Credit recovery, when to implement it?


If conciliatory and collaborative methods have not allowed you to repay a credit, relying on a law firm is the best solution to tackle a path that requires competence and experience.

A universal rule: don’t waste any more time!

It is said that in business being foresight is already a good rule to consolidate an activity, it is also said that working relationships must be managed with a collaborative spirit but when the time for diplomacy ends, then the measures to be taken change and if a debtor hesitates and drags the payment of a debt over time, no more time has to be wasted.

It is the moment in which the creditor (company or private) can rely on a law firm to obtain the payment due by starting a very specific process that requires the intervention of professionals capable of modulating the various actions based on the answers and evidence obtained from the debtor.

The need to make use of lawyers and consultants appointed to carry out the credit recovery , is a practice that allows the entrepreneur or the private individual to effectively achieve their goal, that is the return of the sum of money that until that moment has not been able to be obtained through the common payment reminders. In order not to waste more time it is therefore essential to rely on experts in the sector, and therefore on companies of credit recovery made up of lawyers and professionals qualified to go through and deal with the complex procedures required by law.

Debt collection companies: why they are effective.

Before relying on a law firm and its specialists who carry out debt collection, it is important to underline which are the elements that determine the effectiveness of their work:

  • the analytical skills they will be able to implement before initiating a payment request, a fundamental prerequisite for obtaining possession of the asset information that will lead to the success of the procedure. 
  • knowledge of technical times and promptness in actions, both out-of-court and judicial.
  • the recognized reliability of the credit recovery which must be composed exclusively of accredited professionals in the sector, capable of knowing how to extricate themselves in every sphere of action and intervention.

Given the above, the company of credit recovery is thus able to optimize times and in the event that it has not been possible to reach the resolution of the dispute amicably, it will also be able to face a civil trial thanks to the intervention of the team of lawyers industry specialists.

How credit recovery is carried out.

As already specified, a company of debt collection can make a difference in the resolution of the case only if it carries out a preventive investigation on the properties and assets attributable to the debtor, which in this specific case are:

  • owned properties;
  • vehicles registered to the P.R.A .;
  • receivables from third parties;
  • banking relationships (current accounts, postal accounts and online accounts);
  • sources of income from salaries and/or pensions;
  • equity investments in companies;
  • other income from different sources;
  • identification of personal data such as residence and telephone numbers;
  • tracing heirs in the event of the debtor’s death.

When all the information has been collected, we proceed with the extrajudicial phase which involves sending a letter of formal notice (the Civil Code establishes that the debtor is subject to formal notice “by notice or request made in writing”) with the obligation to make payment within a maximum of ten days from delivery of the letter.

In the event that even this attempt does not lead to the resolution of the operation, the company of credit recovery always under the mandate of the creditor, proceeds to start the judicial phase which involves a process divided into four steps:

  • filing of the injunction with request for capital, interest and expenses;
  • issuance of the injunction by the competent court to be notified to the debtor who will have the right, within 40 days from the completion of the notification itself, to object by presenting evidence and elements to please.

If the debtor does not object, the injunction will be enforced.

  • The third step takes place when the debtor receives notification of the injunction, as a last attempt to resolve the payment which must take place within ten days of completion of the notification of the aforementioned act.
  • If the debtor who has received the writ of precept fails to pay the debt, the last step will be that of the attachment deed to carry out the execution forced and obtain the payment of one’s credit thanks to the sale of seized assets and/or seizure from third parties (current accounts and/or sources of income).

Now you have a real Vademecum to understand when and why to use a company of credit recovery like ours.

Thanks to our team of professionals we will be able to meet your every need, evaluating the pros and cons of the practice submitted to us, thus suggesting the most appropriate path to pursue to successfully recover your money.

Do you need further clarification? Our experts are at your disposal.

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    Credit Group Italia is accredited by the Bankruptcy Section of the Court of Milan as a judicial and extrajudicial debt collection company.