Virtually any business entity has problematic assets (we call them “toxic”). Like any poison, they poison your company, forcing you to compensate for “frozen” accounts receivable by attracting unplanned loans and, of course, generate transaction costs associated with debt collection.
When working with distressed assets, we are ready to share our approaches and methods that have been developed and refined over the years.
The experience of our specialists is many-sided:
- they were engaged in creating special financial institutions that digested billions of overdue debts, sanitizing the banking system;
- automated the debt collection process of the country’s largest credit broker as much as possible;
- worked in bankruptcy proceedings;
- conducted mediation disputes;
- they found “holes” in the procedural legislation and suggested ways to improve it.
But most importantly, we love what we do!
How it works:
- We analyze documents for a specific debtor or pool of debtors (if there is a homogeneous portfolio of assets);
- If necessary, we analyze the financial condition of the debtor and determine the probability of repayment of the debt, identify affiliates and ultimate beneficial owners of debtors;
- Define a debt collection strategy.
- We carry out:
- preparation and forwarding of the claim to the debtor,
- conducting negotiations with the debtor,
- drawing up and sending the relevant application to the court/notary.
- After receiving the enforcement document, we prepare an application to the OPI to initiate enforcement proceedings, monitor their work, prepare petitions for revocation of a driver’s license and a ban on traveling abroad, and ensure enforcement (seizure of funds in the account, property of the debtor).
The procedure for collecting receivables is associated with various nuances
So, before starting the recovery process, you need to determine the legal status of a particular debtor. Depending on whether the debtor company operates or is in the process of closing, the algorithm of actions that must be taken to receive money depends. The sector of the economy in which the debtor works also generates some peculiarities when returning funds. So collecting debts from an agricultural enterprise or an enterprise with a large state participation is a separate science.
Receivables are collected in the following ways:
- Drafting (developing) and sending a claim to the debtor (sometimes this method is not just a formal procedure that precedes a court dispute, but with the right approach, it allows you to collect the debt without going to court). We provide services for writing a claim that not only meets the requirements of the law, but also encourages the debtor to fulfill the obligations.
- Appeal to writ proceedings in economic courts. If your claims are undisputed (their indisputability is documented or confirmed by recognition (not contesting) by the debtor), then this type of legal proceedings will be acceptable for you – cheap and fast, which does not require personal presence. We will help you not just prepare a single package of documents, but also develop templates for you and help you automate the process.
- Drafting a statement of claim to the economic court. We have dealt with the collection of debt arising from various types of contracts (credit, loan, supply, contract, paid services, rent and even sponsorship), so we are ready to bet that your case will not be unsolvable for us.
- Making an executive inscription by a notary. The executive inscription of a notary is another express way to return overdue debts, in which there is no need to go to court. A notarized inscription is the same executive document. Notaries make executive inscriptions on the repayment of debts under contracts of sale, delivery, storage, contract, transportation, provision of services, penalty (fine, penalty fee) in connection with such debts.
Thus, we are ready to provide all services related to working with toxic assets. Let your problem become our problem.
