Paraguay 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 Paraguay
– Location of office in Paraguay
– Number of staff
We’re a big team of about 50 people in between lawyers and paralegals. We also have a branch office in the city of Encarnación (border city with Argentina) and another one in Ciudad Del Este (border city with Brazil).
– How long been operating in Paraguay
We are a successful full-Service firm, with a 43 year trajectory in the market.
– What type of debts do you recover? Do you do commercial (B2B) and consumer (B2C) debts?
We recover all types of debts, both B2B and B2C.
– Statute of limitation in Paraguay
The Statute of limitation in Paraguay regarding to Commercial rights consists of 4 years.
If it’s a promissory note with a due date, it must be collected since then and the expiration date for the collection is after 4 years since the due date. Whereas if the promissory note does not have a payment date, it can be collected at any moment and the expiration date to start the legal actions is after 4 years since the emission.
– How EU (European Union) laws effect debt collection in Paraguay?
The European Union law does not have much incidence in the collection debt in Paraguay.
– How many company registries in Paraguay for businesses? (i.e. UK just has 1 central registry)
We just have one company registry for businesses; it’s called Dirección General de los Registros Públicos (General Office of Public Records).
General comments regarding process in Paraguay for debt collection and how differs from UK / other European countries:
– What is the debt collection process in Paraguay?
The collection process is brief with limited defenses for the parties and it could culminate with the refund of the debt, the interests and legal costs, or the auction of their goods.
– Average length of time to collect?
The average length of time to collect can be from 6 months to 2 years, taking into account the defenses presented by the debtor.
– Can late payment fees / interest be added to claims?
Late payment fees, as well as legal costs, can be added to the claims.
There are many unique requirements to recovering international debts in all countries including Paraguay debt collection services which differ from the UK debt collection agency services 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 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.