Debt Collection / Recovery
The on-going recession in Ireland has meant that many firms experience difficulty in being paid. Late payment causes major problems for firms, imposing unnecessary administrative burdens and in this current climate when cash is the lifeblood of small firms, late payments can result in insolvency. Unfortunately this situation appears to be getting worse.
Despite the introduction in 2002 of the EU Directive on Late Payment in Commercial Transactions Regulations, which allows companies to automatically charge interest penalties on accounts outstanding beyond 30 days, the average payment period in Ireland is still extremely high and is one of the slowest payment durations in Europe.
At Pádraig O’Donovan & Company is an expert Debt Recovery Solicitor with extensive experience in helping firms to recover outstanding debt;
- Issue of Demand Letter(s)
- Issue of Legal Proceedings