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Debt collection

Whenever your clients do not pay their debts in time, your company is at risk and it is recomendable for you to start to collect your receivables.  The shortfalls in the payments from contractors and suppliers  are frequent cause for  insolvency. TM Legal Consulting have solid experience in collecting of contractually owed debts from companies and persons registered and living  in Bulgaria.

Our main goal is promptly to secure the payment of your outstanding debts, preserving in the same time the existing business contacts and relations. Further to our practical experience, we can  advise and offer to you a cost - effective legal solutions pertaining to in and out of court recovery, including enforcement proceedings.

Very often the traditional out of court debt collection procedure do not repay the due obligations and filling a court claim remains the only legitimate way to protect the interests of the creditors. In this case  our highly qualified lawyer will instigate a legal action, aimed  either to recover the due sums from the bank accounts of your debtor or to start an enforcement procedure on the existing property.  

Before the starting of the procedure it is recommendable to check the assets of your debtor, because it is important to know whether the properties can cover the due debts and associated expenses. We can help you to do that. The results from the preliminary check could help you to determine what action should be undertaken for the fastes and safest collection of the due sums.

Depending on the specific of the case, the rights of the creditor can be protected either through standard litigation procedure, or through out of court practice
for issuing of a payment order. The collection finishes with enforcement actions and cashing of the debtor's properties and assets.

Todor Mangarov Law office has accumulated a solid experience in investigating of the assets of the debtor, in organizing and starting of litigation proceedings by performing all legal actions in order to obtain an execution order.

We also advise and represent our clients with regards of the cashing of the properties of the debtor.