Alberta business owners who have problems with collecting money owed to them might have questions about the most appropriate steps to take. The first instinct might be to sue the debtor, but seeking legal counsel first might be a good idea. Civil litigation can be time consuming and expensive, and there could be other legal ways to pursue the recovery of outstanding debts.
Debt claims can include unpaid loans, breaches of contract, default rent payments and damage deposits. Before suing, giving the other party a written demand letter might have the desired result. The letter must state the owed amount, the deadline for settling the debt and to whom the payment must be made. It can also include a notice to advise the other party that failure to pay might lead to a civil lawsuit.
The person seeking payment might have questions about limitation periods and other aspects that might affect the civil lawsuit. Issues that might play a role in the outcome of such a claim include the date when the debt was incurred as well as whether the debtor has acknowledged the existence of the debt in writing and whether the entire debt is outstanding. If a portion of the debt has been paid, the time limit might be affected.
These and many other issues could affect the claim, and civil litigation is typically a complicated field of the law. An Alberta lawyer who has experience in dealing with all aspects of business and commercial law can be an invaluable source of support and guidance. Legal counsel can assist with the navigation of a civil lawsuit or any other viable means of legally resolving the issue.
