Recovery of execution
Executive sheet - a document issued by the arbitral tribunal, which allows the debtor to the forced return of the debt.
Staff reservoir companies have the right at this stage forced to write off money from current accounts to customers the debtors to recover the debt. At this stage of negotiations with debtors on repayments.
Since 01.02.08 the territory of Russia came into force a new Federal Law of 02.10.2007 N 229-FZ «On enforcement proceedings». Federal law defines the terms and procedures for the enforcement of judicial acts on the territory of Russia. Enforcement of judicial acts carried out by special service - service bailiffs.
Bailiffs executing, in accordance with art. 64 FZ of 02.10.07 N 229-FZ, have broad authority for the enforcement of judicial decisions on the recovery from debtors.
In particular, bailiffs, Executing have the right to:
- Attach to the property, including cash and securities, to seize the assets;
- Verification of the financial instruments for the execution of executive documents;
- To search for debtors and tracing assets.
Dates of debt collection on execution, on average, ranging from 1 to 3 months. For complex cases, and when it comes to the recovery of millions of large debts, the recovery may last longer than 6 months.
Modus Operandi of debt collection for execution:
• analysis of the financial situation of the debtor;
• the debtor direction demands the return of debt;
• negotiations with the debtor on repayment of a debt;
• monitoring implementation of the agreements;
• seizure of funds belonging to the debtor accounts;
• presentation of execution to recover the debt service bailiffs;
• monitoring the work of bailiffs executing debt collection;
• Promotion Service bailiffs to obtain timely information about the debtor"s assets;
• participation in the seizure and sale of property of the debtor;
• control of payment.
At the stage of enforcement of execution specialists reservoir companies operate as independently with the debtors, and carry out dense interaction with the bailiffs service, helping to obtain intelligence information about the debtor, the existence of his property and money in the accounts.