Legal Action if Debtor Default

Default can be defined as a failure or negligence by Debtor to pay his/her financial liabilities to the Creditor on due date according to agreements made.

Legal Actions that the Creditor can took against the Debtor:

1. Trying an amicable settlement by deliberating and kinship approaching to achieve mutual agreement regarding the Debtor obligations to the Creditor; or
2. Filing a Legal Notice to the Debtor so that he/she can soon fulfill the obligations to the Creditor according to the agreements made.
3. Litigation, which is suing to the District Court. This can be done by preparing the Agreement made by both parties, which will be used as an evidence to the Panel of Judges in trial.