Guatemala 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 Guatemala
– Location of office(s) in Guatemala
Guatemala City. We cover all the territories in the Republic of Guatemala.
– Number of staff
Staff members: four (4)
– How long been operating in Guatemala
43 years operating in Guatemala. However, my family –of lawyers- has 150 years.
– What type of debts do you recover?
We do both commercial debt collection (B2B) and consumer debt collection (B2C)
Statute of limitation in Guatemala
There are not limitations in Guatemala for to recover debts, provided that the creditor has the documents for to demonstrate the validity of its collection.
– How EU laws effect debt collection in Guatemala?
We have experience in collecting debts from the EU countries. There are some EU countries that have agreements for investment protection with Guatemala and with some other Central American countries.
– How many registries in Guatemala for businesses? (i.e. UK just has 1 central registry)
In Guatemala companies have only one central Registry: the Commercial Register Office for businesses.
– What is the debt collection process in Guatemala?
I practice two kinds of debt collections: out of Court and with legal actions. Out of Court are the most used, with commission fees (no win no fee) of the recovered amount. With legal actions paid in advance for expenses and fees at the end over the recovered amount.
– How EU laws effect debt collection in Guatemala?
The system of Guatemala is very different from an European process. In Guatemala legal process at the Court takes long time.
However, arbitration is similar and very useful, provided that the creditor has agreed previously with the debtor the arbitral clause.
– Average length of time to collect?
Average length of time to collect: out of Court, two to six months; with legal process at the Court, three to five years. Arbitration: 6 to 8 months.
– Can late payment fees / interest be added to claims?
Depending on the economic situation of the debtor, is possible to have interests paid also. However, for to guarantee the payment of the main amount due, sometimes the negotiation includes to exclude interests. It vary from case to case.
– Details on legal service / process in Guatemala
Legal service in Guatemala is better in direct way, without involving the Courts.
The economy of the Latin American region is in the middle point between growth and recession, then the companies are not growing and are subsisting with more effort and sacrifice than before. When negotiating it is possible to have a radiography of the economic conditions of the debtor and therefore to calculate how will be recovered. However, there are few businesses that are in a good moment for to be obliged to pay.
There are many unique requirements to recovering international debts in all countries including Guatemala 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 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.
