Debt Collection
Art of Law

Debt Collection

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Debt collection dates back to before the existence of money itself. It appeared with barter systems The idea of collecting debts has existed since the existence of debt. With the development and expansion of financial transactions, the volume has increased Debts and their forms, whether between companies or individuals or between each other, and under modern systems In credit dealing systems, the presence of debts has become inevitable, as the problem of the debtor’s procrastination in paying his debts It is considered an obsession that worries many individuals, companies, and institutions alike One of the most important factors that lead to default and results in a number of risks, including project contraction and failure The ability to meet the obligations resulting from the due dates of these debts, and the matter may reach... Sometimes it leads to bankruptcy or liquidation.

The process of collecting debts, whether due, late, or non-existent, requires knowledge, knowledge, and experience Extensive negotiation procedures and stages by studying the debtor’s case status and developing a procedural plan and timetable It is followed up on a daily basis so that troubled debts are collected amicably as quickly as possible Possible and at the lowest costs, and the company holding the debt is often less effective and faces the debtor’s refusal He stopped communicating with her because he evaded his original creditor, while the idea of there being a professional intermediary was acceptable Professionalism will be more acceptable to the debtor who deals with him flexibly, and the creditor himself will prefer it Entrusting the task of collecting debts to specialists who possess professionalism, great experience, and innovative techniques In this field.

Therefore, the need for the ability to collect debts amicably has become one of the most important technical solutions To ward off the risks of bankruptcy and disability, this is what we work on at Art of Law Legal Consulting Company Which has an elite group of specialists in the field of debt collection and reducing their accumulation, as well as forecasting To determine the size of future debts and estimate the amount of non-performing debts and recoverable ones.

If the defaulter neglects the repayment plan or does not cover the amount, a recovery agency will take action Debts are legal procedures against the debtor. The company may have in-house lawyers or may operate jointly With a lawyer company to perform the legal procedures that make the debtor settle the debt