Old Debt – Case study
Adam Botterill and William Van Roosmalen from Tempest Litigation funders, discuss a recent case study where Tempest had purchased an old debt from a finance company based in Auckland. After obtaining judgment against the debtor in the District Court, Tempest obtained a charging order over the debtor’s property so that he could not transfer or refinance it without satisfying Tempest’s charge.
After a sale order was issued against the debtor and the bailiff attended the debtor’s property, arrangements were made by the debtor to refinance his property and satisfy Tempest’s charge. Tempest was ultimately successful in being paid. There are many enforcement options available to creditors against debtors that are unwilling to pay. Get in touch with Tempest today to understand how you can utilise our expertise in debt recovery and enforcement to secure payment quickly and affordably.
If you have debts or know anyone with debts (disputed or aged), or want to discuss mechanisms of debt recovery, reach out to us at [email protected] or on 0800 845 885.