Debt collection and purchasing

Coin Consult Law Office offers collection and purchase of debts both from debtors-natural persons and from debtors-legal entitiesIn this regard we undertake all necessary extrajudicial and judicial activities as prompt and efficient as possible in order to collect the respective debt.
The debtor’s financial and property condition is a very important factor in the successful debt collection. For this reason, before we undertake a specific case, we perform a free study of the debtor’s solvency and property condition, as well as of all documents certifying the debtFollowing this check wenotify our clients whether we would undertake the respective debt or not and the respective conditions under which we would commit to the engagement.
Depending on the debtor’s solvency, Coin Consult Law Office may undertake all expenses connection with the debt collection, including the payment of state fees, attorney’s fees, etc.
Coin Consult receives its remuneration following the debt collection.
Depending on the debtor’s solvency, Coin Consult Law Office may offer to purchase the debt.
Debt purchase takes place via acession agreement. Cession is a contract, by which the creditor of a debt transfers it to a third party against the payment of a certain price. The debtor is not a party to the cession agreement and therefore his/its consent for the debt purchase is not necessary.
The parties under the cession agreement are respectively the cedent and cessionary. The cedent is the creditor that transfers the debt, and the cessionary is the party that purchases the debt or the new creditor. By purchasing the debt the cessionary enters as a creditor into the cedent’s rights as regards his/its relations with the debtor. The cedent is responsible for the existence of the debt during the conclusion of the cession agreement , i.e. that the debt is valid and has not been redeemed and that the cedent is its bearer. However, the cedent is not responsible for the debt collection, respectively for the debtor’s solvency. Following the purchase of the debt, all costs connected with its collection are at the cessionary’s expense.
Any debt is subject to purchase, unless the law, the contract or the debt nature prohibits the transfer. In order for us to make a statement on whether the purchase of a specific debt is of our interest or not, we always perform a study of the debtor’s property condition.

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