What Are the Common Reasons for Unsuccessful Debt Collection Attempts in Turkey?
The most common reason for an unsuccessful collection attempt is when the debtor has no asset at all, or transfers its assets to another third persons in order to avoid seizure.
As a result, even if creditor has the right to seize the assets of the debtor and sell them, the attempt would be unsuccessful since there is nothing to make collection of.
In that case, creditor may file a complaint to the court and demand cancellation of the transaction – the action of transferring the relevant asset to another third persons – so that the movable and / or immovable asset turns to the debtor’s ownership and creditor may have the chance to seize it.
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.