Debt Collection/Recovery in Turkey

Please note that this article gives only brief outline of the debt collection actions in Turkey. As debt collection lawyers, we compose the debt collection file and submit it to the Turkish debt collection agency. After submitting the action to the debt collection agency, the enforcement office sends a payment order to the debtor. Please note that the payment order must be severed to the debtor. İf the debtor cannot be found on the address that the creditor provided to us, we make the necessary search to find the debtor’s address. The debtor who has been served with the payment order has 7 days to either object the action/debt or to pay the payment order. İf the debtor objects the action, the collection process stops. Then the creditor must file a court case called “the annulment of the objection case” to lift the objection. İn practice, mostly the debtor objects the action/debt, to gain time. However, the court will rule that the debtor who unjustly objected the debt collection action pays %20 of the debt amount which is called “unjustified objection fee” at the end of the annulment of the objection case. İf the debtor does not object the action/debt in 7 days and does not pay the payment order, the debt collection action is finalized. Upon this, we can make the necessary search to locate the assets of debtor and get it issued the confiscation order on the assets and bank accounts. İf there is need to liquidate the debtor’s assets, the liquidation of the assets process must be follow which we handle with experience

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