Judical enforcement - ERDOSDR

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Judical enforcement


Knowledge of the enforcement procedure is becoming increasingly important. There are several reasons for this. One reason is the general economic crisis. When people typically worldwide invested their money, such as into the Swiss franc, it raised the price of these currencies. Consequently, interest rates on foreign currency loans increased dramatically, and the debt-ridden people eventually suffer default. In addition, banks bypass the lengthy formalities, via a contract with a notarial deed, which is already directly enforceable and they can even use non-judicial debt collection enforcement on their own, or sub-contracted through asset recovery managers.

The other main reason is that sometime in taxation recovery, unless it is proven via documents that the assets do not belong to a defaulter, the debt collector may impound and seize everything. In this case, a defaulter is left with only court proceedings to try and recover its own assets which may be instituted for infringement of certain executive proceedings, or if they are looking for the existence of adequate enforcement of the restriction.

An important part of implementation of debt collection is they first determine how much the procedure will cost and how to manoeuvre during the implementation and if asset auction can be made, after studying the accounting relationship between the mortgage (debt) and the implementing law judgement of debt or collection, etc.

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