Chile Debt Collection – No Win No Fee
Creditreform operates a global specialist International debt collection 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 and agreed commission against monies recovered only.
Chilean companies generally pay their bills and invoices on time. Invoices are normally settled within 60 – 90 days. The legal system is also good but actions can take time and be quite costly. Pre-court collection processes by our approved local Chilean debt collection partner will prove far more cost effective and a speedier process to recover your monies successfully.
Chilean debtors will also pay debt collection costs and late payment interest. However, these will normally be negotiated and part of the final settlement especially if an agreed payment plan has been put in place.
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 Chile:
– Location of office in Chile
– Number of staff :
– How long been operating in Chile
– What type of debts do you recover?
Both commercial (B2B) and consumer (B2C) debts
– Statute of limitation in Chile
– How many registries in Chile for businesses? (i.e. UK just has 1 central registry)
Companies are registered at IRS
– Average length of time to collect?
Pre judical is 3-4 months
Legal is 2-5 years
– Can late payment fees / interest be added to claims?
Interest can be added but it’s not common for debtors to pay this in Chile
– Details on legal service / process in Chile
Civil Ordinary Proceeding
It includes 3 phases and starts with the lawsuit presentation.
3)Sentence (Final judgement)
Phase 1 includes Notification to debtor, reply and time for creditor to present his situation
Conciliation phase: Both parties are summoned to reach to an agreement.
Phase 2 : Presentation of proof
Phase 3 : Sentence is dictaminated
There are many unique requirements to recovering international debts in all countries including Chile 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 debt collector 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.