Debt Collection and Liens
The most important aspect of debt collection, or any litigation, is to ensure that you meet the limitation periods for both filing and taking a “step” in the litigation.
Liens must be filed within very short limitation periods as prescribed by the relevant legislation or else the right to enforce a lien will expire:
The relevant legislation also dictates when a court action must be commenced to enforce the lien, and again these limitation periods are strictly enforced. If you think you may wish to register a lien, you should contact Amy K. Murphy immediately.
For collection of debts where lien legislation is not involved, the Limitations Act of Alberta requires a court action to enforce the claim to be brought within 2 years of: the date the claim arose, the date of the last payment on the debt, or the date of the last acknowledgement of the debt, whichever is the later. Failure to commence a court action will bar your ability to recover the debt.
But a court action is not always required. Many times, a well-drafted demand letter will collect the debt without the necessity of court costs. Amy K. Murphy can do that for you. She can also take steps to enforce a court judgment to ensure that the Judgment Debtor actually pays you the money together with interests and costs, either out of the debtor’s income or the debtor’s assets. She will advise you as to the best steps to take.