Pre-litigation debt recovery is a necessary legal measure that combines communication and negotiation with the application of legal pressure to request that the Debtor make payment to the Client before the Client initiates legal proceedings at Court or Arbitration. The objective of the pre-litigation debt recovery stage is to recover the principal debt without having to commence formal legal proceedings.
This is a proactive and flexible method that helps Clients reduce legal costs, as well as the time and effort involved in debt recovery. In addition, approaching the Debtor through pre-litigation debt recovery enables the Client to assess the Debtor’s operational and financial status, strengthen the evidentiary file supporting the debt, and/or seek to restore the statute of limitations for initiating a claim against the Debtor at Court or Arbitration.
With a team of lawyers and legal specialists possessing in-depth legal knowledge and extensive practical experience, TNTP and Associates International Law Firm has successfully implemented numerous debt recovery strategies from the pre-litigation stage, including long-outstanding and difficult-to-recover debts.
The scope of TNTP’s pre-litigation debt recovery services includes:
– Reviewing all documents provided by the Client and discussing with the Client to clarify unclear issues related to the debt;
– Searching for and collecting additional information and documents related to the Debtor;
– Prepare the Client’s Power of Attorney for TNTP to settle the case;
– Work with the Debtor via telephone and email to verify the debt (if necessary) and to request full payment of the debt to the Client;
– Arranging meetings to discuss and negotiate with the Debtor in order to reach an optimal repayment plan;
– Drafting and sending Letters of Demand to the Debtor;
– Drafting and sending Letters to relevant organizations or competent agencies to request assistance in debt recovery for Client;
– Proposing appropriate debt recovery methods based on the Debtor’s financial condition and capabilities;
– Advising the Client on further debt recovery measures if the pre-litigation approach does not result in full recovery of the debt.
