What Property Traces of the Debtor Are Available to Creditors in Turkey? What Are the Common Ways of Investigating Property?
Traces and investigation are crucial for the creditor on both the amicable and legal stage in Turkey.
In order to make a successful collection, the creditor should find out about the debtor’s assets and make his decision regarding how to proceed.
Most of the debt collectors offer internal and external trace options to creditors in the amicable stage.
Internal trace is a type of trace which the collection office does by themselves and try to find the credentials of the debtor and both movable and immovable assets registered under the name of the debtor.
In case the internal trace is unsuccessful, the collection office may offer to the creditor to make an external trace.
External trace is a type of trace which the collection office uses its external network and information on several institutions – such as trade registries, banks, land registry and tax offices – in order to detect the debtor’s assets.
In the event of the case is on the legal stage, the creditor may initiate a trace by the execution office, when the creditor gets the right to seize the assets of the debtor.
Contributor: Emre Aslan
Position/Title: SENIOR LAWYER
For more posts contributed by Emre Aslan and ANTROYA DEBT COLLECTION & LAW OFFICE, please click here.
The Q&A Global is a special column run by CJO Global, and serves as a knowledge-sharing platform to facilitate peer learning and networking, and to provide the international business community with a global landscape of this industry. This post is a contribution from Antroya Debt Collection & Law Office. Antroya, headquartered in Istanbul, Turkey, has been working in the field of debt recovery dating back to 2005. They work with the world’s leading financial services companies and groups, who have the global largest network in International Receivables, and they are a member of several world's leading debt recovery networks.