Legal recovery of debts from individuals

Debt good turn deserves another. Surely absolutely everyone knows this proverb, but not all follow the behests of folk wisdom. The malicious default of debt is punishable by law and is punishable. In modern jurisprudence, there are many examples, As a creditor is forced to repay a debt from an unscrupulous borrower in a judicial procedure.

The most common cases are when an individual who has taken a loan from a financial institution violates the terms of the contract and does not make a monthly payment. Of course, there are different options, and not necessarily the borrower deliberately shies away from paying debts. That is why there is a procedure for the peaceful settlement of the conflict with the bank - the pre-trial stage. The borrower can write an application to the bank with a request for debt restructuring. If there is even a refusal, the debtor can present the document on the court in order to prove its willingness to cooperate.

If, however, the parties did not reach a common opinion, the next stage is coming - Judicial collection of debts. It all starts with the fact that the creditor issues a claim to the borrower. This claim includes the basis on which it is filed, the amount of the debt collected, as well as interest for using other people's money. This paper must be sent to the debtor with an indication of the amount of time it is given for voluntary repayment of the debt. In court it will be necessary to show only a receipt for sending by registered mail to prove that the borrower was acquainted with the conditions. If there were no retaliatory actions, the next stage is made: submission of a statement of claim to the judicial authorities. As a rule, the judicial collection of debts is much easier and faster than preparing for it.

When submitting an action, it is necessary to attach all related documents: a loan agreement, a claim against the respondent with a request for voluntary repayment of the debt, as well as specify the amount of the recovered amount and additional penalties. The more complete the The list of documents, the faster the proceedings will be conducted.

Judicial recovery of debts is not only a long and time consuming process, but also an expensive process, because it will be necessary to hire lawyers whose services should also be well paid. To the claim, the creditor may also attach an application for reimbursement by the defendant of all legal costs, but their amount should not exceed the amount of debt.

After the final decision, obliging the borrower to pay the loan amount, the next stage of the process begins - the collection of debts by bailiffs.

It should also be remembered that the monetary debt for today is the subject of sale and purchase, that is, the lending bank has the right to resell it to the collection agency, to which all the rights of the creditor will pass.

So, it is worth remembering that the judicial recovery of debts is a very long process, requiring material and emotional costs. Therefore, one should always give preference to the peaceful settlement of disputes, good, it is available at any stage of the trial.