Riverside Hockey Club

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Prescription Of Debt

Prescription is a term used to indicate that the time period to institute legal proceedings against a debtor has lapsed. It is thus not a legal term that should be easily ignored, as having your claim prescribe might mean the end of the road for any legal proceedings against a debtor.

The Benefits of Debt Collection On a Contingency Basis

When customers do not pay on time it seriously affects the cash flow of a business. Accordingly, when cash flow has been affected, it is difficult to rationalise paying a law firm to assist with the collection of the debt. This is a typical business Catch 22 situation.