Collecting overdue debts in Luxembourg is not an easy process. You have to abide by the trade culture and legislation of the state for debt recovery Luxembourg. The process becomes a hassle if you are new to business in Luxembourg or dealing with the debtors for the first time as you are not experienced in this
Business experts suggest that whether you are the owner of a small business or operating a corporate firm, you must seek professional advice. Therefore, our associate debt collection agency is providing legal services in Echternach, Ettelbruck, Esch-Sur-Alzette, Dudelange, Wiltz, Differdange, Clervaux, Diekirch, Remich and Vianden.
Communicating with non-paying clients is tricky. You need to be patient while inquiring about delayed payment. If you fail to abide by the general code of conduct, then debtors have the right to sue you. Following are the suggestions by an expert debt collection lawyer for dealing with a debtor:
Every case is different in nature as the concerns of both parties vary. To deal with every debt collection Luxembourg dispute in a professional way, our debt collection experts are there lend a hand. They are well-aware of the rules and regulations of the state and experienced in dealing with debtors. Our associate legal attorneys converse with debtors in their native language to overcome the language barriers. They will guide you the best route to recover overdue payments which keeping your business repute undamaged. You can hire them to complete the paperwork of the case.
The process of debt recovery Luxembourg does not begin through a lawsuit but it involves negotiations and then leads to legal proceedings if the matter remains unresolved. The details about both phases for debt recovery are:
In extrajudicial debt collection Luxembourg, a debt collection expert heads the meeting between both parties. Creditors and debtors come up with legal documents to claim their objects. Most of the times, both parties agree on installment based reimbursement plans to recover the unpaid invoices and bills.
If creditors do not get their money back after the extrajudicial phase, then they can announce taking legal action against them with the help of a debt collection lawyer. Announcing legal proceedings sometimes speed up the process however creditors are allowed to go to court to seek justice.
For both parties belong from EU member states (except Denmark), then European order for payment proceeding is used. Court issues a 30 days’ notice so that debtors can come to court with financial proofs of why they were unable to pay the debt on time.
In case they fail to appear in court after 30 days, then the court issues a final notice called a declaration of enforceability. Debtors are ordered to pay off the debt within the stated time. For deputed payments, ordinary civil proceedings are followed for debt collection in Luxembourg.
You must be thinking about how you will pay the service charges of our associate lawyers if they fail to recover your payments? Well, we have devised a No Win No Fee plan which exempts the clients from paying the service charges of debt collection agency if the legal attorneys are unsuccessful in recovering their debt.