RECOVERY IN BANKRUPTCY PROCEDURES
We entirely support liquidators and commissioners during proceedings, from debt management to debt recovery.
DCE provides a debt recovery service from bankruptcy and liquidation procedures with the purpose of increasing and accelerating the debt recovery both in Italy and abroad.
The advantages connected with outsourcing debt recovery are clear from both Proceeding and Professional’ s points of view:
- The purpose of the debt recovery service from bankruptcy proceedings is to exempt liquidators from those operating charges for the portfolio’s debt recovery included in the Proceeding;
- More collected amounts;
- Bankruptcy proceedings such as Bankruptcy, Compulsory Winding up, Workout Agreement with creditors, Restructuring Agreements pursuant to article no. 182 bis of the Bankruptcy Law, rise costs and DCE is compensated only when achieve results and recover the debt.
- A team of professionals and operators closely assists the liquidators during accounts reconciliation and assets liquidation by assessing potential recovery value and timing.
- Possibility to show the performed tasks in case of unsuccessful results.
Procedure
- Due diligence of documents
Firstly, team members proving support, will draw up a due diligence including debts portfolio to assess both real value and estimated collection value. - Verification of validity and debtors’ solvency
Our specific debt recovery service connected with bankruptcy proceedings contemplates an expert operator coordinating tasks with lawyers and local chargers and overseeing debt recovery activities. - Exploratory Contact
The contact with debtor administrative service has the purpose of identifying the debtor contact person. - Debt reconciliation
The client’s accounting documents are matched with debtor ones, verifying and deleting any difference, including balancing their accounting items. Both statements of account are verified, payments, including partial payments are recorded and differences are eliminated. - Debt redemption
At this stage formal and substantial debt correctness are verified matching the compliant performance with the relevant invoice, purchase order and the invoice correctness from the accounting’ s point of view. - Reminder
At this stage periodical actions are performed at the local governments’ sites to monitor the collection follow-up activities for each invoice.
- Sending extra-judicial reminders
- Phone collection
- Home collection
- Sending legal written reminders