1. Costs – No Win No Fee!

Having long standing relationships with all our overseas partners we have agreements to provide these services on a NO WIN NO FEE basis charging the agreed commission rate against monies recovered only.

2. Coverage in Faroe Islands

Faroe Islands is an autonomous province of the Kingdom of Denmark. Debt collection cases for Faroe Islands are handled by our Denmark partner whose head office is in Brøndby (near the capital Copenhagen).

3. Local Experience

Unlike many of our competitors all cases are handled by the local office or partner. The reasons for this are they speak the debtors’ language in this case Faroese is spoken by 90% of the population. We understand the local cultures and know all the legal processes. These are reasons why Creditreform are the ideal people to help you in collecting debts from overseas.

4. Statute of Limitation in Faroe Islands

3 years but there are many special exemptions so whatever the age please contact us and we will advise if we can assist with your claim

How to Instruct Us

We simply require the following details:

  • Full name & address of the debtor
  • All available contact details of the debtor i.e. contact name(s) / Tel / Mobile / Email(s)
  • Amount owed (Invoice(s) or Statement will help)

PLEASE CALL US ON 0121 442 5330 FOR FURTHER DETAILS

Or ask us to call you – just leave us your details:

 




Faroe Islands 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. All our international offices and partners initiate the collection processes by sending the debtors a debt collection letter to introduce their involvement.

Main reasons why a local country debt recovery agency is so important rather than trying to recover from a debt collection agency UK are as follows:

Herewith details of our debt collection service Faroe Islands

The local International Debt collection Partners know:

Faroe Islands Debt collection partner is based in Denmark with the head office in Brøndby (Headquarter)

All debt collection letters are sent by the local head office.

Number of debt collection staff?

Approx. 150 in Denmark. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response results from debtors.

How long have you been operating a debt recovery service in Faroe Islands?

Over 20 years

What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)?

We handle both Business to Business debt recovery cases and Business to Consumer debt collections cases. There is different content for business to business debt collection letter templates and business to consumer debt collection letters templates.

Statue of Limitation in Faroe Islands?

3 years from due date

How EU (European Union) 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 companies registries in Faroe Islands for businesses (i.e. UK has just 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 a debt?

3-12 months

Can late payment fees / interest to 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

Faroe Islands Business Credit Reports

Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. We provide freshly investigated Faroe Islands Credit Reports which can be done prior to trading to make sure the company you will be dealing with can meet the commitment or once the debt becomes overdue to ensure the debtor can meet the amount owed.

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.

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“We are pleased with the friendly and efficient service of Adrian Harding and staff at Creditreform in collecting outstanding overdue debts on our behalf. Some accounts, especially those located overseas have been difficult customers but we are pleased with the high rate of success. We also appreciate that they keep us informed and constantly updated on the progress of the collection”
Bryan de Beer, Phoenix Fragrances
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“Within 48hrs of Creditreform being involved a resolution was agreed and within the week paid in full. The professionalism of the Creditreform team was second to none and I would and indeed do recommend them to colleagues in a similar difficult position This situation was the first time we have had to employ a company for debt recovery and it was good to feel that you have someone else ‘on your side’.”
Dean Lake, Lake Contracts
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“We have been using Credit Reform for a number of years now and we have always been dealt with in a professional and friendly way. Over time, Creditreform have managed to achieve good results for us. Would definitely recommend.”
Anna Zhakrova, Catering Hygiene Specialists Ltd
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“I have worked with Creditreform for many years and always received a first class service. Keep up the good work”
Russell Hardwick, MSC Industrial