Debt Recovery

Debt recovery is one of the main issues about which clients approach us. It would seem that the procedure of debt recovery is universal, and that all lawyers would perform it in the same way. Submitting a claim to the debtor, judicial proceedings, provisional measures, enforcement, what else could there be? But the reality is not like that.

We believe that debt recovery is a creative process. If the goal is really set at recovering debt, and not at inflating the client’s expenditures, then an individual approach is needed.

The choice of tactics in debt recovery depends largely on the debtor. All cases connected with debt recovery can be divided into several categories:

Based on the debtor’s status:

• The debtor is a legal entity;
• The debtor is an individual.

 Based on the debtor’s credit-worthiness/solvency:

The presence of liquid assets or interests (real estate, transport, money in accounts, shares, liquid instruments, and so on), against which a claim can be made at the present time or in the future;

• The presence of other possibilities to recover debts from the debtor;
• The absence of apparent prospects to recover debts from the debtor.

Based on the reason for the debt:

• As a result of nonfulfillment of contractual obligations;
• As a result of infliction of the harm (tort liability).

If the debtor has some sort of property that could meet the creditor’s requirements, action must be taken at once. Do not forget that you might not be the only creditor. Those who start the process first have a much greater chance of success!

It should be noted that in the procedure of recovering debt, the proof of the existence of the debt itself is extremely important. Our practice has shown that clients are often confused about whether or not they actually have a legal basis to sue to recover debt. This is why in the process of document analysis, particular attention should be paid to the foundation of proof. It may be necessary to hold negotiations with the debtor in order to acquire additional proof and documentation.

What can we offer the client?

BAZALT Legal Centre was founded in 1996. Our experience and business connections allow us to use the whole spectrum of judicial methods to recover debts. Following the principle of minimising the client’s expenses, we try to collect information about the debtor at the very beginning, to determine with a high degree of accuracy the chances of recovering the money. The client pays most of our fee after receiving the money or property from the debtor. In certain cases, we will take remuneration based on the actual recovery.

Legal consulting department.

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Moscow Russia
tel.: +7 495 981 19 39,
fax: + 7 495 737 43 81