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RETURNING OF DEBT, RECOVERY
PRACTICAL TIPS AND SOLVING
ON RECOVERY, REPAYMENT OF DEBTS
PROCEDURE OF RECOVERY BEFORE THE COURT AND TO THE COURT
REAL ASSISTANCE TO PROBLEM BORROWERS
ASSISTANCE TO DEBTORS FOR INSUFFICIENT CREDITORS (DEBTORS)
ON DEBTS TO STI, SODRA, other state institutions
Order a claim:
WRITING OF THE LEGALLY ARGUMENTED CLAIM
WE CAN ALWAYS RELATE WORK TO MONEY RECOVERED / RETURNED.
Help if there are debts. Debt recovery, debt buying, tips, various possible legal solutions and options for getting rid of debt or recovering debt.
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Debt is a duty to the creditor.
Debt, debt financial or monetary obligation is a certain obligation that includes the debtor’s duty to pay a certain sum of money or fulfill other duties that are specified in the contract signed between them (to perform the required work, to provide various kinds of services) or in laws, and established these duties are the rights of claim against the debtor belonging to the creditor.
How do debts appear?
Debt can be due to various reasons: a signed loan agreement, a bank loan, causing somebody to damage, and other reasons. The need to collect debt also arises also in those cases when the invoice was not paid within the specified period. For this reason, at present no one can be sure that tomorrow he will not be a debtor or creditor.
Debt collection or debt transfer
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Debt collection is in fact considered one of the most painful social problems in modern society. To date, almost all areas of our lives have a direct or indirect relationship to finance. Debt can arise on a variety of levels, ranging from classical debt to paycheck to huge debts at the level of commercial enterprises and firms
With regard to bank debts, when contacting a bank and entering into a lending agreement with the bank, the client undertakes to comply with all the clauses of the contract, including those relating to the payment schedule for the existing debt. If these obligations to repay the debt are not met, then the bank has the right to apply sanctions against the borrower in the form of fines and penalties. If these measures did not force him to pay, the collection of debts by court decision is applied.
The term “debt collection” includes the entire set of measures aimed at making the debtor pay the overdue debt
Ways to return debts.
To date, there are many legitimate methods to force a debtor to pay a debt. The softest of them is the conclusion of a world treaty. However, sometimes it is required to attract agencies to deal with debt debts, and to apply to the court. The most important thing for both parties in the event of arrears is not to waste precious time, but to consider all possible solutions to the problems that have arisen.
Ways to return existing debts
The available ways of repaying debts can be divided into two categories: the first includes traditional, most frequently used methods: a verbal reminder to repay debts; appeal to law enforcement agencies or appeal to the court.
Debt collection (return) is a debt collection procedure, which includes three stages of this procedure: pre-trial, extrajudicial and judicial recovery
Summing up, it can be concluded that there are three stages or categories of debt repayment:
• Pre-trial procedure;
Return of debts out of court is a set of actions aimed at paying off debt without resorting to court
In most cases, collection of debts without a court is the most effective, efficient and quick way to repay existing debts.
Pre-judicial stage of collection of existing debts: pre-judicial collection of debts is the first and necessary stage in the process of repayment of a legal entity’s debt. Pre-judicial recovery covers the professional conduct of negotiations with the debtor in order to motivate to return the debt and send the debtor a claim. Even a small delay in payment of arrears is a sufficient basis for starting negotiations with the debtor
The procedure of pre-judicial recovery of debts allows the creditor to return his money without involving the court. To do this, the creditor needs to convince the debtor that it still will be necessary to give back the debt and it is better to do it without involving third parties and the court. If the return within the established period is for any reason impossible, the parties agree to postpone this period for a later time or agree on a loan restructuring. In this case, the credit conditions change
Pre-judicial recovery of debts should be distinguished from the claim procedure for settlement of the dispute. The pre-judicial recovery of the debt is aimed at repaying the debt without applying to the arbitration court. The success of pre-judicial debt collection primarily depends on professionally conducted negotiations with the debtor. The claim procedure is an established formal procedure provided for by law, the purpose of which is to file a claim with the arbitration court
In the process of pre-judicial recovery, the debtor also discusses all possible mutually acceptable methods and terms of debt repayment. Even in the event that the creditor has already negotiated with the debtor, pre-trial recovery with the help of a professional debt collection company can motivate the debtor to pay the debt without resorting to court
In the pre-judicial process of debt collection, the debt collection company works with clients without involvement of the court, by concluding agreements on the possible repayment of accounts payable by restructuring the debt. Debt restructuring can be performed in the form of: establishing a new debt repayment schedule (increasing the maturity of the debt, temporarily deferring payment of the debt), reducing the amount of debt (cancellation of penalties imposed, fines), and may include providing a guarantee as security for the fulfillment of obligations debtor or by replacing debt with other debt obligations
Judicial procedures are a fairly effective and efficient method of repaying debts, provided that the very fact of transferring money has been documented and proven. In the case of bank loans with evidence, no problems arise, since the creditors have on their hands a contract that has been drawn up according to all the rules.
In the case of private loans, the main evidence is a receipt, but it must be drafted according to all rules. If there is no such written receipt, then the chances of winning the case are reduced. To prove the very fact of debt, you need witnesses or other confirmation of the transfer of money
Evidence in this case are:
• correspondence of relevant content on the Internet;
• SMS messages confirming the very fact of debt;
• Audio and video recording.
Collection of debts in court is a set of actions performed by the creditor in order to protect their violated rights. At the same time, the very conduct of the judicial process and the winning of the case are not independent primary goals. The main task of this stage of debt collection is the subsequent enforcement of the court decision and the actual repayment of the debt. Debt collection in the presence of a judicial decision is one of the most difficult stages of debt settlement
Of course, there are also so-called hard-core debtors, who from the very beginning set a goal not to repay the debt voluntarily and pay debts only as a result of forced collection of debts. Such debtors, as a rule, even avoid debt negotiations, break the schedules of debt repayment. Some of these debtors are familiar to us. Some people manage to find out as a result of pre-trial debt collection. Evil debtors most often do not repay debts at the stage of pre-trial recovery and in order to recover the debt one must apply to the court.
Reminder about the need to pay the debt
A reminder of the need to pay a debt is a notice that the debt was not paid in due time. You can send a reminder yourself, or send a reminder about the need to pay the agency.
Since the reminder of the need to pay the debt has already forced the creditor or the agency to resort to measures that require certain costs, the creditor or agency is entitled to recover this kind of expenses from the debtor
If the debtor is a law-abiding citizen, who for some objective reason could not pay off his debt in time, but plans to do it, then he usually meets them halfway. In this case, a contract between the creditor and the debtor is signed, which includes all the terms of the debt recovery, as well as interest.
Non-return of debt leads to the imposition of fines, penalties for delay.
What is a fine?
Penalty is the accrued interest from the amount of the overdue obligation, which the debtor is obliged to pay if the payment of the debt was not made in accordance with the contract and at the due date.
To get money from the debtor, even such methods as resorting to criminal structures and using corruption opportunities are sometimes used. However, these methods do not always bring the expected result, in addition, they are associated with additional considerable costs and certain risks
Reasons for non-return of debts:
Depending on the reason for non-return, debts can be divided into the following types:
• impossibility of repayment of debts because the debtor does not have real financial possibilities to repay the debt
• the debtor’s confidence that the creditor will not be able to impose debt collection on the assets and money actually available to the debtor (for example, if all the existing assets of the debtor are hidden, that is, they are actually in his possession, and legally belong to others, or opportunities the use of an administrative resource, or because of the uncertain location of the debtor, or a long distance, and other circumstances, among which may be the expiration of the limitation period, the lack of documentary evidence of the existence I am indebted, etc.)
The creditor has the right to use any of the ways of repaying the debt, which he deems appropriate. The most suitable option for both parties is pre-trial settlement of the dispute. In this case, there are no costs for litigation and the collection procedure is also shortened.
Extrajudicial recovery. Transfer of debts
The creditor has the right to assign the existing debt to third parties – companies that professionally handle the repayment of debts. These organizations are called agencies. They operate on a commercial basis.
Transfer of collection procedure to third parties and companies is especially popular with banking institutions. In loan agreements, there is usually an item that gives the right to banks to resort to such a method of influencing debtors in case of default by debtors of their obligations
Fortunately for unscrupulous payers, the powers and opportunities of the recoverers have recently been severely restricted by law. In fact, they have no more rights than employees of call centers in banks. Their main function is to inform the client about the occurrence of debt.
Conditionally it is possible to divide all debts into real and problematic ones
Under real collection of debts are understood as those for which it is possible not only to make a decision by the court, but also their actual execution. In this case, either the debtor himself pays for the executive document / settlement agreement or the bailiff service easily writes off the money from the settlement account of the debtor, or the creditor independently presents the writ of execution to the debtor’s bank and, if funds are available, they are written off, or the execution of the judgment is carried out by a bailiff at the expense of other property that the debtor has (after the discovery of this property, inventory and sale from public auction
Distressed debts. Those that can be qualified as hopeless to foreclosure. This is just the mass phenomenon that creates “extraordinary situations” in business. Problem debts are virtually impossible to recover. There can be a lot of reasons. The most harmless is the inaction of bailiffs, when, by court order, the enforcement sheet is gathering dust in a pile of papers. But debtors do not cease to improve their “criminal” or simply unscrupulous tricks. Unfairness is, of course, not a criminal act, but society needs to know about this abuse