In any case, before embarking on a legal (court case resulting in the incurring of charges, costs, and time), in the majority of cases (see, for example, the Credit pool), you try to resolve the problem by “good-natured” getting a fulfillment, even partial, within a reasonable time
Already at this stage “out of court”, the Institutions and financial companies (from big ones such as Unicredit, Agos, Compass, etc.) shall use the services of debt collection company or a law Firm (best to choose those with local presence, which is not a problem for large cities such as Milan or Rome), who shall attempt to agree a repayment plan with the debtor through dunning letters, telephone and, in some cases, direct contacts through officers.
The minimum requirements of the letter are: -the date of the letter, -because of the credit (e.g. contract, invoice etc.), - date on which is built the credit-the total amount of the credit, -reasonable time to perform (usually fifteen days). As is the case for the recovery of credits from work, if the letter is signed by a law firm, the debtor (even in the case of the employer) will be more likely to take the content into consideration. In the case in which the recovery via “good-natured” does not lead to any result it will be possible to perform assessments of economic capital to evaluate the opportunity to start the court action. In the same way, if you come to an agreement and the debtor makes available to the payment - immediate or deferred - the law Firm or the Recovery Company will do the necessary in order to the creditor and to ensure the respect of the agreements (e.g. in the case in which it is granted more time, the agreement with the debtor might consist in the provision of more guarantees, such as: credit titles, liens, mortgages, etc.) also in this case, it will be possible to audit income statement and balance sheet to verify the real economic conditions of the debtor. Generally, legal action is taken after verification of the successful completion of the forced recovery of the credit, i.e. only when, as a result of the assessments of economic capital are made during the out-of-court shows a sufficient capital to cover the outstanding credit (the the possession of adequate assets). The lack of adequate assets, usually, makes it “inconvenient” to start the court action, because in the case of a negative outcome will be for the creditor to bear the legal fees. Only in the case of loans of any amount it may be useful to proceed with the legal action, only for the purpose of detracting outstanding debts (this end is pursued through the transfer of credit). Action for injunction. Precept on Securities Attachment of property - action for injunction If the creditor is in possession of documentary evidence which attests to its right, our legal system provides for a summary procedure that allows to obtain, in a short time, an executive title. To start this procedure is necessary for the credit of: -certain (existing or to be proved by the following documents: contract, invoices, accompanying, extract authentic the VAT register etc.) the liquid, of course, to the amount) payable (not subject to term or condition). In case you experience such conditions or do not already have an executive title (which allows it to act immediately with the act of the precept), it will be necessary to act in the ordinary way (with summons) always in order to obtain an enforceable title, but with a considerable extension of time. Precept on the securities If the creditor is already in possession of enforceable instruments (e.g. cheques or bills of exchange protested) will be able to act immediately to obtain enforcement over the assets of the debtor in the other case, the compulsory execution can be effected only by virtue of the enforcement orders made by court or other action. With the act of obligation for the creditor to intimate to the debtor to fulfil the obligation resulting from the enforcement title, within a period, not less than there days In the event of non-payment within the agreed term, the creditor has the may ask the bailiff for the seizure of all assets of the debtor until full satisfaction of his own credit. The attachment has the function to bind the goods subject to forced execution, and consists of an injunction, the bailiff is on the debtor to refrain from any act intended to subtract from the guarantee of the credit the goods the subject of the expropriation and the fruits of them. With the attachment, then, is the beginning of the executive process directed to steal by force the debtor certain goods (liable to), and making part of its wealth and to convert them into cash, in order to fully satisfy the creditor. Seizure The seizure is a precautionary measure to ensure the credit, when there is danger or well-founded fear of losing the warranty of the same (e.g. when it is assumed that the debtor may be able to “hide” assets subject to seizure, taking advantage of the delays of ordinary proceedings). Therefore, even before starting the legal action of debt recovery, it is possible to bind the adequate assets of the debtor, then convert, then (with the obtaining of the judgment of condemnation the executive), the precautionary seizure of the seizure. The conditions for the granting of the attachment are: -the reasonable appearance of the right (i.e, the existence of the credit) -the hazard, or a well-founded fear of losing the warranty of the credit. Failure In general, in the case in which the debtor is a business entrepreneur and are in a state of insolvency, it is possible to activate the legal proceedings of bankruptcy. The procedure is designed to achieve by force, and equally in the rights of creditors through the liquidation of the assets in the estate of the debtor. As to the two requirements, the quality of the entrepreneur implies that they are excluded from bankruptcy proceedings: small entrepreneurs and agricultural entrepreneurs, public bodies (for which the compulsory administrative liquidation), and large companies in crisis (for which the extraordinary administration). Finally, the state of insolvency means that the debtor is no longer able to meet their obligations, and can be tested e.g. through a series of repeated protests on bills of exchange, a verbal of seizure, with a negative result (e.g. for lack of adequate assets), etc, The important thing is that the borrower can prove his repayment capacity through a repayment plan. With the declaratory judgment of bankruptcy, the debtor is deprived of his assets (with some exceptions: cheques to the character of the food, goods and rights are strictly personal, etc.) that are under the administration of the bankruptcy trustee, who draws up the inventory and provides for their liquidation.