Finland 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 Finland
– Location of office in Finland
– Number of staff
Over 900 staff
– How long been operating as a debt collector in Finland
Since the 1980’s
– What type of debts do you recover? Do you do commercial (B2B) and consumer (B2C) debts?
We recover both commercial debt collection (B2B) and consumer debt collection (B2C)
– Statute of limitation in Finland
The statute of limitation is typically 3 years for contracts
– How EU laws effect debt collection Agencies in Finland?
Finland is governed by EU regulations.
– How many company registries in Finland for businesses? (i.e. UK just has 1 central registry)
FINNISH PATENT AND REGISTRATION OFFICE
Sörnäisten rantatie 13 C, Mailing address:, FI-00091 PRH, FINLAND
Any general comments regarding process in Finland for debt collection and how differs from UK / other European countries:
– What is the debt collection process in Finland
Collection activities are roughly divided into extrajudicial and judicial phases. In the extrajudicial process the aim is to achieve an out of court settlement If debtor does not pay voluntarily, then the debt collection will proceed to judicial process which in Finland means a summon application to a district court and after having the court ruling the enforcement procedure.
– Average length of time to collect?
There is no average time frame for the debt collection process in Finland. Amicable resolutions are normally completed in a few weeks. The court processes can take many months to complete.
– Can late payment fees / interest be added to claims?
Interest on late payments accumulates during the entire debt collection time. The interest on late payments is determined by the Finnish Interest Act. If the due date has been agreed on beforehand, the late-payment interest starts from the due date.
Normally, debt recovery costs can be claimed at most for two payment demands. Costs can be claimed for more than two payment demands only if there has been a special reason for sending them and the payment demand details the collection particulars and provides the special reason for sending those demands.
The recovery costs claimed from the debtor for the first payment demand can, at most, amount to:
€ 14, if the principal sum does not exceed € 100 or if the debt is directly enforceable (for example, a health centre payment for a municipality).
€ 24, if the principal sum is € 100 – 1 000
€ 50, if the principal sum is more than € 1 000
For the second payment demand, the creditor can charge at most a half of the maximum amount of the charges for the first payment demand.
– Details on legal service / legal process in Finland
Civil proceedings commence with a written stage, in which the claimant first lodges his claim and the defendant subsequently files a statement of defence. The court may, of its own motion or upon request, order further written submissions from the parties prior to the preparatory hearing.
After receiving the necessary written submissions, the court calls the parties to a preparatory hearing, the aim of which is to clarify the issues in dispute and the evidence to be presented at the main hearing. During and after the preparatory hearing further written submissions may be ordered by the court.
At the main hearing, the parties present their evidence and arguments. In addition, all witnesses and experts are heard. Judgment is delivered thereafter.
The length of proceedings and of the main stages varies for example due to the complexity of a case and there are no comprehensive statistics.In civil law cases, the burden of proof lies on the party asserting a fact on the balance of probabilities. In some cases, the burden of proof can be reversed.
Court-sponsored mediation is part of the court litigation process.
There are many unique requirements to recovering international debts in all countries including Finland 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.