Recovery of debts and money can be both frustrating and time consuming in Pakistan. The best way to go against the defaulters is to choose the right form of legal action at proper time otherwise you might suffer. We are very successfully providing services for recovery of bad debts and loan by initiating civil and criminal proceeding against defaulters. Our Lawyers in Karachi, Lahore, Islamabad, Hyderabad and Thatta, have extensive legal experience in debt-recovery laws. We aggressively pursue your debts collection process in Pakistan and recover your debt and money in very fast manner.
We provide legal services for those clients who are not afraid to take an aggressive legal approach in the recovery of their debts. If you want more money recovered with a legal, safe and fast manner, contact our law firm. Our practice consists of associates at Karachi. We have extensive experience in distress debt trading industries. Our attorneys regularly appear on behalf of clients in bankruptcy courts in Karachi.
Taking legal action to reclaim debt should be a last resort, and often the threat is enough to make your customers pay you. However, if your usual ways of recovering debt have failed, there are things to consider before beginning the legal process.
Consider some form of alternative dispute resolution, such as mediation or arbitration. Contracts may already specify how disputes should be resolved. Resolution procedures can make it easier to control costs and are often less confrontational than court proceedings.
Mediation is a simple, cheap method of resolving disputes. It can save you time and money and can assist all parties in reaching a mutually beneficial resolution. This can help maintain the business relationship once the dispute is settled.
Even if making a claim seems the only answer, you should consider your chances of winning. In many cases your claim may not be disputed. But in others, it could be difficult to prove the customer is at fault.
Remember that you can’t be certain of receiving the money owed – let alone any costs or expenses – if the person or company you’re taking action against has no assets or a history of bad debt. Credit reference agencies should be able to give you a credit rating for the defendant and details of any unpaid court judgments.
If you win the judgment, the customer is required to pay the sum claimed. If properly claimed, they are required to pay court fees and interest as well. If they do not pay, you must be prepared to take steps to enforce the judgment. For this client have to note that:
- court fees are payable when you issue a claim and if you have to enforce the judgment
- fees are payable if you lose or do not succeed in enforcing your judgment
- you may have solicitor’s costs and other costs – if you win and succeed in enforcing the judgment, you may be able to claim these back from the defendant
You will have to pay court fees in advance. However, they can be recovered from the defendant if you win. If you lose or you do not succeed in enforcing your judgment you will not be able to reclaim those costs.
We advise both local and international companies on a full range of legal issues from non-contentious corporate and commercial matters, including major project work; establishing and conducting business in Karachi Pakistan, joint ventures, mergers and acquisitions, employment matters, distributions and franchise arrangements. For international Clients having legal issues in Dubai, Abu Dhabi, Qatar and other Gulf cities and areas prefer to engage us due to cost effectiveness. We charge very reasonable professional Fees for International Arbitration in Dubai, Abdu Dhabi, Qatar and Gulf cities and areas.
Fell Free to Contact Us for detailed consultation.
Telephone: +92 321 2057582
Regular Website: http://www.irfanlaw.com
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Irfan Mir Halepota & Associates
Law Firm in Pakistan dealing with Commercial, Intellectual Property, Arbitration and Family Laws of Pakistan.
E-26, Glass Tower, Clifton
Phone: +92 321 205 7582