The service for collecting credit from liquidations or bankruptcies provided by Invenium has the objective of accelerating collections for bankruptcy proceedings, both from Italian as well as foreign debtors.

ADVANTAGES

The objective of the credit collection service for bankruptcy proceedings is to support the receiver, liquidator or special commissioner, freeing him from the burden of collecting the credit portfolio of the proceedings.
Bankruptcy proceedings (bankruptcies, receiverships, agreement among creditors, whether approved or within restructuring agreements pursuant to Art. 182 bis of the Bankruptcy Law) incur costs only on results and pay Invenium only upon collection
Invenium appoints a pool of professionals and collectors (Managers) who support the Receiver in accounting reconciliation and liquidation of assets, providing an assessment of the potential collection value and necessary timing.

CREDIT COLLECTION PROCEDURE FOR BANKRUPTCY PROCEEDINGS

1) Documentary due diligence
The Invenium pool supports the proceedings with an initial due diligence of the of the credit portfolio in order to “ascertain” the actual balance and the estimated realizable value.

2) Verification of validity and solvency of debtors
Thanks to our bankruptcy proceedings credit collection service, a specialised contact (Manager) will liaise with the legal advisors and local collectors, directing the asset realization activities.

2) Exploratory contact
Contact with the administrative department of the debtor to identify the internal contact for liquidation.

3) Reconciliation of receivables
Consists of comparing the accounting documentation of the customer with that of the debtor and of verification and elimination of any differences, balancing the respective entries. Among other things, the respective statements of account are verified, identifying even partial payments not accounted and reconciling any discrepancies found.

4) Liquidation of receivables
This is the phase aimed at verifying the formal and material correctness of the customer’s receivable, resulting from compliance of the services provided and invoiced with that requested and ordered, as well as the accounting and administrative correctness of the invoices themselves.

5) Reminders
Periodic interventions with the authorities in order to monitor the progress of payment of each invoice.

  • Sending of a written out-of-court reminder
  • Sending of a written legal reminder
  • Telephone contacts (approx. 10)
  • Direct meetings (approx. 3 meetings).
  • Documentary due diligence
  • Verification of validity and solvency of debtors

  • Exploratory contact
  • Reconciliation of receivables
  • Liquidation of receivables

DEBT COLLECTION AGENCY IN ITALY AND ABROAD: CHOOSING INVENIUM

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