If the Real Estate developer does not return the loan in the established time, previously signed by the investors and the platform, Housers will ask for an extra-judicial injunction in order to fulfill its obligation. Consequently, the injunction will be immediately followed by legal actions.
Therefore, a lenders’ meeting will be held and in there, investors could ask for reimbursement through a company specialized in the credit recovery.

Check our “Lenders’ meeting” article.

What happens if investors ask for reimbursement through a company specialized in the credit collection?

Companies specialized in the credit recovery are those that act as mediators between the lender and the investors in order to fulfill the investors’ credit. Credits’ recovery consists of an attempt from a department or from an agency specialized in the credit collection, to collect an obligation derived from an expired credit.

The company that will be in charge of the management of the credit collection is Multigestión Iberia, composed by a team of professional lawyers that will review the whole available documentation in order to decide if the case should be sent to the court or not.
If the answer is yes, an action plan is set and it has the aim of establishing the fastest way to obtain credits, taking into account the investors’ preferences.

Master plan

The company specialized in the credit collection will be responsible for the management of the case during the entire process. It means that it will be responsible for sending letters, making calls, negotiating the demand, managing the case and solving, when necessary, the accusation that could have been done during the juridical processor during an eviction corresponding to a judgment.

Process’ phases:

  • A certified communication will be sent and its content will be about the case assignation. In there, there will be the debtor’s balance which is asked to be solved in a friendly way.
  • The debtor will be contacted through the phone in order to reinforce the friendly resolution and underline the certified communication’s content through a direct approach lawyer-debtor.
  • If the rejection continues, a second communication will be sent and, this time, the content will be about the loan’s expiration date, the final balance of the debt, the initiation of legal proceedings and the establishment of another deadline for payment.
  • Another phone’s call will be held in order to communicate the following deposit of the demand.
  • Finally, the legal process will take place and its main object will be the negotiation between the holders. It lasts until the legal process completion.

Credit Recovery simulation

For you to better understand the dynamics of the process, we are leaving you here a credit recovery simulation derived from a project.

The company specialized in the credit recovery will receive a percentage of the gross amount of the debt recovered (nominal amount + interest on arrears + other expenses) as consideration for its services. The commission will be applied to the recovered amount both in a friendly manner as well as in a judicial way.

Legal fees, lawyers’ fees, and extraordinary expenses shall be charged to Housers.