What it involves

Dedimpresa Project

How we conduct debt recovery

The recovery action is aimed, of course, at obtaining the maximum benefit for the Client by recovering the balance in its entirety in addition to legal fees and interest on late payments. In this regard, it should be noted that for economic transactions between businesses or between businesses and public authorities, the debtor must pay the creditor a particularly high interest rate (corresponding to the rate of the main refinancing instrument of the ECB incremented by eight percentage points). Furthermore he must reimburse the costs incurred for the recovery of the amounts not paid on time, notwithstanding where greater damage can be demonstrated.

The normal procedure for the recovery of a debt entails a formal written warning. When the deadline given to the debtor (generally 15 days) is not respected, a petition for a court order, based on the accounting records of the creditor, is followed. Upon the expiry of the 40 days from notification, if there is no opposition, the decree then becomes final and can be executed, constituting valid initiative to begin compulsory enforcement, which is forewarned by an act of requisition and fostered by repossession.

The variety of possible scenarios, however, does not allow the activities necessary for the recovery to be determined in advance. These activities can vary from the regular procedure, especially when the claim is disputed or the debtor is subject to insolvency proceedings. In some cases a simplification of the service may occur. For example when the creditor is in possession of outstanding promissory notes issued by the debtor, these notes can represent immediate execution, without the need to request the issuance of a court order.

In order to benefit from every opportunity deriving from debt recovery, especially for significant amounts, the implementation phase could be preceded – on agreement from the Client – by consulting public and private databases and, if necessary, by using official investigative agencies to gather useful information such as the active address of the debtor, his job details and income, his credit history with banks or other parties, details that can pinpoint his vehicles or real estates which can later be seized etc.

Each mandate is carried out in close collaboration with, if present, the credit manager in the Client’s company. He would be constantly informed during briefings dedicated to analysing the development of the complete credit situation and through the delivery of periodic updated reports.

We have a particularly useful and innovative service for Clients to obtain, in real time, updates on their credit situation. The Chiarini Law Firm has, in fact, developed a software that automatically informs our Clients of any recovery activity that has been cleared and allows him to access the restricted area where he can consult, at any time, his on-line file.

This service is accessible from the Client Area section of this website, once a user-ID and password are obtained. To view a demonstration of the program or if you would like any further information, please do not hesitate to contact us by using the addresses in the Contacts section.