Rainey Collins Lawyers

How to Avoid Being Prosecuted for Collecting Your Debts

Tuesday, 15 December, 2009 | Tracy Robinson

Many businesses and debt collectors risk prosecution from the Commerce Commission.

If you:

• Demand collection fees or late payment fees when they were not part of the contract;
• Warn debtors that non-payment of the debt will have inevitable legal consequences;
• Employ a debt collector who demands collection fees on your behalf when not part of the contract;
• Are a debt collector who demands such payments when they were not part of the contract;

You could be… Continue reading

Important New Rules On Claw-Back Of Debtor Payments In Liquidations Or Bankruptcy

Thursday, 30 July, 2009 | Tracy Robinson

There have been significant changes to the rules for claw-back of insolvent transactions in individual and company insolvency law…

The liquidator’s job is to obtain all available funds to share on an equal basis with all creditors. 

If the liquidator considers that payment to a creditor has given them a preference over other creditors, then the liquidator may file a notice within two years of the liquidation to have payment… Continue reading

Being Proactive About Recovery Of Debt During The Tough Times Ahead

Tuesday, 31 March, 2009 | Tracy Robinson

A client recently gave us instructions to try to collect a debt of $75,000 where they had given up hope of recovery because the debt had been outstanding for over six months.  Although a contract agreement was signed there was no personal guarantee by the Directors to secure payment.  Our client was embarrassed that they had left the debt outstanding for such a long period of time. 

On receiving instructions to… Continue reading

Making Your Debtors Pay Up … Getting Your Disputes Tribunal Claim Right

Wednesday, 4 March, 2009 | Olivia Lund

Maximum claim levels in the Disputes Tribunal are increasing this year. You need to ensure you prepare your case as well as possible to get the best result as there are no practical appeals if you don’t.

In a recent case, even though lawyers are not permitted to represent people in the Disputes Tribunal, we assisted with preparation of the case and this enabled the best evidence to be… Continue reading

Voluntary Administration - How Can It Save My Company?!

Thursday, 5 February, 2009 | Rachel Vokes

What Is Voluntary Administration?

The point of the voluntary administration regime is to give companies that are insolvent or look likely to become insolvent in the near future a better chance of surviving - and the sooner an Administrator is appointed, the better it will often be for the company’s chances.  If it is not possible to rescue the company then the objective of the Administration is to get a better… Continue reading

Your Quality Terms Of Trade … Save Time And Costs For You!

Tuesday, 27 January, 2009 | Rachel Vokes

When your customers fail to pay their credit accounts by the due date and it comes time to pass the matter over to your solicitors for more serious recovery action, having quality terms of trade can prove invaluable.

Not only can terms of trade allow you to pass the costs of recovery on to your customer and allow for interest to run on the outstanding balance to the date of payment… Continue reading

New Bankruptcy Procedures: Act Quickly To Avoid Your Debtors Giving You The Slip

Thursday, 5 June, 2008 | Tracy Robinson

New procedures for bankruptcies are in force, and they make it easier for debtors to avoid paying up.

The main change came into force on 3 December 2007 and brought in an alternative to bankruptcy.  The “no asset” procedure will be filed with and administered by the Official Assignee.  The Official Assignee becomes a “one-stop shop” for debtors contemplating bankruptcy.

Debtors contemplating voluntary bankruptcy will be required to complete and submit detailed… Continue reading

Small Unpaid Debts Can Prevent People Owning A Home Or Car …

Tuesday, 1 April, 2008 | Tracy Robinson

If someone does not pay a debt it can be listed with a credit rating agency and may prevent them later getting credit to buy a house or car … or you may find yourself contacted well down the track to clarify what you were owed so it can be belatedly tidied up!

People are getting into trouble for very small sums, on average $390, especially when they are young.

If you… Continue reading

Business Operators Seriously Concerned About Getting Paid May Be Able To Secure Their Position … Pre-Judgment

Tuesday, 19 February, 2008 | Rachel Vokes

In the running of your business you may find that you have serious concerns about getting paid by a debtor.

You do not have to watch helplessly as your debtor wastes money or disappears while you wait for a Court order.

In certain circumstances the Court can make orders protecting a debtor’s assets which will secure a creditor’s position until a Final Judgment can be made about this debt.  In urgent… Continue reading

Update On Company Liquidations And Bankruptcies

Monday, 20 August, 2007 | Tracy Robinson

The law relating to liquidations and bankruptcies changed recently.  Our article “Company Liquidations and Bankruptcies Are Handled Differently Under New Legislation” outlines the main changes.

The government has recently announced that regulations are being drafted to bring these changes into effect.  It is currently anticipated that the changes regarding company liquidations will take effect in October/November 2007 and the changes to bankruptcies in December 2007…

Thursday, 11 March, 2010

5 Golden Rules for Purchasing Property

Monday, 1 March, 2010

Long Awaited Bill Has Second Reading