Debt Recovery

Benefits of Hiring a Law Firm for Debt Collection in Singapore

Written by Team Farallon | October 29, 2018

One stressful and challenging experience for businesses or individuals is collecting debt.

That’s because you need to ensure you collect debts professionally and carefully, which will avoid instances of severing relationships with the debtor.

In this informative post, we’ll look at ways a law firm can help you in collecting debts.

  1. Lawyers Understand the Process of Debt Collection

When it comes to collecting debt, many people lose their cases as a result of not knowing what the process is all about. For instance, suits require someone with skills and experience, which are necessary if you want to navigate the court process successfully. Remember that you may win your case by representing yourself in court. However, if you ‘re going to have the best chance in debt recovery Singapore, the best way is to hire a law firm that specializes in debt recovery, a team that understands the court process.

  1. You May Not Have the Time to Represent Yourself

Lawsuits involve lots of court filing. For instance, there are minute entries, discovery, memorandum, disclosures, motions, and notices, which means that you need to have to have adequate time to deal with these issues. Hiring a law firm will ensure that you have a professional to take care of these filings. Your lawyer will ensure that you follow the correct rules and procedures, draft documents and research about the case.

  1. You’ll Get Better Settlement Results

Another benefit of hiring a debt collection Singapore law firm is that you’ll increase your chances of winning a better settlement. That’s because many law firms have experience in carrying out these trials. Remember that the hearings, litigating and appeals take a lot of time.

  1. Your Lawyer Will Preserve Your Case for an Appeal

Keep in mind that choosing to represent yourself in court can result in you losing the debt collection case. The reason is that judges can make mistakes, which means that as much as you’re owed, he or she may enter a judgment against you. The result is that you will want to appeal. Hiring a lawyer will ensure that your case is preserved for appeal if you get an adverse ruling from the trial judge.

Summary

Remember that if you choose to hire a debt recovery agency, you may get sued for harassment. That’s if the debt collection company uses methods that may be against the law. If you are searching for the best debt collection Singapore method, hiring a lawyer can help you in recovering your debt, which will ensure that improve your personal or business cash flow. Remember that if you fail to take legal action, your debt may end up not being repaid.

For further information, speak to a debt collection lawyer from Farallon Law.