Ancora

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Conciliatory Proceedings

Before taking the case, the company’s employees initially verify the debt and the debtor. This gives the information whether there were any debt enforcement proceedings against the debtor, whether any petitions for bankruptcy or arrangement proceedings have been filed, whether the debtor continues its activities and what its financial situation is. 

The conciliatory proceedings’ aim is to collect the debt without bringing a case to court. The Company’s employees attempt to obtain all the documentation required in order to obtain a writ of payment in the proceedings. The following actions are taken as a part of pre-litigation proceedings:

  • Sending a call for payment to the debtor
  • Negotiating debt payment schedule with the debtor
  • If the current address of the debtor is missing, administrative actions are taken in order to establish the current registered office and place of residence of the debtor
  • There is a possibility of restructuring the debt

As a result of the conciliatory proceedings, the terms of payment may be altered for more convenient ones through breaking the debt down into instalments, total or partial suspension of payment. The creditors who agree on concessions to their debtors often require an additional security of debt repayment, which in the event of non-payment may help to effectively collect the debt or will shorten the relevant court proceedings. 

Receivables may be recovered based on invoices, agreements, bills of exchange, documents confirming the receipt of goods and services, on account 

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Arkana

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