Collections Procedures

Collections Procedures

The collections system was created to allow creditors to take actions against borrowers in order to collect the debt.

In addition, such a system allows to enforce verdicts which were ordered on behalf of the creditor, and also to be paid off using different deeds that are in the possession of the creditor (such as a mortgage deed, promissory notes, or checks) against the borrower.  The debt collection is conducted by the Collections Authority which works in concert with magistrate courts, which are located throughout Israel, from north to south.

The collection proceedings are handled by the laws of debt collections, 1967, and its different ordinances and regulations, which are acted upon pursuant to its authority, and in accordance to the decisions of the collections receiver in front of whom the proceedings occur.

Nonetheless, the debtor has several legal support options at his disposal, which might delay and "freeze" the collections proceedings that were already taken, and even cancel them as listed below:

An objection to execution of a deed, delaying the proceedings, and a plea of "I paid off."

Whether you are a borrower or a creditor, the collections case that was filed on your behalf, or against you, you are required to act properly and responsibly in these proceedings, because at the end of the day, it is your action that could determine the payoff or cancellation of the debt.

לייעוץ חינם השאירו פרטים ואחד מנציגנו ישמחו לחזור אליכם
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