March 30, 2019by David Yaw Danquah Esq.

Debt Recovery In Ghana

Indebtedness within the Ghanaian market poses a serious challenge for lenders and businesses trying to grow their investment portfolios. Many business organisations are indebted and thus growth is restricted as more profits will go to settling debts. Most growth is also hindered because they have lent out money to others who have not settled and thus halting investment and growth in the business sectors.

As a result of this, institutions dedicated to the recovery of debts have sprung up in Ghana. Their main focus is to recover debts which are long overdue and restore back their monies. It is against this background that this article provides some practical tips to ensure you maximize recovery of your debts and avoid write-offs by focusing on “no-nonsense” techniques that can be deployed to avoid the likelihood of non-payment.


Legalstone Solicitors LLP follows international standard rates for debt collection cases and the fees stipulated by the Ghana Bar Association for the collection of the debt owed in commercial, corporate and business contracts. More so, it is important for an individual or corporate entity to understand, that one of the controlling factors for determining the rates of debt collection in Ghana is litigation and arbitration procedures.


At Legalstone, we offer simple, effective and swift solutions to recover debts in Ghana. Our team of lawyers and experts have an in-depth understanding of the laws and legal nuances for recovery of a debt owed clients be it individual or a corporate entity.

Our debt recovery solutions can issue an initial letter before the commencement of a court process to recover the amount due and owed. A letter before action is a formal letter written by our expert lawyers demanding for payment of the debt owed your business and warns of impending and unstoppable court action on failure to adhere to the moratorium granted for payment.

Our letter before action usually set out the following:

  1. Circumstances leading to the debt owed.
  2. The amount involved
  3. The particulars of the debtor
  4. The particulars of the client
  5. Set the time for payment which is usually 7days moratorium.

In some cases, the issuance of the letter before action may lead to settlement of the debt due and owed our client without necessitating further actions. We are a law firm and not a debt collection agency. We litigate based on clear instructions from our clients if our letter of demand doesn’t result in payment.

Our debt recovery services include:

  1. Commercial litigation and dispute resolution;
  2. A letter before action (LBA) i.e.: letters of demand;
  3. Settling matters by way of Alternative Dispute Resolution (ADR) processes;
  4. Obtaining and enforcing judgments by way of writs, instalment orders, garnishments among others;
  5. Assisting you and your business by drafting the agreement to mitigate the need for debt recovering actions; and
  6. Telephone collections and follow-ups.


The contents of this publication, current at the date of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication.

© Legalstone Solicitors LLP




  • Please can you help me retrieve my money from a friend?

    Priscilla Boateng / 5:27 pm / Reply
  • Please. I’m indepted to someone of about ¢16,000. I could only struggle from my best to pay ¢1000 every month and fulfilling it monthly. The owner of the money has told me I should pay everything within 6 months which is virtually beyond my reach with all my might. Please how can I defend myself and beg the judge as I’m committed to pay this morning as best as I could. Please help.

    Dennis Okine Jackson / 5:27 pm / Reply
  • We are dealing in baby diapers and we have some people owing us over a year so we need your assistance in recovery our money.

    Philomina Minimade / 5:27 pm / Reply
  • I am indeed very determined to go to every extent to have my money back. Many thanks.

    Dear Sir, for almost a year and a half AlTime Capital, has refused to pay ghs500,000 owed me. I would be very grateful if you could assist me to retrieve my money / 5:27 pm / Reply
  • Please, I borrowed money to a market woman with conditions attached, so also agreement letter but she has refused to pay the money. What do I do to recover my money?

    Emelia Yankson / 5:27 pm / Reply
error: Content is protected !!