Seocho-dong lawyer, “Legal assistance must be used to resolve money and bond disputes.”

As the number of confirmed COVID-19 cases in Korea has recently decreased, the domestic market was predicted to gradually improve, but there are concerns about the possibility of a prolonged economic downturn due to the resurgence of the coronavirus originating from Itaewon. In relation to this, as the cash liquidity of individuals and companies decreases, conflicts between debtors and creditors due to financial transactions are increasing, regardless of the amount, such as product price, sales price, or loan amount.

According to Daeryun Law Firm's Debt Dispute Team, consultation inquiries related to debt collection are on the rise compared to last year, and various problems are being caused in conjunction with the difficult economic situation, such as ‘I lent money, but the money is not repaid,’ ‘I did construction, but the construction price is not paid,’ ‘I purchased materials, but the payment for the materials was not paid,’ and ‘I purchased goods, but the price for the goods was not paid.’

A lawyer from the Daeryun Law Firm's Debt Dispute Team said, "It is a chronic problem that the other party in a financial conflict usually just says that they cannot give it because they do not have the money. It would be nice if we could come to a good agreement, such as agreeing to receive the loan, payment, etc. in installments, but in reality, it is not easy. First, apply for a payment order to the other party, investigate whether the debtor has property, and if there is property, take preservation measures such as provisional seizure and civil lawsuit in parallel, and later enforce enforcement through civil procedures. “There is a way to collect the bonds,” he said.

He continued, "However, the other party who is concerned about civil litigation may escape the obligation to repay the money by hiding assets, rehabilitating or filing for bankruptcy. Therefore, if you can prove deception, it is also a good idea to sue for fraud under the criminal law." He added, "Once a crime is recognized and indicted, the possibility of imprisonment cannot be ruled out without paying back a certain amount of money, so there are cases where they change their stance and request an agreement. Therefore, in order to receive money that was not received, it is not only necessary to file a simple civil or criminal lawsuit, but also to file a lawsuit. “Careful legal analysis from multiple angles is required,” he added.

Meanwhile, Daeryun Law Firm's Debt Dispute Team, which has offices in Seoul, Busan, Daegu, Incheon, Gwangju, Daejeon, Ulsan, Suwon, Changwon, Cheongju, Jeonju, Uijeongbu, Chuncheon, Jinju, and Jeju, provides comprehensive legal services ranging from non-litigation agreements to civil and criminal issues in relation to rental, construction and material costs, investment recovery, unjust enrichment, repayment and return of lease deposits, etc., and debt collection. It's in progress.



Dailyan Reporter Kim Yun-seong (kimys@dailian.co.kr)

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