The best tips for debt collection in Italy
Debt collection in Italy can be frequent for many companies that carry out international transactions in Italy. Some Spanish companies seek to recover large-scale debts. Fortunately, there are a number of strategies and legal advice that can be followed in order to achieve the goal of successfully collecting debts owed to you.
The debt collection procedure in Italy is different from that in other countries, but it is somewhat similar to the one used in Spain to claim debts. It is advisable to carry out the procedure from very large debts, such as €50,000.
The 5 legal tips for effective debt recovery in Italy
In the context of a globalized economy, business operations easily cross national borders. However, when these transactions become complicated, problems arise for companies, such as when a company is owed a lot of money. Here we present five key recommendations to face the debt recovery procedure in Italy efficiently, and to be able to successfully collect the defaults that you may have in Italy.
Delve into the laws and legal system of Italy
First of all, it is essential to understand that each country has its own legal framework and its own legislation regarding debt collection. The same goes for Italy. In order to be able to collect a debt in Italy, it is essential to understand the legal framework and the Italian legal system itself regarding debt collection. This knowledge will allow you to act safely and effectively at each stage of the process.
Prioritize effective communication
Clear, respectful and constant dialogue with the debtor is a highly valuable tool in the debt claim procedure in Italy. Sometimes effective negotiation can lead to beneficial settlements and avoid longer and more expensive legal proceedings. For this reason, whenever possible, it is advisable first to carry out a friendly negotiation to recover the debt in Italy, and only in the fact that this does not work, to urge legal proceedings.
Collect the documentation that proves the debt
It is extremely important to collect all the documentation that proves the debts, as well as the evidence and documents that support the debtor to be able to claim the debt in Italy, both through friendly channels and in the Italian Courts. Contracts, invoices, communications and conversations between the debtor and creditor, delivery notes, etc.
Use a trusted law firm that handles debt collection in Italy
Working with a trusted debt collection lawyer in Italy can be totally in your interest to recover the debt as soon as possible. In this way, you will have a lawyer who speaks your language, who has experience in claiming debts in Italy, and who will be able to advise you throughout the procedure with complete transparency.
You have to be patient
Debt recovery in Italy can be a process that takes time, and requires a lot of patience. Keep a positive attitude, without losing sight of your goal. Remember that with the right strategy and the support of trusted lawyers, you will have a greater chance of success.
The debt claim procedure in Italy
The debt recovery process in Italy can be divided into two main phases: the preliminary phase and the judicial phase, both phases are described below to provide you with a clear overview of the procedure.
Preliminary Phase in Italy
In Italy, the preliminary phase of the debt claim procedure focuses on being able to recover the debt in a friendly way, without having to go to court. During this stage, the creditor (or his legal representative) will contact the debtor, normally through a prior friendly request (better if it is Notarial), known in Italy as 'lettera di sollecito'.
When sending the request or prior communication, it is essential to indicate the amount owed, the applicable interest and request payment within a specific period. There the lawyer's ability to recover the debt quickly and efficiently plays an important role.
The preliminary phase is important to do because it provides the opportunity to resolve the matter without resorting to the Courts, which will always be slower. Friendly negotiation with the debtor can lead to a payment agreement, which can save time and resources.
Judicial procedure in Italy
If the debt cannot be recovered in the preliminary phase, the procedure enters the judicial stage, it is recommended to go to the Italian Courts from debts greater than €50,000.
Going to the Italian Courts to recover a debt implies filing a claim before the competent Italian Court, and subsequently holding a trial in which the claimant will have to prove that the debt existed, that it is real, and that it is owed. When the trial has been carried out, there will be a Judgment, which, if positive, will condemn the debtor to full payment of the entire debt, plus legal interest.
Once there is a Judgment, the execution of the debt will be carried out to be able to collect it, or also known as "inguntivo decree" in Italian. Once the ingiuntivo decree is obtained, the creditor has the right to initiate the forced execution, which implies the Possibility of seizing bank balances, and personal and real estate of the debtor to cover the entire debt.
Undoubtedly, if you go hand in hand with an expert law firm in debt claims in Italy, it is a guarantee of success.
Large debt recovery
In debt collection procedures in Italy over €200,000, the procedure even if it is the same or practically the same, the costs are increased to be able to claim all the debt in Italy.
Meticulous planning and preparation
Debts of large amounts require extra preparation, and above all review every last document that exists on the debt, in order to ensure the prompt recovery of everything owed.
Do you want to collect a debt in Italy?
If you want to successfully claim a debt in Italy, and this is a large one, we recommend you contact a trusted law firm with experience in claiming debts in Italy. We have expert lawyers who can guide you through the debt recovery procedure in Italy, guaranteeing the best possible result.
Each debt recovery case is unique, so we focus on providing you with personalized advice that suits your specific needs. From the initial assessment to the recovery strategy and the execution of the debt on Italian territory, we provide you with guidance every step of the way.
Collecting debts in Italy is possible, it may seem difficult, but with the strategy of an expert law firm in claiming debts in Italy, it will be much easier.
Contact Forcam Lawyers, and he lawyers who are experts in debt collection in Italy will study your specific case.
We can assist you in person at our offices in Barcelona, Tarragona, Reus and Tarrega. In addition, we can also serve you remotely (videoconference, telephone, etc.), since we take care of claiming and recovering debts in Italy, serving both national and international clients.