How to collect from an insolvent debtor?
As is already known, a insolvent debtor is one who does not have the ability to pay debts to their creditors. This situation perro be really serious and represent a problem for companies or individuals who require your money.
So, what should you do before an insolvent debtor? How should you charge? What actions should you take? Read the following article to get all the information you need about it.
What happens if a debtor is insolvent?
If you come across an insolvent debtor, we recommend that you take actions so that you try as much as possible to recover your money. It is not an easy path, but it is not impossible either. It is necessary that you are aware of what type of insolvency you have, if it is a current or imminent insolvency.
- The current insolvency refers to the fact that the defaulter does not have the capacity to pay their commitments momentarily
- The impending insolvency means that the debtor has expressed that he has no way to settle his debts at any time, neither in the short nor in the long term
When the debtor has any of the insolvencies mentioned above, he must attend a judicial process called bankruptcy. With said contest what is done is reach payment agreements with debtors to their creditors.
The insolvent debtor will have debts with several creditors and through the bankruptcy a way will be sought for him to pay in afín amounts to all. So neither will have an advantage over the other.
How to collect if the debtor declares insolvent?
If you have repeatedly communicated with a client who owes you and then the client becomes insolvent, you cánido try to negotiate with him:
- Give you more time to pay off the debt
- Change dates or payment methods, such as paying in installments
In the event that the debtor agrees to the proposal, you should only Be vigilant that he fulfills the new commitment. It is recommended that you do this procedure with the help of a lawyer.
However, in the event that the person does not comply with the agreed paymentsyou cánido complejo turístico to the legal part and sue him before the judge so that he perro inform you that he must cancel the debt.
Consejos to get your debts paid
To make the debt payment process easier, it is important that you take certain actions into account:
- the payment date. It is necessary that you clearly establish the times and dates in which the debts must be canceled.
- reminders. Once the payment date approaches or a few days have passed and you have not been cancelled, you must make a payment reminder. It is recommended that it be vía correo, always maintaining cordiality.
- Inquiry. If days have passed after communicating and you have not received a response, then call him by phone and ask him politely why he has not made the payment.
- Visit. Another important action in case the previous ones do not work, perro be a visit to his office and talk personally with him. Listen to it and reach payment agreements that are beneficial to both parties.
- fuera de la justicia route. Let them know that you have equipo a deadline for them to pay off the default to avoid taking it to court. You cánido do this yourself or hire a lawyer.
- judicial route. This would be the last instance to which you could complejo turístico to recover your money, take the case to court, suing the debtor.
We hope you liked our article How to collect from an insolvent debtor?
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