Debt Recovery in Turkey: Know How Law Firms Can Help You in Recovery

Turkey is part of the Euro-Mediterranean partnership, with the European Union as its main export and import market. The large volume of trades between EU countries and Turkey continue to grow every year, resulting in many businesspersons and foreign investors dealing with Turkish companies. Any international partnership or business will have to face legal issues, like accounts receivable collection. However, it may be difficult for a foreign company to recover their money without proper legal assistance. This is where a Turkish law firm that specializes in debt recovery can help.

Law firms specializing in debt recovery in Turkey have the specialists and experts who are ready to assist foreign clients in their accounts receivable collection. The Execution and Bankruptcy Code is responsible for regulating the enforcement of debts in Turkey. Hence, debtors who avoid paying their dues may be forced to pay their debts or be fined by the court. Seasoned debt recovery lawyers are employed by the best and most accomplished law firms in Turkey to make it easier for you to overcome unfair debt collection practices and ensure that you can recover your money.

Working with the best law firms will make it easier to deal with fake debt collectors and business partners who may have tricked you into investing money in them. Under Turkish law, there are different ways to collect and recover the debt in Turkey. One of these is the action of debt, which is an alternative to debt enforcement procedure. This method of debt collection implements interim measures against the person or entities who owe you. However, you need the expertise of a debt recovery lawyer to convince the court and prove that a collection risk and interim measure are necessary. As per Turkish law, the interim measure lets the creditor secure the debt when he pledges over the assets of the debtor.

Debt enforcement proceeding is another debt recovery method in Turkey. It lets you apply at the Debt Recovery Governmental Office to follow your debt. The department will submit an order of payment to your debtor. If the debtor does not object within seven days, the law will consider him as the party who owes you. Hence, you can initiate the proceedings against him to recover your debt. If he objects, you need to file the action of debt prove that he owes you. A seasoned debt recovery law firm can help you either way.

Seyhan law office was established in 2001 by three qualified lawyers Hakan Uncuoglu, Mustafa Korkmaz and Bulent Seyhan to offer legal services for foreign citizens and companies in Turkey.