When attempting to collect a debt in Japan it is best to assemble as much evidence of the debt as possible beforehand. The most obvious and important evidence that should be collected are copies of invoices, bills and receipts that clearly establish the debt. However, there are many other types of evidence that can also be of great help in successfully pursuing a debt.
Before attempting to enforce a debt in Japan, it is important to confirm the basic information about the debtor. This includes confirming any address or contact information that may be outdated or incorrect.
Bankruptcy is a judicial process by which a debtor’s assets are divided among his or her creditors to pay off as much of the debtor’s debt as possible. To achieve these ends, the debtor’s assets will be converted to money in order to be fairly divided among creditors.