N.B.Our legal advice is also addressed to people (and SMEs) with foreign citizenship or resident abroad.
We charge only a percentage of the money actually recovered.
If you (e.g. British company) have been trying to collect a debt from an Italian supplier and all your efforts so far have been useless or a waste of time and money, you may think that issueing a claim might be a good idea.
For debt collection procedures our clients may find the No winNo fee option as an excellent choice. We charge a 10% fee once we have collected the debts.
We have longstanding experience in insolvencies and debt recovery. That is why we normally follow these two different procedures:
1. Extrajudicial (10% fee)
- Ad hoc financial disclosure: we will have to verify the debtor’s financial situation. Therefore, only if it’s worthwhile, we will draft a Warning Letter (atto di diffida): the debtor should pay within a peremptory deadline (PRELIMINARY PHASE: 30 days)
- If the debtor does not settle his debts, we will serve the counterparty with a formal invitation for mediation before the Chambers of Commerce ADR Authorities (MEDIATION/NEGOTIATION PHASE: 90 days)
- If the mediation procedure fails, or in case the debtor does not pay within the agreed deadlines or the scheduled payment plan, our advice and assistance will focus on the application that has to be drafted and eventually filed (i.e. legal proceeding/judicial phase).
2. Judicial (15% fee)
- Injuction application: the claim will be issued before the designated Court (PRELIMINARY JUDICIAL PHASE)
- Injuction Order: the Court will release an injuction order (i.e. Order of payment) within 6 months approximately (ENFORCEMENT PHASE)
- Apply for a foreclosure proceeding on the debtor’s properties (bank accounts, real estate properties, insurance, etc.): this kind of application leads to a bankruptcy proceeding in case of insolvency. Also, it is not used very often because debtors will want to settle their payments before the applied statutory interests (8% for late commercial payments) make the debt grow larger
Here’s an example.
Calculation as per law: 2000/35/CE and 2011/7/UE
Starting on: 01/07/2013
Payment on: 31/12/2015
Amount Due: € 50.000,00
Total Days: 913
Total interests: € 10.255,62
Amount due + statutory interests: € 60.255,62