Realize your debt collection plan according to the legal report on your debtor!
Drawing-up a report with the purpose of identifying the files that your debtors have registered with the courts of law from Romania, is both useful and necessary before filling a debt recovery claim.
This report helps us to identify the nature of the pending files in the courts of law, such as: the approval of foreclosure files, ordered by payment or insolvency requests.
The more the files of this kind, the less chances to recover your debt, so if you don’t take any actions for debt recovery, time runs against you, the creditor.
A special attention has to be paid in debt collection through the insolvency procedure. If the debtor becomes insolvent the other law suits for debt recovery are rightfully suspended, including the foreclosure procedures. In such cases the chances for recovering the debts (which haven’t been guaranteed) are real only if you subscribe your claims in the preliminary statement of affairs through the so-called request for entering the statement of affairs.
Please note! There are situations where, for various reasons (carelessly, failure to declare debts by the debtors, the absence of compliance between the creditor’s and the debtor’s accountancy, the debtor’s failure to register the invoice in the accountancy, registering an invoice for a smaller amount), the creditors are not notified by the judicial administrator in order to subscribe in the statement of affairs. So, I recommend to the creditors to be vigilant, to pay attention to the insolvency process and to submit their application in the statement of affairs in the term stipulated by the law.
As I mentioned above, the opening of the insolvency proceedings suspends the other debt collection actions against your debtor. If these types of files are identified in the courts of law, we should analyze with professionalism and precaution the beginning of actions for debt recovery and to avoid the unnecessary expenses linked to these actions (lawyer’s fees, bailiffs, judicial taxes).
In conclusion, a report over the files pending in the courts of law and an interpretation of this report by a person with considerable experience who can anticipate the steps to follow is necessary.