Debt collection in Brazil x Korea

See also:  Verifying a Brazilian Power of Attorney - Question from Korea





I have just read a post from the Korea Law Blog that details how Korean courts can seize, or garnish, part of the salary of a debtor, in order to pay a creditor (Please check the link at the end).



The Korean system is remarkable. In Brazil, salaries cannot be seized for the payment of debts!


This limitation is traditional in our legal system, and is based on the old assumption that rich people would have colateral to guarantee his debts, while poor people would use 100% of its income to survive, and thus should not be subject to losing its only source nutrition and shelter.



This limitation is being lifted slowly by the courts, specially if the creditor is a former employee of the debtor and, therefore, would also need to receive its salary in order to survive.



Brazil is not Korea, though. You should always ask for a colaterall.



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The Korean Law Blog: Garnishing Wages in Korea: Collection of Debts in ...: I received a call from a friend asking about information concerning collecting on a large personal debt. He loaned money to a “friend” and ...

Verifying a Brazilian Power of Attorney - Question from Korea

SEE ALSO:

NEW RULES FOR POWER OF ATTORNEY - 2017

Debt  Collection in Brazil x Korea

Incorporating a Brazilian company, step by step

How to incorporate a Brazilian company through foreign direct investment

List of documents for setting up a company in Brazil

Dear Mr. Adler,  

 

Currently, I am making business case with Brazilian company and I have received FULL POWERTED POA including rights of enter into negotiation, sell, transfer funds signature and etc. 

Is there any other way, I can verify if the POA issue in Brazil is legitimate? 

For your reference, I have only received POA document only, grantor’s I.D copy and delegator’s I.D have not included. The grantor and delegator is both Brazilian. 

 

I am looking forward hearing from you soon. 

 

Best Regards, 

KPop Gangnam 

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Dear Kpop

Thanks for the contact. 

It the PoA is a public document (issued by a Brazilian notary public, or "Cartório"), it can be checked in Brazil, by anyoned. A permanent record is available at the Cartório. Even though, one must contact the grantor to check if he happened to cancel the PoA. 

 If it is a private document, the only way to check it is to contact the grantor, or to verify his signature, in case the grantor has a standard signature registered at a local cartório. 

Good luck!

Adler

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NEW RULES FOR POWER OF ATTORNEY - 2017