But even if at the moment, the debtor is insolvent (do a solvency analysis), this does not mean that the debt can not be returned. Need to find out the causes of insolvency on the analysis of pay and calculate the possible ways to change this situation.

First action: Identify the target.

It may be different in each case. For example, you made a loan to a legal entity, either the debtor has previously worked with you for a long time. All the arrangements for payment of your services performed on time. And suddenly, did not pay the last deal. Obviously, you do not just want to make a repayment of a debt, but also to maintain a business relationship.

Second action: Legal training.

Learn the law and the legal framework appropriate for your current situation. Take time to study the laws, consult with a professional lawyer, if any questions are not clear to you. Before contacting an attorney to repay the debt, collect copies of original documents of the transaction: the contract, invoices, statements or invoices with the signature stamp of your customer, with the date of receipt, confirming that the product or service have been obtained from you.

Third action: A more detailed examination of information about the debtor.

Gather information about your debtor, his business dealings, partners, customers, founders, the possibility of repayment. It is possible that your debtor has other creditors, which has not been made debt repayment. All actions are necessary to conduct carefully and confidentially.

And now you have the debtor. And your goal is threefold: to refund the debt, to minimize the time and financial cost of returning the money, and maybe keep the prospect of further mutually beneficial relationship with the debtor. But without the necessary preparatory work, none of these objectives will be achieved because a realistic assessment of the necessary time and cost can be only after a detailed study of the situation. There is a great number of solutions of such situations. When you will spend all the preparatory work for the return of the debt, make an assessment of your debtor’s ability to pay, in your hands will meet a lot of advantages of choosing the style of the negotiation process and its duration.