Debt Collection Guide
The following is a short summary of the various methods that debtors may enforce their rights.
Jurisdiction & Costs
The monetary jurisdictions of the Irish Courts are currently as follows:
|District||Up to €15,000|
|High||€75,000 and upwards|
Steps in Debt Collection
Step 1 – Demand Letter (7 day or 14 day)
We will issue this on the first day that we receive instructions. If no response is obtained from this letter then we proceed to Step 2.
Step 2 – Issuing Legal Proceedings in Court.
Once we know the amount of the debt due, that will determine which Court (District, Circuit or High) to issue proceedings in.
Step 3 – Enforcement of the Debt and options to enforce the Debt
Once Judgment is obtained against the Debtor, it needs to be enforced.
Options for Enforcing Judgment
– Register a Judgment in the Registry of Judgments
All judgments will appear accordingly in Stubbs Gazette
– Lodgement of Judgment with Sheriff
The Sheriff will attempt to seize any of the debtor’s assets. Proceeds from the sale of assets to cover the money owed will go to you via your solicitor.
– Judgment Mortgage
This judgment can be registered as a mortgage over any land or property owned or part owned by the debtor. It prevents the property being sold and you have the right to have the property sold off and the proceeds used to pay the debt.
– Instalment Order
Depending on the financial circumstances of the debtor a Court Order can rule that a debt maybe paid off in instalments.
This applies only when the debtor is an individual and the debt is very large. It usually means that the debtor will lose everything they own.
Applies to companies
A 21 day notice is issued and if there is no response the you may petition the High Court to request the winding-up of the debtor company an a liquidator to be appointed. The Liquidator must then sell all the assets of the company and distribute the proceeds to the creditors.
For more information, please contact our debt collection specialist, Caoimhe Connolly, on 01 872 5622.