The economical trends occuring worldwide during the recent years have made it evident that an inadequate management of outstanding receivables can result in severe liquidity problems at any company, causing at times an ultimate failure in the continuation of its business activities. Experience shows that a legal representation from the outset does not only trigger a much higher ratio of duly and timely settled receivables, but also ensures a legal control throughout the collection procedures prior to the litigation phase.

Within the scope of its receivables management practice, LegalAgain undertakes the comprehensive management of the outstanding receivables of its clients starting already from the conclusion of the underlying contracts. Thus, in addition to an efficient debt collection method, it is a key aspect to protect the reputation of our clients and their business relations. Thanks to our well-established international legal network, LegalAgain accomplishes the collection of not only domestic but also cross-border receivables with an outstanding efficiency.

During our receivables management activities, we scrutinise and classify, from a debt collection perspective, the contractual relations of our clients. We also elaborate on the commitments securing the receivables and exercise them if proven necessary. Furthermore, we examine the business partner of our client before the relevant contract is signed, and continuously monitor him (bankruptcy reports, company information, company excerpt, obtaining balance sheets) during the existence of the contract. We also participate in the personal negotiations with the debtors, conclude agreements on instalment payments, check the payments made and also reschedule the payment term when need be.

Following the administrative phase of receivables management – after a thorough analysis of the precedents and the legal basis of the outstanding receivable –, we suggest a means of enforcement that should be the most reasonable and efficient under the given circumstances. As part of our debt collection services, we send payment requests, prepare requests for the issue of payment orders, and represent our clients and their creditor’s claims during the bankruptcy, dissolution and liquidation proceedings, as well as during corporate procedures affecting enforceable properties, and civil litigation and enforcement procedures.

Throughout the receivables management and debt collection procedures, we put a heavy emphasis on the personal contact with the debtors, where the mediation services of our specialised colleagues will have a crucial importance.

We render our receivables management services by our own legal and other graduated colleagues, the personal contacts with the debtors are carried out by our contracted partners. For the purpose of our services, we use our internally developed software that is highly capable of handling a large number of cases, which also allows our clients to gain up-to-date information on their affairs through a remote access made available to them.

LegalAgain prepares a personalised fee quote for each client where the specialties of our receivables management services, as well as the requests by our clients, are taken into account.