Recovery of Debtors’ Debts

Recovery of debts

Recovery of debts and delayed payments as well as control over them is performed in close cooperation with you by using complete information about your previous cooperation with the debtor. Our experience and our skilful debt recovery specialists ensure fast and efficient debt recovery and they follow the requirements laid down in the regulatory provisions when communicating with your customer. In such a way, we retain the existing cooperation between you and your customer. Our encashment services ensure faster debt repayment. 

We have access to all officially available channels of information in order to obtain maximum amount of information about the debtor and to analyse their activity as well as to apply the most efficient method for debt recovery. Possible records in our debt history database Risk.lv will serve as additional motivation for the debtor to settle their liabilities in possibly shortest period of time.

In case it is not possible to achieve voluntary repayment of the debt during extrajudicial recovery of debt, we inform about further recovery activities, for example, the use of judicial proceedings, initiation of insolvency proceedings or any other appropriate activities. 

LLC “PAUS KONSULTS” can provide the aforementioned and other legal services. To find out more about the services provided by us, please send email to paus@paus.lv and we will contact you. 

Stamp service

To avoid a possibility that customers delay payments, please use in your invoices well-known PAUS KONSULTS’s warning stamp. Informative stamp reduces the number of delayed payments. It will inform your customer that in case of delay in the payment of the invoice, the debt will be recovered in cooperation with LLC “PAUS KONSULTS”. In case the payment has already been delayed, the warning stamp will foster sooner settlement of default payments. It is also possible to choose both stamps at the same time.

Reminding service

Entrust us performing the remainder procedures and we will start warning the customer immediately after detecting delay in payment which will considerably expedite the payment of the delayed invoice.
We will send reminding letters and text messages as well as make reminding telephone calls and ensure control over the payments made. 
From the cost point of view, this is an efficient way how to optimise company resources and to prevent the reduction of the cash flow.

Acquisition of cession portfolios

We offer a possibility to agree on the purchase of debts – cession of the right to claim. Cession ensures for you as a creditor a possibility to recover the financial resources quickly by avoiding from lengthy and expensive recovery proceedings; it will also remove debtor’s debts from your balance sheet and permit to invest financial resources in the development of the principal activity of your company.
We will analyse the list of debtors indicated by you (debt portfolio) and submit a proposal on the fee of debt purchasing. After concluding the cession agreement, all documents confirming liabilities are handed over to us as a cessionary (purchaser of debts). The fact of cession is notified to your debtors and debt recovery procedure is initiated after that.

Database Risk.lv

Risk.lv is a debt history database which permits you to make swift and convenient the checks regarding the ability of natural and legal persons to fulfil their payment liabilities and provides information about the persons who have not timely and/or duly fulfilled their payment liabilities. Currently, the database contains information about the late payment cases handed over by all largest credit institutions in Latvia, non-bank creditors, various service providers (telecommunications, utility, medical, parking and other sector service providers).
Information in the database is renewed on daily basis. You can become a user of debt history database Risk.lv after concluding a cooperation agreement with us and receiving information necessary for authorisation. 
Additionally, we offer “tracing” service – a possibility to trace the direction of the proceedings of debt recovery cases handed over to us by using access to database Risk.lv. 
You can learn more about our debt history database and tracing possibilities in Risk.lv.

Legal services 

LLC “PAUS KONSULTS” offers a wide range of legal services to its cooperation partners. We offer individual and professional approach, and we assist in finding solution and provide consultations in debt recovery related matters, and we do a lot more. The services are provided according to the specifics of the sector of the cooperation partner operation taking into account their wishes and the requirements of the applicable regulatory provisions. When necessary, we prepare various contracts, applications, submissions, procedural documents and other documents.

Representation in judicial proceedings

If it has not been possible to reach the agreement with the debtor regarding voluntary fulfilment of debt liabilities in the course of extrajudicial debt recovery proceedings, we provide recommendations to the cooperation partners regarding further activities to be performed in connection with the specific encashment case. We additionally provide recommendations regarding each specific encashment case and possible judicial proceedings taking into account the communication with the debtor during the recovery proceedings, the debtor’s attitude towards the debt liabilities, and etc. Apart from that, on the basis of mutual agreement of the parties, we also represent interests of the parties in all court institutions.
When assessing if it is worth to adjudicate the case, we take into account the documents justifying the debt, the amount of the debt, information available about the debtor (for example, the work place, income, movable and immovable property belonging to the debtor, etc.), as well as ant other information. 
We offer to prepare documents, to submit them to court and to represent cooperation partner in any judicial proceedings (within the framework of warning procedures, small amount claims, general proceedings and arbitration proceedings). We also prepare and send documents to sworn bailiffs for the enforcement of rulings. We also perform the supervision and control of execution files and prepare reports on the results achieved. 


Preparation of creditor claims/complaints and their representation in insolvency proceedings and inheritance cases

Additionally, we also provide information about the fact of debtor’s death or insolvency proceedings proclaimed on the basis of information available in public registers. In case information about the debtor’s inheritance has been announced or insolvency proceedings has been proclaimed, cooperation partners have a chance to receive information in due time and submit their claim for entirety of property of an estate (in inheritance cases) creditor’s claim (in cases of insolvency proceedings).  
On the basis of a separate agreement, we also offer a possibility on behalf of the cooperation partner to submit creditor’s claims in cases of insolvency proceedings and creditor’s claims in inheritance cases.

Monitoring of natural and legal persons

We develop portfolios for the customers of our cooperation partners (legal and natural persons) and perform supervision and monitoring of the changes in them. 

Every day, the data administrator of LLC “PAUS KONSULTS” performs monitoring of the debtor (legal persons) portfolio handed over to them. It includes checks on proclaiming insolvency, suspension of the operation of managing institution, liquidation of the company, annulation of VAT certificate, change in the officials, registration of new shareholders, changes in the equity capital of the company, and other information that is available in public registers. If it is detected in the result of the monitoring performed that the insolvency of the company has been proclaimed, the operation of managing institution is suspended, the company is being liquidated – this information shall be immediately notified to the contact person of the cooperation partner. Such process is offered to be able to submit the creditor’s claim in due time. In addition to the aforementioned, we also perform the checks of natural persons in public registers in order to find out if the insolvency proceedings has not been proclaimed for this person or if there is no information about the death of this person. 

To performing the monitoring of legal persons, we cooperate with the largest and oldest multi-profile information company in the world Dun & Bradstreet (in Latvia – SIA Datu Serviss) and perform checks by using SIA Lursoft database. Apart from that, we also perform checks of legal and natural persons in the Insolvency Register, official magazine “Latvijas Vēstnesis” as well as in order registers and sources of information.