1. Costs – No Win No Fee!

Having long standing relationships with all our overseas partners we have agreements to provide these services on a NO WIN NO FEE basis charging the agreed commission rate against monies recovered only.

2. Coverage in Latvia

Latvia is divided into 9 cities and 67 towns with Riga by far the most populous city with a third of the population living in Riga alone. Our local office is is Riga so we are centrally located to recover debts throughout the entire country.

3. Local Experience

Unlike many of our competitors all cases are handled by the local office or partner. The reasons for this are they speak the debtors’ language, in this case Latvian  is the official language with Russian also widely spoken. These are reasons why Creditreform are the ideal people to help you in collecting debts from overseas.

4. Statute of Limitation in Latvia

10 years but there are special exemptions so whatever the age please contact us and we will advise if we can assist with your claim

How to Instruct Us

We simply require the following details:

PLEASE CALL US ON 0121 442 5330 FOR FURTHER DETAILS

Or ask us to call you – just leave us your details:

 





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:

  1. The local cultures
  2. The languages
  3. The laws
  4. Are in the same time zones

 

Herewith details of our debt collection service Latvia

–       Location of office in Latvia
Riga

–       Number of staff
70 staff

–       How long been operating in Latvia
Since 1995

–      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?
3 months

–   Can late payment fees / interest be added to claims?
Yes

–       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.

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“We are pleased with the friendly and efficient service of Adrian Harding and staff at Creditreform in collecting outstanding overdue debts on our behalf. Some accounts, especially those located overseas have been difficult customers but we are pleased with the high rate of success. We also appreciate that they keep us informed and constantly updated on the progress of the collection”
Bryan de Beer, Phoenix Fragrances
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“Within 48hrs of Creditreform being involved a resolution was agreed and within the week paid in full. The professionalism of the Creditreform team was second to none and I would and indeed do recommend them to colleagues in a similar difficult position This situation was the first time we have had to employ a company for debt recovery and it was good to feel that you have someone else ‘on your side’.”
Dean Lake, Lake Contracts
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“We have been using Credit Reform for a number of years now and we have always been dealt with in a professional and friendly way. Over time, Creditreform have managed to achieve good results for us. Would definitely recommend.”
Anna Zhakrova, Catering Hygiene Specialists Ltd
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“I have worked with Creditreform for many years and always received a first class service. Keep up the good work”
Russell Hardwick, MSC Industrial
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