Debt Recovery Agency in Egypt

Debt recovery agency

Are you looking for a debt recovery agency in Egypt?

Sadany& Khalifa Law Firm is one of the most experienced Agencies in carrying out debt recovery not only across Egypt but rather worldwide.

It is well known that the debts pose obstacles for running any business smoothly as the debts are usually causing problems and shortage in cash flow; therefore, the debtors are always looking for a trusted law firm to help them in collecting their debts in the nearest time with the lowest cost.

Debt collection agency

 Based on this fact, Sadany & Khalifa provides the service of debt recovery to its esteemed clients to assist them in collecting the outstanding monies.

In Egypt, few agencies are working in debt recovery. Sadany & Khalifa law firm is one out of the fewest firms who are acting as a “Collector” for the clients (i.e. Creditors”) and it considers the debt recovery is one of the most complicated and costly tasks that face the businesses and individuals as well.

Collection company

In the upcoming lines, we will highlight the definition of debts recovery, its types, the process of doing so and fees, as follows:

Debt recovery meaning

Debt Recovery or Debt collection is the process of claiming the due amounts from the debtors whether the latter are individuals or Companies. Normally, the firm that specializes in debt recovery is called a debt collection agency, debt collection law firm or debt collector.

Most debt collection agencies operate as agents of creditors and collect debts for a fixed fee or a percentage of the total collected amount.

Kinds of debts

There are many kinds of debts that can be recovered and collected by the attorney; the most common debts are: Personal debts, including but not limited to (Personal Loan debts, car loan debts and insurance), and Corporate and business debts, including (Commercial debts "commercial collection corp", Insolvency, Insurance, Credit card, Maritime including debt recovery in shipping, Invoices, export and import transactions).

Process of Debt Recovery

Sadany & Khalifa is trying its best efforts to ensure that your time and money do not go to waste and that your debts are recovered—quickly, amicably, and professionally, so that the firm is stepping two ways while the process of debt collection; the first is trying to settling it amicably and the second, in case the first fails, the firm seeks one of the dispute resolution mechanism as agreed in the governing contract concluded by and between the creditor and debtor, as follows:
 

Debt collection method

Amicable settlement (“Negotiation”)

Sadany & Khalifa seeks an amicable settlement at first by holding negotiations, sending letters, making a phone call, and convening meetings with the debtors attempting to settle the debts amicably with the debtor(s).

In such case, the firm makes its own investigation on the debtor by checking its financial capability, reputation in the market, and its commercial transactions history. Also, the firm uses the contact information provided by the client (“Creditor”).

Sadany & Khalifa has great successful experience in such method; as it brings positive results and settlements for the outstanding monies.

Dispute settlement (“Litigation/Arbitration”)

In case the amicable settlement fails, Sadany & Khalifa works on studying the creditor’ papers (contracts, previous dealings…etc.) and decide to settle down the debt by recourse to court  or arbitration as agreed  in the contract governing the business relationship between the creditor and debtor, as follows:

(1) Litigation: Sadany & Khalifa should file a lawsuit against the debtor before the competent court and submit all the required documents that prove the creditor’s claim, in case that the parties to the contract have agreed to resolve their disputes at the court.

(2) Arbitration: Sadany & Khalifa can handle the arbitration process from its beginning till the issuance of the arbitral award and enforcing it as well. 

It is worth mention that the firm’s strategy is to use litigation or arbitration as a way for pushing the debtor to back again to the negotiation table in order to collect the debt in the shortest time with the lowest cost!