{"id":3255,"date":"2022-10-31T15:56:37","date_gmt":"2022-10-31T14:56:37","guid":{"rendered":"https:\/\/cascioferraro.com\/?page_id=3255"},"modified":"2023-02-28T23:37:22","modified_gmt":"2023-02-28T22:37:22","slug":"credit-recovery","status":"publish","type":"page","link":"https:\/\/cascioferraro.com\/en\/credit-recovery\/","title":{"rendered":"Credit Recovery"},"content":{"rendered":"\t\t
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CREDIT RECOVERY<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Problems relating to delays in payment<\/span><\/h2>

In 2021, the percentage of companies that paid their suppliers on time was only 36.5% of the total, a slight improvement compared to 2020 (+2.2%). The figure appears in a study<\/a><\/span> made by Cribis, a company specializing in business information.\u00a0 The survey also highlighted the fact that companies with payment delays of more than thirty days grew by 21.9% in 2020 compared to 2019 (basically due to Covid-19 effects of bad debts), reaching an overall rate of 12.8% of the total. Settlement of invoices<\/a><\/span> in Italy is notably worse than the European average regarding punctuality, by nearly 8%, and is worse by more than 3% as regards more serious delays. This situation put companies in Italy in a more difficult position than their EU competitors and counterparts, especially during the Pandemic, and this weaker position is due to a chronic lack of liquidity.<\/p>

The goal of debt recovery is to collect in full any sums due for work done. This may seem like a truism, but in the real world it is anything but that. The flawless execution of legal formalities may not lead to the expected outcome, since the debtor may have managed to hide or divert resources reachable by legal recovery efforts. As many Italian businesses know, without a well-done preliminary due diligence regarding the existence of the assets on which to realize the credit recovery, and without a strategy to move towards attaching such assets, the outcome of the effort can ultimately fail and involve additional losses. In fact, not only are the amounts due not paid, but the creditor also has to bear the costs relating to the legal proceedings which in the end have not brought him any benefits.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Recovery strategies<\/span><\/h2>

\u00a0<\/p>

The rigorous steps provided for in the Italian Civil Code require that such recovery efforts be based on a good understanding of the particular conditions in which the debtor finds himself, integrated with the actions useful for carrying out the essential goal of the Client, the recovery of the monies due. The Law Firm of Cascio & Ferraro has acquired decades of experience in all the pertinent areas which contribute to a success credit recovery action.\u00a0 Before even beginning the routine legal activities (such as giving notice to the debtor of its intent to enforce its rights and seize assets, etc., etc.), the Firm performs due diligence to catalogue debtor assets potentially available for legal seizure, in order to enforce payment. Such due diligence extends, if necessary, to consideration of potentially taking revocatory actions in order to regain possession of assets that the debtor has improperly transferred to third parties, with the aim of removing them from the purview of other creditors.\u00a0 The Firm’s experts also examine applicable company accounts, to identify the existence of debts that may be due, or to bring civil liability actions against directors or corporate officers. The investigation identifies the resources that can be used to cover any unpaid amounts. Indeed, this preliminary stage must be followed by the actual recovery of the amounts due, and effectiveness in the resolution of such efforts is the Firm\u2019s distinctive added value. The experience nurtured through the years has made it possible for us to obtain the necessary skills to carry out in the best way possible all compensation and credit recovery efforts.<\/p>

By taking these precautions and this preparation – in the worst-case scenario – the client is spared the further loss of investing time and resources in a futile action. In other situations, the appropriate paths are found to recover the amount due, either in full or to the maximum amount possible.<\/p>

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Efficient countrywide coverage<\/span><\/h2>

Moreover, the Law Firm of Cascio & Ferraro does not limit its work to the Courts of Milan; due to the decades of experience gained by the firm\u2019s founders, the firm has close working relations with a network of trusted colleagues around the country, thus ensuring protection of client interests all throughout Italy.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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