Starting Debt Recovery
In Australia, the first step to debt collection is demanding that the person or organisation that owes money repay the debt. LME’s debt collection services may be an effective way of recovering debts because:
- LME’s lawyers are experienced in debt recovery
- LME fees are similar to those of debt collectors
- LME can commence a court claim if the debtor does not pay
All you need to do is provide
- Your details
- The debt recovery details
- Payment details
Tax deduction for legal expenses of recovering income
If you are recovering a debt that would form part of your assessable income, such as business income, you can claim a tax deduction for the legal expenses associated to the recovery. Please see our Taxation page.