An action for the recovery of a debt must be commenced within six years from the date when the debt first arose.

You may need to seek legal advice on the most appropriate venue to process your claim. 

If you owe someone money:

If you owe someone money, they may send you a letter of demand. If you fail to respond to the letter of demand, they may commence legal proceedings to recover the money.

If legal proceedings have commenced you can still settle the matter at any time prior to the court hearing.

If you are required to go to court and you do not attend, The court may decide the matter without you; this is called a default judgment.
 
The creditor (the person you owe money to) can ask for a Court Order for the recovery of the money. An order can be made to seize and sell property or take money from your wages (a garnishee order).

Where judgment has been entered against you the creditor may pursue recovery from you for 12 years from when the debt arose.

Information about slow payment or non-payment of a debt can affect your credit rating and make it harder for you to obtain loans in the future.

If your debt is over $2,000.00 your creditor can petition for bankruptcy. You may find it difficult to be approved for renting premises, get utilities connected, or get a credit card after you have been discharged from your personal bankruptcy.

If someone owes you money:

Send that person a letter of demand stating how much they owe you and why that amount is owed.

If possible, provide copies of invoices, receipts and other like documents supporting your claim together with your letter of demand.

Give a reasonable amount of time to pay, for example 28 days, and advise them that you may commence legal action if you do not receive payment by that time without further notice to them.

If you do not receive payment in the required time you may commence proceedings in the appropriate Court.