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?
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
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.