El Salvador 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 El Salvador
– Location of office in El Salvador
Antiguo Cuscatlán, La Libertad (southwest of San Salvador)
– Number of staff
– How long been operating in El Salvador
– What type of debts do you recover? Do you do commercial (B2B) and consumer (B2C) debts?
We can provide services to recover both types of debts.
– Statute of limitation in El Salvador
In El Salvador, the statute of limitation for debt collection is 10 years if the debt has an enforceable title, and 20 years if not. An enforceable title certifies the claim and grants the collector the right to demand compliance of said title, and the Salvadoran law of Civil Procedures enable these titles to be enforced through a brief and shorter procedure.
– How EU (European Union) laws effect debt collection in El Salvador?
El Salvador has its own debt collection regulation, and is not affected by EU laws.
– How many company registries in El Salvador for businesses? (i.e. UK just has 1 central registry).
In El Salvador 1 mandatory registry is required for businesses, in the Commercial Registry.
General comments regarding process in El Salvador for debt collection and how differs from UK / other European countries:
– What is the debt collection process in El Salvador?
The process for judicial collection is as follows:
– A claim is filed at the Civil and Mercantile Courts, requesting payment of the obligation through garnishment.
– If the claim is admitted by the Court, without opposition by the defendant, a writ of garnishment is issued to confiscate the property that the Court indicates.
– In case of opposition, a hearing will be held to settle the conflict between the parties.
– After the hearing, the Court will pronounce a final judgment, in order to officially pay the debt with the garnished goods, either by selling it or awarding it to the plaintiff.
– Average length of time to collect?.
The estimated time for debt collection is 9 months to a year and a half.
– Can late payment fees / interest be added to claims?
Yes, late payment fees and interest need to be added to the claim in order to be collected.
– Details on legal service / legal process in El Salvador
The legal process can only be carried out by authorized lawyers.
The debt collection process is simpler and shorter if an enforceable title is executed.
There are many unique requirements to recovering international debts in all countries including El Salvador debt collection services which differ from the UK debt collection agency services 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.