Latvia 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 Latvia
– Location of office in Latvia
– Number of staff
– How long been operating in Latvia
– What type of debts do you recover?
We do both commercial debt collection (B2B) and consumer debt collection (B2C)
– Statute of limitation in Latvia
10 years, if debtor or creditor has not received reminder about debt.
– How EU laws effect debt collection in Latvia?
General Data Protection Regulation (GDPR), THE CIVIL LAW, Law On Extrajudicial Recovery of Debt, Insolvency Law
– How many registries in Latvia for businesses? (i.e. UK just has 1 central registry)
1 Register of Enterprises
– What is the process in Latvia?
Debt recovery services:
- Reminder service;
- Debt collection from private and legal persons (Inkasso);
- Debt collection abroad;
- Legal services for debt cases;
- Debt purchase
Creditreform debt recovery process includes:
- debtor identification using information from LR Population Register and the Register of Enterprises of the Republic of Latvia;
- reminder letter system;
- phone inkasso;
- agreements of paying order;
- payment’s control;
- when closing a case – recommendations for further actions (if needed);
- regular results accounts.
– Average length of time to collect?
– Can late payment fees / interest be added to claims?
– Details on legal service / process in Latvia
Creditreform legal services are a direct continuation of the collection process, where a debt is no longer recoverable with collection methods.
There are many unique requirements to recovering international debts in all countries including Latvia 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 from Creditreform.