Hi,
A Ltd business in financial difficulties owes another Ltd company 11k since the end of last year. What are the practical options? I had a look around the forum and unlike other topics I can't find comprehensive information on the range of options available. In general conversation over the years many people have discussed frustration about lack of knowledge about how to proceed in such cases so I'd like to gather the information here.
So far I've come across:
1) District court with self-representation, need further information on steps. Procedure: http://www.citizensinformation.ie/en/money_and_tax/personal_finance/debt/court_procedures.html
2) StubbsGazette Demand Letter (27.50 euro) that may prompt a positive reaction - http://www.stubbsgazette.ie/cart/index/b60ed88355ac3f6898fd8a7ab1734d06
3) StubbsGazette Debt Collection - No Win No Fee... 21% commission on 90 days debt at 11k
4) Debtnet Debt Collection - 8% commission over 3.5k
What other options are there?
A) A post - "do not be afraid to threaten to seek to have them liquidated, this requires a 21 day notice to be issued under section 213 of the Companies Act..." http://www.boards.ie/vbulletin/showpost.php?p=82807747&postcount=2 Details?
A Ltd business in financial difficulties owes another Ltd company 11k since the end of last year. What are the practical options? I had a look around the forum and unlike other topics I can't find comprehensive information on the range of options available. In general conversation over the years many people have discussed frustration about lack of knowledge about how to proceed in such cases so I'd like to gather the information here.
So far I've come across:
1) District court with self-representation, need further information on steps. Procedure: http://www.citizensinformation.ie/en/money_and_tax/personal_finance/debt/court_procedures.html
2) StubbsGazette Demand Letter (27.50 euro) that may prompt a positive reaction - http://www.stubbsgazette.ie/cart/index/b60ed88355ac3f6898fd8a7ab1734d06
3) StubbsGazette Debt Collection - No Win No Fee... 21% commission on 90 days debt at 11k
4) Debtnet Debt Collection - 8% commission over 3.5k
What other options are there?
A) A post - "do not be afraid to threaten to seek to have them liquidated, this requires a 21 day notice to be issued under section 213 of the Companies Act..." http://www.boards.ie/vbulletin/showpost.php?p=82807747&postcount=2 Details?
Last edited: