Navigating debt recovery: strategies for success

Having good debt recovery processes and understanding legal debt collection is essential knowledge in business. Our debt recovery lawyers discuss further strategies business owners and creditors can employ to ensure they stay on top and what options there are if a debtor is insolvent. Roland Müller, an accredited litigation specialist, discusses more strategies for creditors in our debt recovery podcast series.

Dealing with Insolvent Debtors: What Are Your Options?

One of the most challenging situations in debt recovery is dealing with a debtor who has no money and becomes insolvent or bankrupt. Roland advises that in such cases, it's crucial to seek expert advice early. Depending on the circumstances, you might be able to recover some of your losses through an insurance policy, reclaim goods or installations, or file a proof of debt with an insolvency practitioner.