Debt Recovery Consulting Lawyer Services

NT INTERNATIONAL LAW FIRM is a renowned legal firm that specializes in providing lawyer services and debt recovery consulting services in particular. The term “debt recovery” encompasses a wide range of scenarios where financial obligations are not met as per the agreed deadlines and terms between individuals and organizations.

As the Vietnamese proverb goes, “Lend standing up, collect kneeling down.” Fulfilling financial obligations is a crucial aspect of any transaction, but it can be challenging to enforce. At NT INTERNATIONAL LAW FIRM, we understand these challenges and have been assisting numerous clients in their pursuit of debt repayment.

We offer expert advice and representation to our clients, employing both non-judicial and judicial methods to recover debts and compel defaulting parties to fulfill their financial obligations.

What is debt recovery?

Debt recovery involves compelling the debtor to fulfill their financial obligations by paying the owed amount or assets to the creditor, as per the terms agreed upon in the contract or agreement between the two parties, or as determined by the competent State agency. This measure plays a crucial role in upholding fairness and professionalism in the business collaboration between the involved parties.

What is debt recovery

The significance of debt recovery

Debt collection plays a crucial role in various facets of business operations, encompassing the following:

• Safeguarding the financial stability and well-being of both businesses and individuals.
• Shielding business profits and personal assets by retrieving owed money or assets.
• Most importantly, debt collection can directly influence the survival of a business or individual, while also aiding in mitigating risks associated with their business endeavors.

When should you employ debt recovery consulting services?

To avoid financial risks in business activities and ensure the financial security of both businesses and individuals, it is crucial to carry out debt collection in accordance with the law. To safeguard your personal rights, it is advisable to seek the support and advice of a lawyer who can guide you on the legal provisions. This will enable you to obtain more effective and reliable assistance to find optimal solutions.

If you are facing debt recovery issues and lack the necessary experience and knowledge to handle them, or if traditional methods are not working, consulting a debt recovery lawyer is a wise decision. Moreover, if you are being illegally hounded by a creditor, such as through the violation of laws by employing threats, harassment, or abuse of your rights, hiring a lawyer is essential.

An experienced lawyer in this field can assist you in taking legal measures to recover debt, protect your rights, and minimize legal risks. Additionally, if required, a lawyer can represent you in court proceedings.

Debt recovery consulting services

The role of the lawyer

Legal professionals are accountable for aiding and counseling their clients in securing their privileges regarding debt retrieval to avert needless perils and detriments.

The services that we provide

Debt recovery consulting lawyer services are part of the Civil law lawyer services offered by NT INTERNATIONAL LAW FIRM to both individuals and organizations. These services are carried out in accordance with the following cases:

Support consulting and advising on lawsuits to recover debts for individuals and organizations, specifically:

– Individual against individual;

– Individual against organization;

– Individual against company;

– Organization against individual;

– Organization against organization;

– Company against individual;

– Company against organization;

– Company against company;

Incurred debts might include but not limited to:

• Debts incurred from borrowing assets but not repaying on time;
• Debts incurred from violation of contracts;
• Debts incurred from non-contractual damages…

The jobs of the debt recovery consulting lawyer

The responsibilities of a debt recovery consultant lawyer may vary depending on the unique circumstances of each case, allowing them to adapt and tailor their approach to meet the client’s requirements. Here are a few key duties performed by a debt recovery consultant lawyer:

• Consulting and responding to inquiries regarding debt recovery procedures, regulations, and strategies to safeguard customers’ rights.
• Enforce debt recovery measures against debtors, such as send debt payment notifications, directly contacting debtors, engaging in negotiations to establish payment agreements, or initiating legal actions to recover debts.
• Engage in the resolution of debt-related disputes, which may involve participating in negotiations to reach settlements or representing clients in court.
• Offer guidance to customers on financial management, assisting them in devising effective plans to prevent future debt accumulation.
• Conduct investigations and gather information about debtors’ assets to ensure that debts can be recuperated through lawful means.
• Possibly represent clients in debt recovery litigation, striving to achieve the most favorable outcomes for them in these proceedings.
• Advise clients on how to handle cases involving bad debt, including managing and resolving disputes associated with such debt.
• Provide legal remedies to mitigate risks for customers during the debt recovery process,  ensuring smooth process and compliance with the law.

The jobs of the debt recovery consulting lawyer

Debt recovery procedure

Step 1: Verify the documents 

• We will conduct a thorough examination of the legality of debt records by carefully reviewing, assessing, and analyzing the documents and records submitted by our clients. Our objective is to determine the legitimacy and the potential for debt recovery associated with these records.
• Debtor verification and payment capacity: Is the debtor an individual or a corporate entity? Is the debtor alive or deceased? In the case of a corporate entity, is it currently active or dissolved? Does the debtor possess sufficient assets to fulfill the debt obligation?
• Once all documents have been verified, we will provide detailed guidance on the client’s case and the probability of debt recovery.

Step 2: Debt recovery negotitation

Upon confirming the debt collection records, our approach involves engaging in negotiations through either sending invitation letters or conducting face-to-face meetings with the debt collector in order to address and resolve the matter at hand.

The negotiation process serves as an alternative method that does not require legal intervention, aiming to streamline the process and minimize both time and expenses for our clients. Nevertheless, in instances where the debtor exhibits non-cooperation and attempts to evade their debt repayment responsibilities, we will proceed with the essential procedures to initiate legal action in court. This ensures the protection of our client’s legitimate rights and interests.

Step 3: File a lawsuit in Court

Upon the customer’s agreement to pursue legal action for debt repayment, we will provide guidance and support in preparing and executing all necessary legal documents and procedures to safeguard the customer’s lawful rights and interests in the court. Our services include:

• Offering advice on the appropriate procedures to be followed when initiating a lawsuit in court.;
• Drafting petitions to present the client’s case effectively; 
• Submitting all required documents and petitions to the court;
• Providing consultation and guidance on the payment of court fees, advance court fees and charges in accordance with the relevant regulations;
• Representing the client in court proceedings, specifically attending sessions to verify evidence submission and facilitate conciliation;
• Appointing experienced lawyers to protect the client’s legal rights and interests during the litigation process by making persuasive arguments in court’s sessions;
• Offering consultation, guidance, and/or directly initiating requests for judgment enforcement based on the customer’s specific requests;
• Providing consultation and guidance on other procedures related to debt recovery lawsuits as required by the customer…

Remuneration and payment methods for debt recovery consulting services

Remuneration

Remuneration for debt recovery consulting services is calculated as follow:

• If the recovery is accomplished through a mutual understanding, the remuneration will be determined by considering the overall amount of debt that has been successfully recovered, usually falling within the range of 10% to 15%. Nevertheless, the remuneration may differ depending on the intricacy of each individual case.
• The remuneration for filing a lawsuit to recover debt is determined by the total amount of debt collected, typically falling between 20% and 25%. Nevertheless, as mentioned earlier, the intricacy of the case can impact the ultimate remuneration level.

Remuneration for debt recovery consulting services

Payment methods 

There are two methods of paying remuneration for debt recovery including: Payment according to agreement and payment according to litigation.

Paying remuneration according to agreement:

• Prior to deducting the payment percentage, an agreement with the creditor will be established regarding the extent and sum of the collection.

Paying remuneration according to litigation: 

• Client must pay the remuneration amount of 5% on the debt must be recovered before the lawsuit is filed. 
• In the event that there is a First Instance Verditct or Appeal Verdict or Judgment for the case, we shall proceed with debt collection for the client if the debtor chooses to pay voluntarily. However, if the debtor fails to do so, we will seek assistance from the Judgment Enforcement Team to enforce the case.

The official contract signed between us and the client will include the rights and obligations of both parties, and the remuneration and payment method will be clearly stated and specified.

Why should you choose NT INTERNATIONAL LAW FIRM?

NT INTERNATIONAL LAW FIRM is a renowned firm that excels in offering expert legal services for debt recovery consultation. Our team comprises highly skilled lawyers and legal experts who are dedicated to maintaining the utmost confidentiality of customer information. We guarantee transparent and concise service costs, ensuring complete customer satisfaction.

Our exceptional expertise lies in providing counsel on how to best recovery debts and in debt recovery lawsuits. We are committed to standing by our customers’ side and providing unwavering support in any dispute, regardless of the field of law or proceeding stage.

Please feel free to contact us through this number: 090.252.4567 or email: info@ntpartnerlawfirm.com in order for NT INTERNATIONAL LAW FIRM to accurately counsel you on your particular case.