Debt collection

 

Debt collection is taken to refer to the recovery of financial claims that are due. A debt collection lawyer specialises in securing unpaid, overdue invoices promptly. A debt collection lawyer will as a rule go about this by issuing pre-collection letters and securing payment orders in order to secure payment or a legal instrument (a judgement or an enforcement) with which the claim can be enforced.

 

Every legal action must also be examined as to its economic significane, and every action must be based on a cost-benefit analysis. This means that it is necessary to consider not only the costs of enforcement but also the assets that can be distrained and the debtor’s creditworthiness.

 

The decisive point is that the debt collection lawyer helps to keep outstanding debts as low as possible. And also to ensure liquidity.