Debt Recovery
A structured route from reviewing your documents to negotiating payment and monitoring settlement.
Learn moreSettlement Negotiation
We negotiate workable payment terms and document the settlement, instalments and consequences of default.
Creditor-Side Settlement Support
This is a creditor-side service for businesses and individuals seeking recovery of overdue receivables, unpaid invoices or financial claims. Bayan does not provide debtor debt-relief, consolidation, lending or credit-repair services.
When this service applies
- The debtor accepts the debt but cannot pay it in one sum.
- Both sides want to close the matter without escalation.
- A previous informal arrangement has already broken down.
- You want the settlement documented before releasing any claim.
- A dispute is consuming more management time than the amount justifies.
What the service covers
- Negotiating settlement terms
- Structuring payment plans and rescheduling
- Drafting settlement agreements
- Drafting acknowledgements of debt
- Default and acceleration provisions
- Release and discharge wording
- Monitoring instalments against the agreed schedule
- Recording default where a settlement is breached
How the service works
- 01
Position assessment
We establish what is realistically recoverable and over what period.
- 02
Opening the negotiation
We approach the other party with a defined proposal.
- 03
Negotiation
Terms, timing and security are negotiated.
- 04
Documentation
The agreement is drafted, including default consequences.
- 05
Execution
The agreement is signed by both parties.
- 06
Monitoring
Instalments are tracked and any default is recorded promptly.
Documents usually required
- Documents establishing the underlying debt
- Statement of the current balance
- Any previous settlement or payment arrangement
- Correspondence on the proposed terms
- Details and authority of the signatory for each party
- Cheques or security offered as part of the arrangement
Frequently asked questions
What if the debtor defaults on the plan?
The agreement should contain default and acceleration provisions. We record the default and advise on the options available under the agreement.
Should I accept less than the full amount?
That is a commercial decision. We set out what the documents support and the practical prospects, so the decision is informed.
Can a settlement be documented in both languages?
Yes, and we address which language governs.
Related services
Legal Notices and Demand Letters
Formal demand letters and legal notices drafted to state the claim clearly and on the record.
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Contract Drafting and Review
Drafting, reviewing and amending commercial contracts so obligations and risks are clear.
Learn moreOutstanding invoices or overdue receivables?
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