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Debt collection

Don’t waste your time chasing debtors, leave it to Credeo experts. They not only recover your debts but also ensure the professional relationship and partnership with debtors.

 

 

Debts

Debts. Don’t let your debts become old!

Pre-legal debt collection

Pre-legal debt collection is the cheapest and fastest way to recover money from a debtor with no cost.

On the same day, when the service is ordered, we send a demand letter to the debtor by registered mail and/or email requesting him to pay the debt; we will also contact the debtor by telephone.

Our aim is to persuade the debtor to pay immediately or draw up a payment schedule that is acceptable to our client  covering not only the debt and fine, but also the cost of the debt collection (Article 6.249(4)(3) of the Civil Code of the Republic of Lithuania).  The promissory note (vexel), which is signed by the debtor, ensures fulfilment of the payment obligations.

Judicial debt collection

If it turns out that the debtor cannot or will not pay the debt, or fails to follow the signed schedule, that the property could be or has been transferred to a third party – we can commence the judicial debt collection procedure.

Our professional attorneys and lawyers represent clients in court at all legal instances, draft all the procedural documents, provide consultations on procedure, evidence and proof, assess the prospects for the dispute.

Post-judicial debt collection

Post-judicial (enforced) debt collection is an exclusive prerogative of a Bailiff to apply the measures provided by the law. But success in debt collection depends also from active role of a creditor. Therefore, we not only pass the executive documents to a Bailiff in the name of our clients, but also monitor that all legal measures providing for fast and real debt collection are applied in a timely manner.

 

Debt collection in case of bankruptcy

Debtor insolvency is the most common reason for non-recovery of long-standing overdue debts. Therefore, it is important to recover at least part of the debt from a company in financial difficulty, and to initiate the bankruptcy procedure in a timely manner as well as duly represent your interests during the whole proceedings.

We draft all the documents in the name of the client for initiation of bankruptcy proceedings, creditor claims, and represent the creditor in meetings, etc.

Debt write-off

This is the process where the creditor collects information about a hopeless debt and obtains the right to regain profit tax paid and value added tax.

If, after fully evaluating the debt collection possibilities, we conclude that there is absolutely no possibility of collecting the debt, we provide the client with a certification for a write-off.

 

Stamp

The stamp is visual evidence that there is a debt collection company monitoring that assumed financial liabilities are fulfilled.

The stamp is an indication to the buyer that abuse will not be tolerated and acts as a subtle encouragement to the buyer to fulfil its financial obligations in a due and timely manner.

Companies database

Information that the company has about the buyer or that is freely available publicly is often not sufficient for proposing crediting or debt management solutions. Our clients can access our database of Lithuanian companies which has detailed information on an entity: its legal status, number of employees, the managing director, bank and contact information, obligations, initiated legal proceedings, seized assets, etc.

Consulting

Credeo provides consultations on trade credit insurance, company risk assessment, trade finance and debt collection. This allows clients to expand sales, stabilise cash flows and reduce the risk of bad debts.

Experts

Debt collection experts

If you have overdue payments, do not hesitate any longer. Contact us – our experts will help you to recover your debts in the most effective way.

Rimgaudas Aukselis Partner/Head of Debt Collection
Audra Balsevičienė Debt Management Expert
Recovery

Apply for debt collection

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