At Phuoc & Partners, we recognize the challenges individuals and businesses face when dealing with delinquent accounts and outstanding debts. Our mission is to alleviate the burden by offering comprehensive legal services designed to recover what is rightfully yours, while ensuring compliance with all applicable laws and regulations.

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Debt Recovery Services

Letter-of-Demand

Letter of Demand

Our firm can draft and send form letter of demand on your behalf, demanding payment from debtors and conveying the consequences of non-payment. These letters are crafted to be persuasive and professional, encouraging debtors to fulfill their obligations without resorting to litigation.

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Negotiation

Negotiation

We are skilled negotiators who can engage with debtors to reach mutually acceptable repayment plans, or other arrangements. Our goal is to facilitate constructive dialogue and secure favorable outcomes that satisfy your interests while accommodating the financial circumstances of the debtor.

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Litigation

Litigation

When negotiation fails to resolve the debt, we are prepared to initiate legal proceedings on your behalf. Our attorneys have extensive experience in debt collection litigation and can effectively advocate for your rights in court. With a high success rate when open dispute resolutions.

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Enforcement

Enforcement

When a debtor fails to voluntarily repay a debt despite an effective judgement of the competent court, our firm can help you resorting to enforcement measures to recover the outstanding debt. These can include requests to freeze trading accounts. Or request bankruptcy for the business.

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FAQs

Can you collect a debt that is considered too old?
We shall need to assess the status of limitations of the debt first. While there may be limitations on pursuing older debts, it’s still worth to explore potential options.
How do you charge for your debt recovery services?
Fees for debt recovery services may be calculated based on various factors, such as the amount of the debt, the complexity of the case, and the services provided.
What documentation is necessary to support debt recovery efforts?
You should provide any documentation related to the debt, such as contracts, invoices, purchase orders, payment records, etc.
Can you help me to recover money if I don’t have all documentation for the debt?
Our lawyers will work with you on the status of documents and give you a suitable option based on your actual status of documents.
What types of evidence are helpful in proving an outstanding debt?
The types of evidence considered most valuable in proving a debt include signed contracts or agreements, invoices or billing statements, payment receipts or records, correspondence between parties, and any other relevant records that document the transaction or obligation.
Is it possible to recover debts without resorting to legal action?
Yes, in many cases, debts can be recovered through negotiation and settlement without the need for legal action.
How long does the debt recovery process take?
The duration of the debt recovery process can vary depending on factors such as the amount of debt, the cooperation of the debtor, and the complexity of the case. Some cases may be resolved quickly through negotiation, while others may require litigation, which can prolong the process.
What information do you need about the debtor to start the recovery process?
Full name and address of the debtor should be provided to us for checking conflict of interest first. In case of free of conflict of interest, other documents related to the debt shall be requested later.
What if the debtor has declared bankruptcy?
If the debtor has declared bankruptcy, we can advise you on the implications for debt collection efforts and assist you in navigating the bankruptcy process. We can also represent your interest in bankruptcy proceedings.