Bank Loan Recoveries
An Insight: into The Banking Sector of Pakistan:
Banks and financial institutions being financial intermediaries have gone through an evolutionary time period over a couple of decades. Especially in Pakistan, this evolution has had its peak in the last decade where the banks and financial institutions have been successful in spreading out their money into the market in the form of loans, leases and other ancillary financial services. This led them to being deprived of their own money which had become hard to recover from the debtors even after adopting many procedures and taking different measures. These millions and even billions of rupees affected the banking services enormously and hence put a full stop to deliberate increase in banking capital, alternating their ways toward recoveries.
Litigation Modality of Banks:
Generally Banks employ two methods for litigation purposes:
The services of in-house permanent legal department, and/or Banks Out source litigation to lawyers or firms
The former is subject to monthly salaries while the latter to case-to-case based fees.
In either of the case, lawyers prefer to institute a Recovery Suit, which ultimately becomes the part of courts’ procedural culture. By that time lawyers themselves and Banks involved lose interest in recovery; its fate becomes a dream to be realized after an infinite span of time as it has to be decreed and executed or auctioned afterwards.
Weak Link In Banking Litigation:
For lodging application for an FIR, the Bank has to manage this through its legal department which by itself is not experienced enough to deal with the POLICE, FIA and NAB etc. Likewise for mediation and conciliation for Settlements with the defaulter, the Bank does not have the required expertise. The desired result is not achieved in a reasonable time frame because different teams are working in different domains and at multiple levels.
How We are Different?
Our Approach & Objectives:
Solution Seekers Pakistan is a unique Company in this aspect. Our approach and objectives are well defined. SS Pakistan provides one-stop multi-dimensional solutions to all your problems by aiming at result oriented litigation and guaranteed results within minimum possible time.
We have specialized expertise in manipulating manpower to get your desired work done by approaching concerned departments and law enforcement agencies under the guidance, legal assistance and direction of our expert teams of:
– Forensic Audit Department
– Alternative Dispute Resolution (ADR) Professionals
– Field Recovery Officers
Keeping in view the above mentioned facts, in addressing and delivering Banking Litigation Requirements, SS Pakistan has developed a Forensic Audit Department where our expert Lawyers, Former Police Officers, Ex-Government and Judicial Officials work out a detailed ‘Action Plan’ for individual cases on the following parameters:
– Making Maximum litigation possible against defaulters
– Evaluating Repaying capacity of defaulters by keeping a check on their assets which may materialize in making their Repaying capacity possible
– In case of pending litigation, considerably expedite litigation process
– Strategy to employ Alternate Dispute Resolution (ADR)
– Conciliation and Re-conciliation etc.
– Compliance and continuous follow-up
Our Alternative Dispute Resolution (ADR) Professionals:
We have highly professional and seasoned Alternative Dispute Resolution (ADR) team that contacts defaulters and practically negotiates with them. Side by side with the ADR, wherever there is a need to institute complaints, legal actions and other necessary steps against defaulters in the Police Stations, FIA, NAB, Judicial Court etc., we assure to manage expeditious and fruitful results for you.
Our Field Recovery Officers:
We represent your cause and case before proper forums and courts. At the same time, our field work team locates defaulters by employing our resources established through-out Pakistan and if defaulters have absconded from Pakistani territory, we have a proper means to locate them. This is executed through our worldwide collaboration with one of the Debt collection companies in the UK, CCI Legal, having worldwide offices in more than 100 countries. Escape of defaulters therefore is not possible.
One Touch Update via Client Relationship Management (CRM):
In our existing and guaranteed method of legal solutions, SS Pakistan keeps you in touch and updated at every step. All progress is vigilantly followed up in practical terms to enable constant follow-up through ‘Client Relationship Management’ (CRM). The CRM communicates progress to the clients on each action taken or to be taken. This information can also be viewed by respective clients over the CRM online.
We Make Sure to Proceed with Legal Claims & Legal Cases Only!
A chronological ‘Status Report’ of the case is also updated from time to time which keeps the clients equally apprised about the status of the case.
Our Services For Banks Include:
– Bad Debts Recoveries
– Vehicles Re-Possession
– Defend Banks against complaints in Banking Ombudsman or Courts
– Legal Opinions
The Rationale behind Satisfaction of Our Clients:
We provide complete, clear and unambiguous legal advice to our clients.
As a result, following clients and partners are already on our panel being fairly satisfied with our services:
– CCI Legal – UK
– Trust Investment Bank
– KASB Securities
– Other chain of satisfied clients belongs to our offices in the UK, Australia and Thailand, where we extend extra-ordinary services to the overseas Pakistanis and foreign nationals.
Solution Seekers Pakistan’s Distinction:
Our collaboration as a Network Partner of CCI Legal — UK is yet another feather in the cap of our success. CCI Legal is an internationally renowned company with offices in more than 100 countries, professionally involved in worldwide Debt Recovery, Credit Check, Skip Tracing and Litigation. As a matter of pride, we are representing Pakistan in the International Credit Exchange Conference 2015 at Stockholm, Sweden. Among 100 participating countries, Solution Seekers Pakistan is the only nominated entity performing successful functions of debt recoveries in Pakistan.
Looking forward to render extra-ordinary services to you and assuring you a mutually beneficial relationship!