A company’s credit
management is one of the essential elements of a successful commercial
activity. It is therefore crucial for creditors to obtain the right advice at
the right time in order to protect debts due to them.
The number of court
cases dealing with debt collection has diminished drastically over the years as
the use of judicial letters proved to be incredibly useful in the saving of
both time and money. In fact, when the debt is decisive and clear, the creditor
may make claims for amounts not exceeding €23,300 as per Article 166A of the
Code of Organisation and Civil Procedure. Otherwise, Article 253 allows
judicial letters to be filed for unlimited outstanding debts. Court cases
before the Superior Courts may be instituted where the amounts due vary and are
not liquidated.
At Mifsud & Mifsud
Advocates we have the necessary expertise to assist companies with their
individual needs in relation to debt collection. The firm can assist from
pre-litigation stage up to the execution of a judgment. Moreover, the firm is
affiliated to a number of international debt collection companies through which
it can assist local companies in chasing debts on an international level.