Debt Collection in Lithuania
Debt Collection Conducted Locally in Lithuania
Experts on Lithuanian conditions, laws and business culture
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When your Lithuanian customer does not pay
It is the fact that when you are in the business world you will for sure go through the bad debts issue which in reality needs a lot of knowledge especially about the laws applied to a particular country, for recovering. So If you have sold goods or services to a Lithuanian company, and if the company does not pay, you should let a debt collector with local presence n Lthuania handle the recovery process. The reason why it is a good idea to use a Lithuanian Debt Collector is that national laws and regulations apply to the collection process.
In this scenario the wise step one can take is to hire a debt collection service like Oddcoll debt collection services in Lithuania that posses all the necessary skills and is partnered with a local Law Firm that are well-known and experienced in providing debt collection services. Actions are wuickly taken once you upload your claim and keep you will be uptaded with the whole process until your claim is recovered.
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When your invoice is recovered
When proceedings over an unpaid invoice have been settled between the debtor and our debt collector – (the Law Firm Marcinkevi?ius & Partners JURIDICON. Located in Vilnius, Lithuania). -the money will be wired to your account.
Debt Recovery in Lithuania – An overview
The first step of debt recovery is often referred to as the “out-of-court phase”, because the debt collector does not take legal action at this point. Instead, the debt collector tries to convince the debtor to pay voluntarily. This is achieved through communication with the debtor through, for example, phone and dunning letters.
Judicial Debt Recovery in Lithuania: Applications for payment orders can be made for pecuniary claims against Lithuanian debtors. They shall contain information about who the parties are and the basis for the claim. Responsible for the procedure is the district court where the debtor is domiciled/residence. If the debtor disputes the claim within the time limit, the creditor is given the opportunity to continue the case as ordinary civil litigation court process.
After you have taken legal action and received a verdict against the debtor, the debtor will hopefully pay the debt. But that’s not always the case. Then, as a creditor, you must apply for enforcement against the debtor (if the debtor has sufficient means to pay the debt). Bailiffs ensure that the debtor fulfills his obligations according to the judgment. For example, it may be to take possession of the debtor’s assets.
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