FAIR DEBT COLLECTION PRACTICES IN ENGLAND

The first and one of the most important practices in out-of-court debt collection is analysis of trade documents. This service allows you to determine whether the case is promising, determines the main legal aspects of future negotiations, allows you to see errors in contracts for using the acquired knowledge in further commercial activities. Also, these documents are the basis for the future possible study of the portfolio.

The credit check of the debtor's company is undoubtedly almost the most important stage in the work of a collection agency. The fact is that in the presence of legal grounds, but in the absence of assets from the debtor company, it is impossible to receive payment for obvious reasons. In this regard, a credit check is necessarily carried out either by the agency or by the client himself before starting work on the portfolio, which will avoid unnecessary time costs and unnecessary actions.

Before starting work on the successful closure of the case, the lawyer must properly understand which strategy for peaceful settlement he will choose. This is very important, because the success of closing the case depends on the correct approach.