Is debt collection through compulsory execution possible?

Even if the loan certificate was notarized, unless it is a promissory note notarial deed, you cannot immediately carry out debt collection through compulsory execution.

This is because notarization of a loan certificate only has the effect of proving the existence of a monetary loan contract and does not by itself grant the authority to forcibly recover the claim in the event of default.

However, if, when drawing up the loan certificate, you also draw up a promissory note notarial deed to the effect that you consent to compulsory execution, this deed becomes a title of execution, and debt collection and compulsory execution can proceed without a separate lawsuit.

A promissory note notarial deed is prepared by a notary with the note or check attached, and the authenticated copy is given to the creditor, a certified copy is given to the debtor, and the original is kept by the notary.

Through this, if the debtor does not perform repayment, debt collection through compulsory execution can proceed immediately without a separate lawsuit, which can reduce delay and uncertainty in the debt recovery process.

It is advisable to confirm the specific methods, procedures, and whether execution is possible in relation to debt collection through compulsory execution by consulting a debt collection attorney.

For related details, please confirm through a consultation with a debt collection attorney.