DEBT RECOVERY CONSULTING LAWYER SERVICES
NT INTERNATIONAL LAW FIRM is a renowned legal firm that specializes in providing Lawyer Services and Debt Recovery Consulting Laywer 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”. 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.
NT INTERNATIONAL LAW FIRM offers 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.
1. 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.
2. 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.
3. 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 by the law. To safeguard your 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.
4. 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.
5. The services that we provide
Debt Recovery Consulting Lawyer Services are a part of the Civil Law Lawyer Services offered by NT International Law Firm to both individuals and organizations. These services are conducted by various cases, including:
- Providing consulting and advising on lawsuits to recover debts for individuals and organizations in the following scenarios:
+ Individual against individual
+ Individual against organization
+ Individual against company
+ Organization against individual
+ Organization against organization
+ Company against individual
+ Company against organization
+ Company against company
- Types of incurred debts may include, but are not limited to:
+ Debts resulting from borrowing assets but not repaying on time
+ Debts resulting from the violation of contracts
+ Debts resulting from non-contractual damages.
6. The tasks of the debt recovery consulting lawyer
Debt recovery consulting lawyers handle various tasks to assist clients in recovering debts effectively. Their responsibilities include:
- Guiding debt recovery procedures, regulations, and strategies.
- Enforcing debt recovery measures, such as sending payment notifications and negotiating payment agreements.
- Resolving debt-related disputes through negotiations or court representation.
- Offering financial management advice to prevent future debt accumulation.
- Conducting investigations to gather debtor information and assess asset recovery options.
- Representing clients in debt recovery litigation for optimal outcomes.
- Advising on handling cases involving bad debt and resolving associated disputes.
- Providing legal remedies to mitigate risks and ensure compliance with the law throughout the recovery process.
7. Debt recovery procedure
- Step 1: Document verification
We meticulously examine the legality of debt records by thoroughly reviewing and analyzing the documents submitted by our clients. Our goal is to assess the legitimacy and potential for debt recovery associated with these records. We verify details such as the debtors status (individual or corporate), their viability for payment, and asset possession to fulfill the debt obligation. Once verified, we provide detailed guidance on the case and the likelihood of debt recovery.
- Step 2: Negotiating debt recovery
After confirming the debt collection records, we initiate negotiations through invitation letters or face-to-face meetings with the debtor. We aim to resolve the matter without legal intervention, minimizing time and expenses for our clients. However, if the debtor refuses to cooperate and evade repayment, we proceed with legal action to protect our client’s rights and interests.
- Step 3: Legal action
Upon the client’s agreement, we assist in preparing and executing all necessary legal documents and procedures to safeguard their rights in court. Our services include advising on court procedures, drafting effective petitions, submitting documents, guiding on court fees, representing clients in court proceedings, and initiating requests for judgment enforcement based on specific client requests. We offer consultation and guidance on other debt recovery-related procedures as required.
8. Remuneration and payment methods
8.1. Remuneration:
Remuneration for debt recovery consulting services is calculated as follows:
- Mutual understanding: If the recovery is achieved through mutual agreement, the remuneration will be determined by considering the total amount of debt successfully recovered, typically ranging from 10% to 15%. However, the remuneration may vary depending on the complexity of each case.
- Lawsuit filing: When filing a lawsuit to recover debt, the remuneration is determined based on the total debt collected, usually between 20% and 25%. However, as mentioned earlier, the complexity of cases can impact the ultimate remuneration level.
8.2. Payment methods:
There are two methods of paying remuneration for debt recovery:
- Payment according to agreement:
+ An agreement will be established with the creditor regarding the extent and sum of the collection before deducting the payment percentage.
- Payment according to litigation:
+ Before filing a lawsuit, the client must pay a remuneration amount of 5% on the debt to be recovered.
+ If there is a First Instance Verdict, Appeal Verdict, or Judgment for the case, we proceed with debt collection if the debtor voluntarily chooses to pay. However, if the debtor fails to comply, we will seek assistance from the Judgment Enforcement Team to enforce the case.
The official contract signed between NT International Law Firm and the client will outline the rights and obligations of both parties, clearly stating and specifying the remuneration and payment method.
9. 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 recover 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: +84 902524567 or email: info@ntpartnerlawfirm.com for NT INTERNATIONAL LAW FIRM to accurately counsel you on your particular case.
