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Where the debt is owed by a borrower as a result of an unpaid loan or loans, it goes without saying that the loan money or credit would have been provided on the basis of some terms and conditions, or some agreement, as to (amongst other things) how much money was being loaned, the term of the loan and interest rates.  The terms of the loan contract and/or arrangement between you and the borrower need to be pleaded and set out precisely.  The loan contract will often contain both express terms and implied terms.  

The benefit of using an experienced law firm to assist you with the drafting of the Statement of Claim or other correspondence is that the Law firm will be able to properly set out, after due investigation, not only what the lender and the borrower expressly agreed to, but also what implied or other obligations arise on the part of the borrower, as well as any other legal principles or causes of action that might exist or might be asserted against the borrower, so that the lender enjoys the benefit of having the highest prospect of recovering the debt from the borrower.  

The very first letter that you send could be the very letter that hurts or prejudices your legal position significantly, often to such an extent that by the time you will decide to seek legal advice, significant damage may have been caused to your legal position as the lender, as a result of the ill-considered steps taken by you. 

If you are owed money by a borrower, it is imperative that you instruct a law firm to assist you to understand clearly the relationship between yourself as the lender and the borrower, as well as properly articulate and plead your case against that borrower.  

Care also needs to be taken, when drafting any pleading, to mitigate against the risk of a potential cross-claim that might be brought against you by any debtor who is seeking to deny any claim for unpaid loan moneys, as well as retaliate with a cross-claim. 

If you require assistance with the recovery of an unpaid loan, you should contact our head office by telelphone on (02) 9233 4048 or send an email to us at info@navado.com.au and make an appointment to see our Sydney Debt Collection Lawyers. 

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