If I send a certified letter of content for outstanding receivables, can I receive the money right away?

Hello. I am an attorney specializing in debt collection at Daeryun Law LLC.

A certified letter of content for outstanding receivables is not, in itself, an enforcement title that allows the attachment of the other party's property, but it can be a very important starting point in the process of recovering a claim.

This is because it has the legal significance of clarifying the delay in performance under the Civil Act, fixing the point at which delay damages arise, and leaving objective evidence that the creditor actively demanded repayment.

In particular, when the extinctive prescription is imminent, if you take procedures such as attachment, provisional attachment, or the filing of a lawsuit within 6 months after sending the certified letter of content, the effect of interrupting the prescription is applied retroactively, so you can protect your valuable claim.

(A 5-year extinctive prescription applies to commercial claims, and a 3-year extinctive prescription applies to the price of goods, construction payments, and the like.)

If the other party refuses to pay even after you send the certified letter of content for outstanding receivables, you must secure an enforcement title through an application for a payment order or a civil lawsuit.

A payment order can obtain the same effect as a judgment without appearing in court, so it is economical in terms of time and cost, but if the other party files an objection or service cannot be made due to an unknown address, it ultimately proceeds to a formal lawsuit, so you must choose strategically depending on the debtor's attitude and whether their residence can be identified.

In this process, it is important to systematically organize evidence such as the contract, tax invoices, transaction statements, deposit records, and business communication records, and it is effective to carry out preservative measures such as a provisional attachment in parallel so that the debtor cannot conceal or dispose of assets during the lawsuit.

Daeryun Law LLC assists throughout the entire process, in accordance with legal procedures, from the preparation of the certified letter of content for outstanding receivables to the review of the facts, the organization of evidence, and compulsory execution.

We hope you will seek a systematic response plan for recovering outstanding receivables through a review of the legal principles at each stage.