Debt Collection Process

The process of debt collection involves several stages, depending on the classification of the loan as per the requirements set by the Bank of Tanzania. Whether a loan is secured or unsecured has an impact on this process. The qualitative and quantitative analysis of the process may include the following key steps:

• Skip tracing procedure: This is to confirm if the current details are correct, accurate, and up-to-date.
• Issuance of Demand Notice: A formal letter is sent to the debtor.
• Follow-ups: These are made through mails, calls, and actual visits to ensure the debtor is informed.
• Court Process (litigation): If necessary, legal proceedings are initiated.
• Attachment and sale of the charged assets: If required, assets may be seized and sold to pay the debt.

Key Benefits of Choosing Miles Law Attorneys

As a law firm founded in 2015 with six employees, we have acquired a wealth of experience locally. Below are some of the key benefits you would enjoy by enlisting our services:

1. Extensive local training and experience.
2. Efficient Turn Around Time (TAT).
3. Cost efficiency through flexible pricing.
4. Modern debt collection strategies tailored to yield positive results.
5. Established network in the legal field.
6. Experience in Providing services to topCommercial and Financial Institution in Tanzania.

We are members of the East African Law Society and have won several awards for our outstanding work. Entrust your legal disputes to Miles Law Attorneys and experience the difference.

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Address

Postal Office Box 45128

Dar es Salaam.