Debt Collection Archives - Page 3 of 11

October 12, 2017

How can you stay compulsory execution in Japan?

There are certain ways to stay an order of compulsory execution and prevent your property from being seized immediately. Most of them involve a court order stating that compulsory execution is not permitted against the property in question for one of several legal reasons. Authenticated civil records, settlement agreements or other documents that state that compulsory execution is not to be carried out against the property also result in a stay of compulsory execution.

September 22, 2017

What parties are involved in performing a corporate reorganization in Japan?

When a company undergoes corporate reorganization to stabilize its business and avoid bankruptcy, two key officials will be appointed by the court to oversee the process: a Trustee and an Examiner.

August 28, 2017

What happens to a compulsory execution order if the creditor dies?

Depending on the size of the debt, fully paying a debt off through a compulsory execution order can take a long time. If the debtor’s salary is small or there are few assets available to pay the debt, the monthly payments may be relatively small. Therefore, there is a risk that the creditor may pass away, either from an accident, sickness or old age, before the debt can be completely paid. However, even in these cases, the debtor is not relieved of his or her duty to pay.

August 3, 2017

Are there any items that cannot be included in a bankruptcy estate?

The bankruptcy estate is composed of the assets held by the applicant at the time of filing for bankruptcy. However, there are some exceptions to what can be included in the estate. When a natural person goes through bankruptcy, the court will limit the estate so that a certain range of assets critical to protecting the debtor’s life cannot be included.