Turkey is a Eurasian country parts of which are located in Asia and in Europe as well. The Turkish Enforcement Law refers to the Swiss Enforcement Law which means that the decisions taken by the Federal Court of Switzerland will play a significant part in the Turkish precedent. The process of debt collection in turkey is unique and follows the Turkish Law. There is actually no particular provision stating the percentage of deposit in Turkey. However, the Turkish court has determined to ask for a 15% disputed amount for the security deposit money. The debt collection turkish lawyer can help to resolve these matters.
There are some countries like Russia, Chile, Peru, Egypt, Finland, Syria, and Libya that exempt from the security deposit provision of the Turkish Private State Law. These countries are not liable to pay any security deposit to the Turkish law and government for any debt collection in turkey. There are some ways through which the security deposit amount can be remitted. An experienced debt collection turkish lawyer will be able to enlighten such ways like remitting the money in foreign currency in the Turkish central bank, pledging on the real state, getting a guarantee letter from the bank itself or by the Turkish notary etc.
The security deposit money is meant to provide protection to the debtor from any damages caused by the foreign entities throughout the enforcement. At the end of the enforcement procedure, the security deposit money has to be refunded by the Turkish court to the creditor. The process of debt collection in turkey has two different ways. Firstly the action of debt is a way to apply interim measure upon the debtor. A professional debt collection turkish lawyer can help to secure the creditor’s debt by trying to take over the debtor’s assets and this can be done by focusing on the risk of the debt.
On the other hand, there is the debt enforcement procedure in which the creditor can seek help from the Debt Recovery Government offices in Turkey. Based on the creditor’s application, the organization will then send a payment order to the debtor. If there is no objection from the debtor’s side against this order within 7days, then it will be taken as his acceptance of the debt and thus the creditor will be entitled to go for further proceedings for his debt recovery. Sometimes the debtor may raise objection against the alleged debt. In that case, the creditor has to go for the action of debt process.
This websites revolves around the interesting alley of debt collection in turkey. You can get lots of information about various debt collection turkish lawyer at this site.