Debt Recovery and Management
Pre-trial Recovery of Debts
- Subsequent to signing of an agreement for provision of debt collection services, we collect relevant and objective information about the debtor; results of activities carried out by him, available property and liabilities as well as assess the possibilities for pre-trial recovery of the debt.
- We establish the debtor's residence place or place of stay.
- We draw and send notices to the debtor; constantly over telecommunications means induce him to pay the debt.
- We visit the debtor's residence or place of stay, initiate and carry on negotiations on settlement for the debt and possible alternative ways of security for the debt (mortgage, signing of guarantee contracts etc.).
- We arrange other activities ensuring fulfilment of financial liabilities of the debtor (finding of the factual situation, signing of bills and ensuring of their performance, realization of pledged property by auction etc.).
- If possible, we arrange, coordinate and cooperate with the bailiff in execution of the enforced debt recovery.
- We monitor and record settlement of the debt to the possible extent.
- We carry out monitoring of the debtor during the total debt recovery procedure, i.e. we monitor changes of the information about the debtor, results of activities carried out by him as well as available property and liabilities.
- If recovery of the debt is impossible, we draw a statement on impossibility to recover the debt, i.e. a comprehensive report on the information collected during pre-trial debt collection procedure, means used and results achieved, we also provide recommendations on recovery of the debt through legal proceedings.
- We prepare a statement of recognition the debt as an irrecoverable one if needed.