GVA has set up a fully-fledged debt collection unit to cater for businesses with cash flow complications emanating from defaulting clientele. For large collection assignments, the firm encompasses a multidisciplinary team to augment the legal function. Some of the team members are qualified accountants and credit management experts who form an aggressive, highly motivated and result oriented team dedicated to optimum debt collection. The debt collection department has been assigned debt collection work by government entities, private businesses and private clients exceeding USD 20 million.
Our work majorly includes the following:
- Claims handling: From initial hand delivered demand letters to defaulting debtors to litigation and judgment collection.
- Negotiation and Restructuring of Debt: Negotiating and Drafting binding agreements on restructuring of debt.
- Alternative Dispute Resolution: Alternative dispute resolution mechanisms, such as negotiation and mediation as cost effective alternatives to protracted and costly litigation.
- We have undertaken recovery of debt for suppliers of various goods and services, insurance brokers and from defaulters for Commercial Banks.
- We are currently working with a Water and Sewerage Company; Value of Debt taken up = Ksh. 169 Million.