What should I do if the debtor refuses to pay me?
First and foremost, you need to take the necessary legal action. Most of the debtors try to get rid of their obligations, either by making promises, by denying the existence of receivables or by directly threatening creditors. However, the right for remuneration for your services, goods, or other compensation provided is often unquestionable and the debtor thus only defers their obligations, thereby seeking to reach legal limitation of the claims.
What period is required for claims to reach the legal limitation?
The limitation period means a certain period of time stipulated by the law in which you have to assert your claim otherwise you will lose the possibility of its enforcement by the courts of the Slovak Republic. This means that if the claim already reached its limitation period and the debtor still pays it to you, the received finances will be obtained legally, but if the claim already reached its limitation period, the courts of the Slovak Republic will no longer grant it to you. In other words, if the debtor fulfills their obligations voluntarily, you are lucky, but if they refuse to fulfill their obligations, you will lose the possibility of enforcing them. The limitation period shall run from the date on which the right to claim could be first exercised. This moment cannot be specified in general, as for each type of receivable this period is calculated from a different day. However, we can categorize the most used type of receivables, and that are invoices. In the case of invoices, the right could be exercised for the first time the day after its due date. In normal cases, the limitation period is set at 3 years in civil law relations and 4 years in commercial law relations. However, if the claim is time-barred and the debtor signs your acknowledgment of debt, the claim is still enforceable in court, but the process is not easy. Therefore, do not hesitate to contact us with this type of receivables, but it is always better to avoid such situations.
Does it worth more for me to seek the help of a lawyer or a recovery company?
Hiring a lawyer is usually the first option the client will consider when they have a problem with debtors. Of course, this is an excellent help for representation in court proceedings, as the average person does not have enough legal education to know how to proceed in court. The main disadvantage of lawyers is their high remuneration and they usually charge for each hour spent on your case, including all court proceedings and actions that need to be done.
For this reason, we – the debt collection company that specializes in the given area – came to the market and not only to solve all legal acts for you and bear court and execution fees but also to communicate with the debtor. Communication with the debtor is very important as it is necessary to have not only legal but also psychological knowledge that will lead the debtor to the voluntary payment of obligations. It is this knowledge that increases the likelihood of a prompt out-of-court settlement of the debtor’s obligations.
How much do the services of our company cost?
We are one of the few companies that are completely transparent about the price list of their services and you can find ours published on the following link without any hidden fees. Apart from the agreed percentage fee, you do not pay anything extra, no fees, and neither the costs of the proceedings nor the costs of the other party, all these risks are borne only by us.
The biggest advantage for you is the fact that we will be entitled to a reward only in the event of a real recovery of your claim. It is because of this way of rewarding that you know that we have as much motivation to enforce your claims as you do.
How long does it take to recover receivables?
Debt collection is a very individual process. Many debtors realize the seriousness of the situation after the first communication with our company, because, unlike the creditor, they see us as a threat and they understand that it is our business and therefore we will do everything in our power to recover your claims. If the debtor does not pay its obligations even after communicating with our company, we will file a motion to initiate legal proceedings. In this part, we are different from the competition probably the most. Other companies with the same or similar business do not want to start legal proceedings, as they are financially costly, time and energy-consuming, and, in particular, do not have the necessary know-how. They generally rely on the fact that they persuade debtors to pay their claims out of court and if they fail to do so, they return the claims to the original creditors. Our company does not hesitate and after even the slightest indication that the debtor is misleading us, we are initiating legal proceedings. Your advantage is that our team consists of lawyers as well as attorneys, which means that you get first-class services without the risk of spending any additional funds.
What should I do if a debtor claims he has no money?
For such debtors, recovery begins in the same way as for wealthy debtors. Many debtors deliberately deceive and they need to be exposed and not let covered you with sweet words. Personally, you may not know if the debtor is really without the means of repaying the debt but we know how to find out this information, and what´s more, we can also oppose the legal acts by which they got rid of their property so that they would not have to fulfill their obligations. With the second category of debtors, who actually got into a difficult situation due to their own mistakes, it is possible to agree on a special procedure for repayment of liabilities that suits both parties, because it does not make sense to bankrupt the debtor and obtain e.g. 30 % of your receivables if you can wait and recover 100 % of your receivables. Remember that all receivables are worth starting to recover because only then is the limitation period suspended and the debtor, who has nothing at present, can eventually acquire certain assets through work, inheritance, or otherwise, and we will already have a pre-acquired enforcement order in your favor.
What should I do if I want to entrust my claim to your management?
The easiest way for you to resolve a bad situation with debtors is to send a non-binding contact form, which you will find at the following link. However, you can also call us on our telephone number +421 910 33 20 33 or send an e-mail to email@example.com. We are looking forward to our cooperation.