With increased international trade, there is also a greater risk of financial dispute and fraudulent activity. International individuals and businesses engaging in trade or business with Turkish entities run into difficulties in collecting outstanding debts. CCS Law can offer expert services to overcome the complexity associated with debt recovery and fraudulent activity, hence protecting your rights and efficiency in collections.
Debt Collection in Turkey
Understanding Debt Collection in Turkey
Debt collection in Turkey is a variety of legal proceedings against the debtor for money recovery. In some particular fraudulent cases or in cases committed by deceit, those procedures may be pursued through civil and criminal channels. Below is a step-by-step guide on how debt collection in Turkey is applied, specifically for foreign entities:
Civil Debt Collection Procedures
1. Initial Debt Collection
A claim to be brought before an enforcement office will require the creditor to make an application to the respective office in Turkey. The application to an office should involve:
A detailed claim petition
Documentation of indebtedness (contracts, invoices, promissory notes, etc.)
Information pertaining to the debtor, inclusive of identification and address particulars.
2. Enforcement Office Actions
When the application is received, the enforcement office will:
A payment order should be issued to the debtor, granting them a specified period, typically seven days, within which to settle the debt or contest the claim.
Should the debtor fail to appear or contest the debt, the enforcement office may proceed with seizing assets.
3. Seizure and Sale of Assets
If he does not pay or object to the demand within the time allowed for that, the enforcement office can start the seizure of the debtor's movable and immovable assets. These can be auctioned off to satisfy the debt.
4. Debtor's Objection
If the debtor objects, the process enters a judicial phase in which the validity of the debt is scrutinized. In that respect, the creditor must file a case in proving the legitimacy of the claim.
Criminal Proceedings against Fraud
Where the loan is acquired by fraud, criminal proceedings can serve as a very effective means of recovering debt. The frauds involved could be in the form of deceptively, false promise, or other forms of deceitful practices perpetrated by Turkish parties or persons.
1. Filing of Criminal Complaint
It is also reported that foreign creditors can file a criminal complaint to appropriate fraud against the debtor. The complaint will contain an elaboration of such fraudulent acts and communications, contracts, and financial records accordingly.
2. Criminal Investigation
The Turkish authorities investigate the fraud allegations. If evidence is sufficient, the case will be prosecuted in criminal court. Success in the prosecution may lead to the imposition of penalties on the debtor and, quite possibly, hasten the process of recovery of the debt.
3. Co-ordination of Civil and Criminal Cases
Such civil debt collection, if combined with criminal proceedings, will evidently increase the potential of debt recovery. The threat of a potential criminal case often motivates the debtor to pay their dues immediately in order to avoid such legal consequences.
CCS Law: Your Partner in Debt Collection and Fraud Resolution.
Within the scope of CCS Law, we create specific services for foreign entities needing debt collection and fraud resolution services in Turkey, including:
1. Legal Consultation and Strategy Development
We offer extensive legal consultations to understand the details of your case and develop a tailored approach in debt recovery and fraud settlement.
2. Documentation and Filing
The team will also help in the preparation and submission of all necessary documents about the proceeding, both civil and criminal, hence fulfilling the requirements of Turkish legality.
3. Representation in Court
CCS Law has good advocacy in courts all over Turkey and pleads civil debt collection cases, criminal fraud prosecutions on your behalf.
4. Bargaining and Settlement
We work towards negotiating favourable settlements with debtors by using the threat of criminal action to ensure timely payments.
5. Asset Tracing and Recovery
Thus, our solicitors can handle asset tracing and recovery, which means that your debt can be settled through all avenues.
Why choose CCS Law?
Expertise and Experience: CCS Law has vast experience in Turkish law and is well-equipped to handle complex cases of debt recovery and fraud.
Multilingual Support: We provide their services in various languages for proper communication and understanding of the requirements for foreign clients.
Comprehensive Solution: From initial consultation to final recovery, CCS Law provides end-to-end solutions for debt collection and fraud resolution.
Client-Centric Approach: We prioritise our clients’ needs, offering personalised service and regular updates throughout the legal process. Indeed, navigating through debt collection and fraud resolution in a foreign country can be quite an overwhelming task.
Navigating debt collection and fraud resolution in a foreign country can be daunting. However, with CCS Law by your side, you can confidently pursue your claims and recover what is rightfully yours. Our expertise in Turkish legal procedures and commitment to our clients ensures that your case is handled with the utmost professionalism and diligence.
For more information or to schedule a consultation, please contact us.
Disclaimer: This article is intended for informational purposes only and does not constitute legal advice.
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