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Debt amount and Receivables Audit

Inside Material

December, 2023

Regulatory and supervisory initiatives leading to sustainable consumer credit market in Lithuania

Jovita Krakauskiene, Chief Lawyer at the Credit and Insurance Services Supervision Unit

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Debt amount and receivables audit

1. Creditor search
  • sorting of documents
  • rapport from national credit bureaus about client,
  • contact with local bailiff, district court, and with single creditor
2. Managing advisory case
  • audit of receivables, liabilities
  • analysis clients income situation (actual and potential income sources, social benefits)
  • analysis household budget and expenditures
  • List of property and assisting real market prices,
  • Recommendations regarding loans consolidation, potential premature repayment of some loans, prioritize some credits
3. Analysis contractual situation
  • unfair contractual terms in business-to- consumer contracts,
  • Analysis of interest, late payment interest, late payment fees, and contractual penalties
  • Guarantees (deposits) provided by the client,
  • Change in person of debtor and/or creditor – transfer (cession) of the claim,
  • accession to liability, assumption of liability
  • Mutual netting of claims and liabilities.
  • surety
  • invalidation,
  • cancelation, termination
  • expiration, non claim
  • insurance
4. Analysis non contractual situation
  • incapacitation fully/partial

This might include key aspects of proper analysis of client situation.

Co-Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or EISMEA. Neither the European Union nor the granting authority can be held responsible for them.