Debt administration – is the prevention of debt, debt collection and judicial debt recovery.
For the subscription fee of a Personal lawyer service contract Justicija, UAB clients have access to a full package of debt administration, which consists of:
- Debt prevention – the best prevention of debt is having information on the counterparty and a proper preparation of contracts. Improper contract formalization is one of the main causes of debt disputes. Meanwhile properly drafted contract itself performs debt prevention function: a clear contract (in particular for the quality of goods, work deadlines, etc.), properly discussed liability for breaches of the contract encourages customers and partners timely and properly perform obligations. Contracts can also be made for the effective execution of contracts collateral – (penalties, warranty, guarantee, bank guarantee, mortgage).
- Debt recovery is performed in negotiations with the debtors as a money-back arrangements with the terms and conditions to pay out the debt in the shortest possible period of time without going to court. Debt recovery aims to ensure the result without coercive measures. In various legal means we intend to implement the creditor’s claim of property in a negotiotion.
- Judicial recovery of debts – an extreme measure, which is used only in cases where the debtor fails to agree otherwise. Judicial debt recovery is carried out for an extra fee or if stated in provided services contract – free of charge.
We select individual debt recovery techniques for each debtor which are based on following methods:
- Search of a debtor.
- The debtor’s property determination.
- Setting meetings with the debtor.
- Submitting requirements in writing to fulfill the obligations.
- Visitation of debtor by place of residence or place of employment
- Debt payment scheduling;
- Signing of promissory notes to repay the debt
- Inclusion of debtor in the debtors register
- information regarding the debtors insolvency distribution to interested parties (leasing companies, banIks, workplaces)