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Debt Management

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Clarity matters, the will to succeed is better but the will to prepare is vital.

OUR SPECIALITIES

  • Debt Recovery

  • Debt Cancellation

  • Debt Reduction

  • Refinancing/Restructuring

  • Debt Buying

Debt Recovery

At CPJ, we understand the urgency of recovering a debt as quickly as possible, and as such, we are committed to providing an efficient and cost effective debt recovery service regardless of the size of the debt. We can tailor the debt recovery strategy to your individual needs and the nature of the debt to ensure the best outcome is reached. We ensure you are kept informed as to the progress of the debt recovery action. We can also provide you with our advice on how to avoid disputes arising in the future and how to protect yourself in the event a dispute does arise.

Our firm has a “no cure, no pay” policy, this means that unless we recover fund for our client, we do not get paid. We also recognize the importance of client/customer relationships and retention, and as such we employ a non-threatening approach in the collection process where necessary.

In addition to our expertise in area of debt recovery, free legal assistance is included in our packaged service as our legal correspondences and proceedings help to guarantee our effectiveness of collections as we endeavour to limit any possibility of bad debts.

Our debt recovery team is supported by commercial litigation specialists, who handle disputed or complex claims professionally and efficiently and will also advise more thoroughly on business debt recovery, commercial debts and prospects of recovery.

Debt Cancellation

Cancellation of debt refers to the releasing or forgiving of a debt in whole or part. Cancellation of debt may be granted to individuals or businesses depending on the circumstances. Cancellation of outstanding debt may be a shrewd move for a creditor, especially in tough economic times as well as other times due to business realities.

In view of this, we advise creditors with the appropriate authority to offer an optional debt cancellation agreement to their debtors. In simple terms the agreement involves; charging a fee for the debt relief option; amending client’s lending agreement to provide defined benefits when certain life events occur that typically cause financial trouble for people; and cancelling the debt or monthly payment obligation upon the certain life events occurring which may include losing a job, being hospitalized, serving our country thru a military deployment, suffering a disability or critical injury, having purchased merchandise that was subsequently stolen or damaged, and much more.

Our debt cancellation service offers one or more of the following; negotiating a new term of agreement that cancels the debt or monthly payments or defers payment on existing debt.

Debt Reduction

A debt reduction service like ours is focused on negotiating a lump-sum settlement with a client’s creditors. Often times, individuals in this situation choose to pursue debt negotiation in order to reduce the amount of money that they owe to their creditors. It may allow them to avoid going into bankruptcy and facing foreclosure. This process can be challenging, and some creditors do not make it easy for debtors to find a plan that works for them.

We employ this veritable tool because our experience in this area has shown that creditors are open to entering into debt settlements because it allows them to recoup a guaranteed amount of the debt in a shorter period of time. It is logical that if the debtor files for bankruptcy, the creditor may not receive any debt repayment, particularly if the debt is unsecured. In other words, debt reduction turns a potentially uncollectable debt into a payment.

At CPJ, our team of bankruptcy and insolvency lawyers have helped our clients to explore their options. We have obtained positive results for our clients through lump sum settlements. In this process, the creditors agree to different loan repayment terms.

Refinancing/Restructuring

A debt reduction service like ours is focused on negotiating a lump-sum settlement with a client’s creditors. Often times, individuals in this situation choose to pursue debt negotiation in order to reduce the amount of money that they owe to their creditors. It may allow them to avoid going into bankruptcy and facing foreclosure. This process can be challenging, and some creditors do not make it easy for debtors to find a plan that works for them.

We employ this veritable tool because our experience in this area has shown that creditors are open to entering into debt settlements because it allows them to recoup a guaranteed amount of the debt in a shorter period of time. It is logical that if the debtor files for bankruptcy, the creditor may not receive any debt repayment, particularly if the debt is unsecured. In other words, debt reduction turns a potentially uncollectable debt into a payment.

At CPJ, our team of bankruptcy and insolvency lawyers have helped our clients to explore their options. We have obtained positive results for our clients through lump sum settlements. In this process, the creditors agree to different loan repayment terms.

Debt Buying

Debt Buying is an integral part in the dynamic relationship between credit and collection as they provide an immediate solution for creditors’ past due obligations whether defaulting debts, unsecured, or secured by movable goods or real estate. CPJ offers debt purchase of portfolios of various compositions using our skilled and dedicated resource to support our clients. In addition, we offer one-off as well as revolving purchases of clients’ portfolios of receivables with a negative payment behaviour that may arise in the future.

Our services in this practice area covers the following types of debt, which include but are not limited to: unpaid goods and services, rent arrears, unsecured loan debts, default on loans including bridging loans, trading debts, small claims court debts, insolvency debts.

CPJ’s Debt buying services delivers unrivalled benefits to the creditor which includes: Improved cash flow, Speedy resolution of client’s problem, Removal of bad debts from client’s balance sheet, Reduction of time and expense in the recovery process, Elimination of the risk of paying exorbitant professional fees to lawyers without assurance of success, avoiding any traces of threat where there may be an ongoing business or personal relationship with the debtor.