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Debt collection

Cash does not always “flow” in the desired direction and within acceptable timeframes. For any case in which you have to receive or owe amounts, we are available to seek repayment of your receivable or provide protection against unfair creditors. We have participated in managing loan portfolios of various sizes and know how to provide you with the best advice and support.

Debt collection is inevitably preceded by other relations, which may be manifest through court and out-of-court disputes. Often, the obligation for payment of receivables is not as undoubted as we wish it were. It is essential that the respective party exercise its contractual rights in a due and timely manner, by means of compliance and performance of obligations by the creditor, or the timely objection by the debtor and claim of undue payment, or of expiry of a limitation period.

The origin of receivables also determines the procedure through which they may and should be collected. In civil relations and banking operations, sometimes court collection is preceded by out-of-court invitation for settling the dispute, which is ignored by the parties as formality. This preparatory stage of court enforcement may however be the final one, thus saving money and time for the parties, if approached correctly.

Next, enforcement proceedings are related to the multiple issues of fees and costs, identification of property and its due redemption. The vigilance of creditors is key for effective collection, due to the numerous methods for concealment of property and missing opportunities for full settlement of receivables. Our experience in debt collection is extremely rich, since we have been involved in all sides of the process and can effectively support you in receiving what is due, or protect you from unlawful enforcement action.

Often, however, individual enforcement proceedings “evolve” into universal business bankruptcy proceedings, due to the large amount of receivables from one entity or person and the impossibility for complete settlement thereof. Even though the proceeding is automatic, this does not mean that creditors automatically get a portion of their receivables. On the contrary – in a bankruptcy proceeding, the timely claim of receivables and dispute of lists in the initial stage are critical for receiving something at the final stage, before the bankruptcy amount is spent, and the proceeding may turn into a “race” between creditors. Our experience in universal enforcement in this area may turn out to be priceless for you.

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