| During the pre-legal collection process we will attempt to recover an overdue debt for an approximate 6-8 weeks. After this period we will reassess the case and have to decide whether we continue engaging the debtor within the pre-legal process, or if we take it one step further and start preparing for legal proceedings. In case of the latter we have one intermediate solution which serves as a pre-step before the actual legal proceedings start. It is a Final Notification Letter issued by our lawyers in order to persuade debtor to settle the case before it is taken to the Enforcement Office. The strength of this notification lays within all the details that are summed up to debtor. These will convey the message that creditor is now serious in its resolve to recover its outstanding money. Within it the lawyer furthermore announces his/her assignment of the debt file and the ongoing preparations for the legal process. The debtor is informed that the creditor is filling the Power of Attorney (PoA) and its given the name of the official name of the law firm and all the credentials of the lawyer who is to initiate the legal proces. Also, a specification is given of the exact financial consequences in case of a Ruling against debtor, i.e. the added interest, the indemnification as added by the Court, and all further legal expenses making up for the total claim. Also, the debtor is informed on the exact date the case will be filed at the Enforcement Office. All above mentioned details will cause the debtor to once more reconsider whether he should continue not paying its debts. There is a strong culture of \'lawyer-deterrence\' in Turkey in which the mere naming of lawyer involvement will induce a certain fear within people. Despite the fact that a legal process is not yet officially started, the fact that the debtor will perceive of this final notification to be signed and sent by a lawyer has in 65% of the cases resulted in a first payment. These letters can also be ordered separately as a one-off item. Please contact us for more information |
Thursday, 12 January 2012 15:32
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