The creditors recourse to the assets of the debtor when the debtor does not perform his obligation. The elements of the assets of the debtor constitute a sort of guarantee for the creditors. The debtor is liable for his obligation with all of his goods, rights and claims as a rule. However some goods of [...]
Summary Procedures for Debt Collection in Turkey The Code of Civil Execution and Bankruptcy of 1932 provides also a summary procedure for collection of liquidated debts. A liquidated debt is a debt, the amount of which has been determined by the parties or by operation of law. Liquidated debts may be collected through a speedy [...]
Debt Collection in Turkey and The Collection Process Learn about Turkey’s unique debt collection process, its Turkey’s Debt Collection Office system, how to collect a debt owed to you in Turkey and what to do if a Debt Collection Order is filed against you... The Turkish legal system provides a framework for creditors to collect [...]
Debt Recovery In Turkey Prior to initiating legal action As in any other system, the best way to begin the debt collection process is to contact the debtor by phone or by sending a demand letter, or a reminder. If the debtor has not paid his or her debt in time a letter written by [...]
Attachment of Debtor’s Assets in Turkey When it comes to enforcement proceedings, Turkish law distinguishes between non-monetary (e.g., specific performance) and monetary claims (i.e, payment of an amount of money). Enforcement of monetary claims is regulated by the Turkish Debt Collection and Bankruptcy Act. The same holds true for interim measures aiming at securing the [...]
