Negotiation & Debt Acknowledgment
Settling without court, with a crucial side effect: the limitation period restarts.
When you need this
The debtor admits the debt but wants time or a discount, and you need an enforceable deal, or limitation is running out and the clock must stop.
What you get
- An acknowledgment that restarts the limitation period
- Instalment terms with full-acceleration on default
- Added security or guarantors where negotiable
Scope of work
- Enforceable instalment plans
- Acknowledgment & restructuring agreements
- Additional security
Documents to prepare
- Proof of debt and the current balance
- The debtor's proposal, if any
- What you know of the debtor's assets
The above is a starting point, actual requirements depend on your facts. Incomplete is fine; we will list what else is needed.