Compulsory execution to forcibly collect a debt in Japan can be used either directly against the debtor and his or her assets, or in certain circumstances, against the debtor’s successor in interest or someone who has taken on the responsibilities of the debtor such as a guarantor.
When a creditor has to forcibly collect a debt in Japan, or anywhere else, often the debtor does not have the liquid cash available to satisfy the deficiency. In these situations, compulsory execution can be used to seize the debtor’s assets beyond money in a bank account. Compulsory execution can be used to reach the debtor’s real property, vehicle, boat or even personal property.
If you have any questions about compulsory execution in Japan, please contact our office to set up a legal consultation.