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Debt Recovery Glossary Terms

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Administration
A rescue procedure for insolvent companies where an administrator is appointed to recover the business.
Affidavit
A sworn statement written down and sworn to be true by the declarant before an officer authorized to administer oaths.
Affidavit of Debt
A written statement that serves as evidence of a debt, usually sworn before a notary.
Arbitration
A private, contractual form of dispute resolution, which provides for the determination of disputes by one or more arbitrators by reference to general law or chosen rules of law.
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