Morocco 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 Morocco
– Location of office in Morocco
– Number of staff
Our firm employs 8 people shared between secretarial and collection services.
We also have contractors among the lawyers and bailiffs.
– How long been operating in Morocco
Since 2014 with over 25 years experience in the judicial field as a magistrate.
– What type of debts do you recover?
We do both commercial debt collection (B2B) and consumer debt collection (B2C)
Our firm intervenes for the benefit of:
– Large, medium and small businesses
– Health producers
– Statute of limitation in Morocco
The limitation periods of commercial debt in the Moroccan legislation are multiple and a little complicated, but in general they vary between six months and five years.
– How EU laws effect debt collection in Morocco?
The recovery of local claims from international creditors in Morocco is subject to Moroccan law within the framework of the principle of territorial law. In general, laws in Morocco are in some cases influenced by French laws.
– How many registries in Morocco for businesses? (i.e. UK just has 1 central registry)
The Moroccan trade register is made up of local registers and a central register.The local register is held by the secretariat-registry of the competent commercial court.The Central Trade Register is maintained by the Administration (Ministry of Industry and Commerce).
– What is the process in Morocco?
Generally, in Moroccan law there are two types of debt recovery
1. Amicable recovery
2. Judicial collection
The latter is multiple, since the procedure to be initiated depends mainly on the supporting documents held by the creditor.as an example, with bills of exchange or an acknowledgment of debt, one can initiate the order to pay but with an unpaid invoice must file an application before the commercial court.Regarding the average duration of recovery, we can not provide either for amicable recovery or judicial because it depends on several reasons.
– Can late payment fees / interest be added to claims?
Late payment interest on payment terms is currently set at 5.25%.In general, judicial recovery proceedings in Morocco are mostly long, especially if you do not choose a good lawyer. We work in collaboration with several law firms and bailiffs which allows us to have recovery cases in reasonable time. We are always at your disposal for more information.
There are many unique requirements to recovering international debts in all countries including Morocco 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.