Small business-getting your money back

If you are owed money by a company or business that has failed or refused to pay you, there are a number of options that are available to you.

In deciding to pursue the company or business, you should first consider the likelihood of getting money from that company or business. Think about the amount owed, the cost and time required to pursue the debt, and whether the company or business has the ability to pay the debt as it may be in liquidation or deregistered. Regardless, there may still be good reasons to pursue an outstanding debt.

There are several ways that you can use the legal system to recover money that is owed to you. The services available to you are free of charge, but may have limitations in regards to what they offer.

The services available include:

  • community legal centres

  • legal aid commissions

  • small claims tribunals and lower courts

  • County, District and Supreme Courts

  • private legal advice

  • collection agencies.

It is important to keep in mind that even if an order or judgement is made for a company or business to pay the debt, you still need to enforce the order. This can be difficult and can be an added cost in pursuing the debt. 

More about this topic

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More information on the ASIC website

Getting your money back - INFO 33

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Last updated: 04/11/2013 12:00