Gibraltar 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.
Although Gibraltar is a British overseas territory, it has a separate legal jurisdiction from the United Kingdom. The Gibraltar economy is mainly based on shipping, tourism, financial services, and the Internet (predominately gambling).
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 Gibraltar
– Location of office in Gibraltar
292 Main Street Gibraltar
– Number of staff
– How long been operating in Gibraltar
– What type of debts do you recover?
We do both commercial debt collection (B2B) and consumer debt collection (B2C)
– Statute of limitation in Gibraltar
6 years (for contracts)
– How EU laws effect debt collection in Gibraltar?
The legal system in Gibraltar is based upon the Civil Procedure Rules applied in England & Wales in most instances.
– How many company registries in Gibraltar for businesses? (i.e. UK just has 1 central registry)
1 – Companies House Gibraltar.
– What is the debt collection process in Gibraltar?
As per the Civil Procedure Rules.
– Average length of time to collect?
This depends entirely on the conduct of the Defendant and whether or not payment is made upon Judgment. The need to enforce a Judgment will always delay collection.
– Can late payment fees / interest be added to claims?
Interest is always in the Discretion of the Court. The Late Payment of Commercial Debts (Interest) Act 2003 provides for any qualifying debt created by contract to carry statutory interest at the rate of 8.5% per annum.
There are many unique requirements to recovering international debts in all countries including Gibraltar 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 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 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.