Collecting money from a debtor can sometimesrequire creative solutions. Urgent action is sometimes needed, but sometimessuch action can just be a waste of time and money. We can advise on the most cost effective course of action.
Any debt collection starts bycollecting information about the debtor. The financial and economic situation of the debtor and his previous behaviour will determine the best course of action. In Estonia there are several electronic registers of corporate data, which can be accessed by authorised persons, including law firms. Some registers are not public, but access by attorneys is permitted. Personal contacts in specific areas of business may also help to understand the position of the debtor.
Based on the information collected, it is possible to decide whether to negotiate or to file a claim or bankruptcy notice. Sometimes even a crime alert may have to be filed.
Ship arrest is a typical situation where action is takenfirst and successful negotiations can follow afterwards.
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