Albania Debt Collection – No Win No Fee
Creditreform operates a global specialist International debt collections service. We have local offices and fully approved expert international debt collection agency partners in every country worldwide. All our International debt collection agency partners and offices operate on a No Win No Fee basis charging an agreed commission against monies recovered only.
Main reasons why a local country debt recovery agency is so important rather than trying to recover from the UK are as follows:
The local International Debt collection Partners know:
- The local cultures
- The languages
- The laws
- Are in the same time zones
Herewith details of our debt collection service Albania
– Location of office in Albania
– Number of staff
– How long been operating in Albania
– What type of debts do you recover?
We do both commercial debt collection (B2B) and consumer debt collection (B2C)
– Statute of limitation in Albania
According to the Albanian law, the statute of limitation period for the recovery of debts is 10 years.
– How EU laws effect debt collection in Albania?
The EU laws do not affect debt collection in Albania.
– How many company registries in Albania for businesses? (i.e. UK just has 1 central registry)
1 registry; the National Business Centre.
– What is the collection process in Albania?
Generally, the collection process in Albania includes two stages, (i) the out of court procedures (i.e. written warning to the debtor, phone calls and/or meeting with the debtor for payment of the debt) and (ii) court procedures, in case the out of court procedures result unsuccessful.
The collection process is performed through collection agencies or lawyers who act in the name of the creditor toward a fixed fee or percentage of the total amount recovered.
– Average length of time to collect?
The out of court procedures for the debt collection may last approximately two – three months.
The court procedures in first instance court may last from 6 to 8 months. The first instance court’s decision is not final and enforceable in case is appealed by any of the parties to the Court of Appeal.
The examination by the Court of Appeal would take place approximately (1) one-year time from the filing of the appeal. The decision of the Court of Appeal is final and enforceable. The parties can appeal against the decision of the Court of Appeal to the Supreme Court. However, the appeal does not suspend the enforcement of the decision unless specifically decided so by the Supreme Court.
Normally, the enforcement procedures of the court’s decision may last from 4 to 6 months.
– Can late payment fees / interest be added to claims?
Yes fees can be added.
– Details on legal service / legal process in Albania
Our legal services during the legal process consist in representation of the creditor in all levels of Albanian courts. We, without being limited to, prepare and submit lawsuit, submissions, motions, evidences and appeals if necessary. We assist also during the enforcement procedures of the court’s decision.
The legal process takes effect by filing the lawsuit against the debtor and the relevant evidences with the first instance court.
The court serves the lawsuit and the evidences of the creditor to the debtor, who should submit its statement of defense and evidences against the lawsuit within a maximum term of 30 days, from the date the lawsuit has been served.
The case is heard by the court through a normal trial. It is standard practice for the court to appoint an independent financial expert for the calculation of the debt value, interests and costs.
During the court procedures, the creditor may require as securing measure seizure of the debtor’s movable or immovable assets prior the court renders its decision on the merits.
There are many unique requirements to recovering international debts in all countries including Albania debt collection services which differ from the UK and therefore it is very important that cases are handled directly by our expert international debt collection agencies and not from debt collectors UK. This method of international debt collection sets Creditreform aside from the competition who in many cases try and recover debts from a UK office base only. Using the local offices and partners enables us to achieve a far greater success rate and our No Win No Fee service together with competitive commission rates against monies recovered only ensures you get the best service.