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How to Instruct Us
We simply require the following details:
Full name & address of the debtor
All available contact details of the debtor i.e. contact name(s) / Tel / Mobile / Email(s)
Amount owed (Invoice(s) or Statement will help)
Or ask us to call you – just leave us your details:
Ecuador 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. All our international offices and partners initiate the collection processes by sending the debtors a debt collection letter to introduce their involvement.
Main reasons why a local country debt recovery agency is so important rather than trying to recover from a debt collection agency UK are as follows:
The local International Debt collection Partners know:
The local cultures
The best methods of initiating debt recovery letters and processes
Are in the same time zones
Herewith details of our debt collection service Ecuador:
Location of debt recovery office in Ecuador?
Quito. All debt collection letters are sent by the local head office.
Number of debt collection staff?
Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response results from debtors.
Option for sub-hiring a private investigator
How long have you been operating a debt recovery service in Ecuador?
What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)?
We handle both Business to Business debt recovery cases and Business to Consumer debt collections cases. There is different content for business to business debt collection letter templates and business to consumer debt collection letters templates.
Statue of Limitation in Ecuador?
10 years for normal invoices, 5 years for IOU's (as an expedite process, then an ordinary process is still available for the 10 year period).
Ecuador civil litigation statute of limitations is a law that time limits a plaintiff’s right to bring a claim against a defendant. The statute of limitations in Ecuador is 3-10 years. However, if an action has been taken within this time then the statute of limitations time will be extended to account for this. Once the specified time period elapses then no action can be taken through the legal processes unless the plaintiff is able to prove exceptional circumstances. Other Statute of Limitations include:
Ecuador Promissory Notes – 3 years
Ecuador Written Contracts – 3 years
Ecuador Oral Agreements – 3 years
How EU (European Union) laws effect debt collection in Ecuador?
How many companies registries in Ecuador for businesses (i.e. UK has just 1 central registry)?
The Superintendence of Companies, Values and Insurance, and the Superintendence of Banking.
There is 1 company registry in Ecuador which is called Superintendency of Companies located at the following address:
Matriz: Guayaquil, Centro Financiero Público 9 de Octubre 200 y Pichincha 14° piso.
Quito: Calle Roca 660 y Amazonas
Machala: Av. 25 de Junio 523 entre Buena Vista y Colon
Loja: Av. Emiliano Ortega, Pasaje A entre Imbabura y Colon
Portoviejo: Av. Universitaria y Av. Emilio Macias
Ambato: Av. de las Americas entre Cuba y Nicaragua
Cuenca: Manuel J. Calle 3-123 y Av. Estadio
We have access to Ecuador Company Registry searches to find out who further background information on all Ecuador companies.
What is the debt collection process in Ecuador?
Start with extrajudicial efforts, if a payment plan is proposed and accepted have it signed before a Mediator, so that it acts as a last judicial instance, and thus, executable, sentence. If the agreement is not complied with, or no payment plan is offered, a judicial process (execution or first instance) needs be filed in order to attempt to collect.
Average length of time to collect a debt?
With mediation, 1 month and depending on the payment plan; or, if a first instance judicial process approx 1 year (with further appeals to Provincial and then National Coursts ~ approx. 4+ years); or if within a mediation minutes execution process, approx. 2 months for the payment order, or 5+ for insolvency, etc. The average time taken to recover a Ecuador B2B debt collection case varies from case to case.
Can late payment fees / interest to be added to claims?
.Yes, whatever was agreed as penalty in the contract, and/or Ecuadorian maximum legal interest (currently around 9% yearly).
Details on legal service / process in Ecuador?
It is slow and uncertain, thus, usually advisable to accept a lengthy payment plan with an acceleration clause before a Mediation Centre
Ecuador Business Credit Reports
Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. We provide freshly investigated Ecuador Credit Reports which can be done prior to trading to make sure the company you will be dealing with can meet the commitment or once the debt becomes overdue to ensure the debtor can meet the amount owed.
Creditreform’s debt collection company service also uses expert local Ecuador tracing agent services to locate any absconded debtor. This debtor tracing service is provided on a No Find No Fee basis only charging for a successful trace.
Specialist Debt Recovery Experts
There are many unique requirements to recovering international debts in all countries including Ecuador 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 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.
Ecuador Debt Collection Partners in the following Ecuadorian Cities
Which countries border Ecuador?
Who are the main trading partners for Ecuador?
What is the legal system in Ecuador?
What is the name of the Government Gazette in Ecuador?
The Gazette in Ecuador is called the Registro Oficial - Registro Oficial.
What is the Supreme Court in Ecuador?
The Supreme Court in Ecuador is called The Constitutional Court of Ecuador (Corte Constitucional del Ecuador).
Ecuador Debt Collection Agency FAQs
1. How does a Debt collection agency in Ecuador recover overdue debts?
The debt collection process is initiated by an introductory letter to your debtor stating the amount owed to you and informing them of our involvement. Letters are then followed up with emails and telephone calls. From our experience the most effective part of this process will be the outsourcing to a third party debt collection agency in Ecuador as the debtor now has to resolve the debt and can no longer hide or provide lame excuses.
2. How long does the debt recovery agency in Ecuador take to process a case?
The debt collection case will be processed immediately up receipt and a letter sent normally by email and post. You will receive an automated confirmation by return.
3. What is the success rate for debt collection agencies in Ecuador?
The success rate of the debt recovery case depends on a number of factors including the solvency of the debtor and whether the case has a legitimate dispute. Our aim is to recover every debt that is recoverable.
4. Does the debt recovery agency in Ecuador operate a No Win No Fee debt collection?
We take on all debt collection cases on No Win No Fee basis only charging the agreed commission against monies recovered.
5. Why use a local debt recovery agency in Ecuador?
The reasons for using a local Ecuador debt collection agency than processing from a different country is the debt collector in Ecuador speaks the local language, knows the local laws and operates in the same time zones.
6. Are there any debts too old or too small for Ecuador debt collection?
We will assess all debt cases, irrelevant of age and size and then advise the best processes to recover these through the Ecuador debt collector.
7. How do I instruct the debt collectors in Ecuador?
Instructing the debt collectors Ecuador is a simple process. You just email details of the debt, debtor and amount to be recovered and the case can be initiated.
8. What evidence do I need to provide when instructing the Ecuador debt collector?
When instructing the debt collector in Ecuador just provide copies of invoices/statements, debtor contact details and any relevant information you may have to assist with the recovery process.
9. Who does the debtor pay?
In general, the debt collector in Ecuador will request payments to be sent directly to the client but if not possible for any reasons will take payment directly. If payment is taken then cleared funds will be processed and sent to client straight away.
10. Can I instruct multiple cases?
You can send unlimited debt case instructions. Our systems will automate volume cases to meet your requirements.
11. Can you trace debtors in Ecuador?
Through our network of skip tracing agents we have an extremely high success rate of locating your absconded debtor.
12. How long does the debt collection process take?
On average the debt collections process takes 90 days to resolve an amicable debt recovery case. There are a number of factors that can delay this process but we will keep you informed every step of the way.
13. What are my options if debt collection in Ecuador is not successful?
If the debt recovery service is not successful we will advise you of your options including legal actions. Please note no legal actions or other processes will be taken without prior instruction from you.