The first one is a performance of a contract on Debt Collection or debt recovery is beyond a year of its making.

The second one in Debt Collection or Debt Recovery  is if somebody promises to answer the debt of another person, you need make sure that that promise is written in order to enforce it. One that might be a little more common is the sale of goods valued at $500 or more.

There’s no reason why you can’t write up a little bill of sale for that if you ever need to pursue Debt Collection or Debt Recovery on that. Sale of real property may be also a concern in Debt Collection or Debt Recovery. That’s kind of an obvious one. I don’t think anybody would be foolish enough to purchase or sell land without a written contract.

Also read on Effective Debt Collection Methods