Faroe Islands 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 an agreed commission against monies recovered only.
Herewith details of our debt collection service Faroe Islands
– Location of office in Faroe Islands
Faroe Islands Debt collection partner is based in Denmark with the head office in Brøndby (Headquarter)
– Number of staff
Approx. 150 in Denmark
– How long been operating in Faroe Islands
Over 20 years
– What type of debts do you recover? Do you do commercial (B2B) and consumer (B2C) debts?
B2B and B2C
– Statute of limitation in Faroe Islands
3 years from due date
– How EU laws effect debt collection in Faroe Islands?
Most EU laws does not affect the Faroe Islands as we are a fairly open country. One law that can be applied around the EU is the European Account Preservation Order which does not apply in Faroe Islands
– How many registries in Faroe Islands for businesses? (i.e. UK just has 1 central registry).
Faroe Islands has one place where businesses can register. It is located at:
Skálatrøð 20, Postcode 64, FO-110 Tórshavn
General comments regarding process in Faroe Islands for debt collection and how differs from UK / other countries in Europe
– What is the debt collection process in Faroe Islands?
As the debt collection process in the Faroe Islands is operated by the Danish Partner the procedures are much the same as Denmark
– Average length of time to collect?
– Can late payment fees / interest be added to claims?
Yes – Both
– Details on legal service / process in Faroe Islands
The legal system is operated in a similar way to Denmark
There are many unique requirements to recovering international debts in all countries including Faroe Islands 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 the UK office. 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.