Credit recovery

Credit recovery

The credit recovery activity aims to satisfy the client by allowing the same to obtain payment of a receivable, if the debtor has refused to honour its service or when the debtor is experiencing difficulties in fulfilling its’ obligations.

The Law Firm Macchion Resoli & Associates deals with domestic credit recovery, directly throughout the Italian territory, and international credit recovery, participating in international associations and then making use of the collaboration of the associated professionals, who speak the Italian language, throughout Europe, America and Asia.

Credit recovery activities are divided into two different phases. The first is the so-called out-of-court phase, in which the firm tries to solve the problem in a "good-natured" way, obtaining even partial fulfilment within a reasonable time, through notices, acknowledgements of debt and balance and liquidation payments. The second, so- called in court phase, is that in which one already has an enforcement order (bills, documents received from a notary public or a public official), or an application is made to the Courts to obtain them, initiating a warning procedure, or obtaining executive judgements and measures. If the debtor fails to make payment, the most appropriate enforcement procedure will be used.

   Enforceable procedures

An execution of judgement aims at ensuring that the creditor receives payment of its credit if the debtor has not promptly executed his obligation spontaneously or has expressed a contrary intention.

A prerequisite for executions of judgements, other than the enforcement order, is the notification of the writ of execution. The latter, in fact, is the preparatory document to the enforcement proceedings and specifies the amount owed by the debtor including expenses and legal fees for the entire procedure. In fact, the legal expenses necessary for the recovery of the credit are to be borne by the insolvent debtor.

The execution of judgement refers to movable, immovable property or debtor's receivables.

For movable assets, the law firm will resort to the Bailiff responsible for the territory, while for immovable property, property expropriation will be achieved through the notification of a writ from the law firm and the transcription of the writ in the Public Real Estate Registry Offices. Subsequently, through public auctions, either way, the proceeds necessary to cover the client's credit will be obtained.

For that which concerns execution on third party premises, the law firm will seize assets that are not in the physical possession of the debtor, but the so-called “debtor of the debtor”, which can be a bank, social security institution or the employer, therefore, fulfilling the client’s credit through third parties.

The Law Firm Macchion Resoli and Associates has been involved in executions of judgements since its establishment and today is at the forefront for this activity, at the service of companies and individuals.