Luxembourg Debt Collection – No Win No Fee
Creditreform operates a global specialist International debt collection 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. Creditreform Luxembourg works very closely with our German head office and has an extensive database on Luxembourg companies which enables them to assess the financial situation of debtors before an instruction is given.
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 Luxembourg:
– Location of office in Luxembourg
– Number of staff
10 staff in Luxembourg debt collection department
– How long been operating in Luxembourg
– What type of debts do you recover?
Both commercial (B2B) and consumer (B2C) debts
– Statute of limitation in Luxembourg
Most common limitation periods are: 10 years in B2B / 1 year in B2C / 30 years Enforcement orders or judgments. Limitation periods might need to be checked on a case to case basis, as they depend on the basis of the claim
– How many registries in Luxembourg for businesses? (i.e. UK just has 1 central registry)
Luxembourg has 1 central company register (RCS/Registre de commerce et des sociétés)
– What is the process in Luxembourg?
No special process imho (reminders sent per mail/e-mail/fax – phone calls…etc) The following research can be performed out-of-court (B2C) : address research and employer research
– Average length of time to collect?
Strongly depends on the case as well as the debtor’s solvency.
– Can late payment fees / interest be added to claims?
Yes they can.
– Details on legal service / process in Luxembourg
According to the file, legal service is made in-house via a court order or by our lawyer
As a Professional of the financial sector (Professionnel du Secteur Financier, PSF) Creditreform Luxembourg SA is subject to supervision by the Luxembourg Financial Supervisory Authority, the “Commission de Surveillance du Secteur Financier” (CSSF).
There are many unique requirements to recovering international debts in all countries including Luxembourg 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 international 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.