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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:

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 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?
3-12 months

–       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.

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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
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