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Enforcement Law, Debt Collection And The Way They Work
Enforcement Law is an alternative legal remedy that allows collection of money receivables without requiring a court decision.
On the other hand, Dept Collection is a special method of legal remedy that allows the creditor to be charged in a short way from the point of view of borrowers who do not pay their debt.
If the creditor’s claim for receivables is not objected, the debtor’s movable and immovable assets can be met by confiscation by state force. The way the enforcement directorates perform the process by force with legal authority makes the enforcement law more functional.
This process also allows the creditor to get his / her receivables in a shorter time than the trial process. Enforcement law is used in Turkey as an alternative way against the path of litigation for the creditor to get their receivables due to these criteria of functionality and duration.
Debt Collection Process
If the creditor wants to use the enforcement path to obtain his / her receivables, he / she must initiate an enforcement follow-up at the competent and authorized Enforcement Directorate on this issue.
Enforcement follow-up begins with a follow-up request to be given to the enforcement director by the creditor. A payment order is sent to the borrower upon a follow-up request. The debtor objects or does not object to the payment order within the specified period.
If the payment order was challenged by the debtor, this means that the debtor does not accept the debt that constitutes the subject of follow-up. It is at this point that the state’s hard-to-use power comes into play to collect what you will get. The debtor’s goods and receivables, as well as rights and receivables from third parties, can be collected by foreclosure.
Types of Debt Collection
Follow-up without an order: The way of execution that creditors who do not have a court order or who do not apply for an order of execution, despite the fact that they have it, apply to obtain their receivables. The ability to apply for an enforcement path without the need for any documents is an arrangement in favor of the creditor. This is one of the main factors that increase the applicability of enforcement law. The appeal period for the payment order is arranged as 7 days in follow-up without notice.
Follow-up with an order: It is a type of follow-up based on decisions made as a result of the trial of the courts. For receivables whose subject matter is something other than money, the creditor must apply for the declared execution method. It is possible that the execution process in Turkey will be subject to execution follow-up with the definition and enforcement of foreign court decisions related to the performance of a work.
Follow-up for exchange notes: In this case, the creditor must have a bill of exchange in his hand. Check, bond, policy, etc. it is accepted as a foreign exchange ticker. Although the tracking path specific to exchange notes is one of the types of unannounced tracking, the procedure for appealing the debtor’s appeal is more difficult, but easier to prove from the point of view of the creditor.