1. Costs - No Win No Fee! 

Having long standing relationships with all our overseas partners we have agreements to provide these services on a NO WIN NO FEE basis charging the agreed commission rate against monies recovered only. 

2. Coverage in Faroe Islands 

Faroe Islands is an autonomous province of the Kingdom of Denmark. Debt collection cases for Faroe Islands are handled by our Denmark partner whose head office is in Brøndby (near the capital Copenhagen). 

3. Local Experience 

Unlike many of our competitors all cases are handled by the local office or partner. The reasons for this are they speak the debtors' language in this case Faroese is spoken by 90% of the population. We understand the local cultures and know all the legal processes. These are reasons why Creditreform are the ideal people to help you in collecting debts from overseas. 

4. Statute of Limitation in Faroe Islands 

3 years but there are many special exemptions so whatever the age please contact us and we will advise if we can assist with your claim 
Search a country below for debt collection: 

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: 

Faroe Islands 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 a debt collection agency UK are as follows: 
The local International Debt collection Partners know: 
Faroe Islands Debt collection partner is based in Denmark with the head office in Brøndby (Headquarter) 
All debt collection letters are sent by the local head office. 
Herewith details of our debt collection service Faroe Islands: 

Location of debt recovery office in Faroe Islands? 

Faroe Islands Debt collection partner is based in Denmark with the head office in Brøndby (Headquarter). 
All debt collection letters are sent by the local head office. 

Number of debt collection staff? 

Approx. 150 in Denmark. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response result s from debtors. 

How long have you been operating a debt recovery service in Faroe Islands? 

We have been operating a European debt collection service on a no win no fee basis in Faroe Islands for over 20 years. Faroe Islands is included on our debt collection agency list

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 Faroe Islands? 

3 years from due date. 
Faroe Islands 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 Faroe Islands is 3 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. 

How EU (European Union) laws effect debt collection in Faroe Islands? 

Most EU laws does not affect the Faroe Islands  as we are a fairly open country. One law that can be applied around the EU is the European Account Preservation Order which does not apply in Faroe Islands. 
Faroe Islands signed a free trade agreement (FTA) with the European Union (EU) in 1996 and this has been enforced since 1997. Faroe Islands as an autonomous entity of Denmark which is an EU member but Faroe Islands is not part of EU as they are a self governing nation within the Kingdom of Denmark. 
Faroe Islands are not part of European Union and this been the situation since Denmark joined the EU in 1973. The Faroe Islands are not part of the Schengen Area. However, the islands are part of the Nordic Passport Union and the Schengen Agreement provides that travellers passing between the islands and the Schengen Area are not to be treated as passing the external frontier of the Area. 

How many companies registries in Faroe Islands for businesses (i.e. UK has just 1 central registry)? 

There is 1 company registry in Faroe Islands which is called Skálatrøð 20, Postrúm 64, FO-110 Tórshavn. 
We have access to Faroe Islands Company Registry searches to find out who further background information on all Faroe Islands companies. 

What is the debt collection process in Faroe Islands? 

As the debt collection process in the Faroe Islands is operated by the Danish Partner the procedures are much the same as Denmark

Average length of time to collect a debt? 

The average time taken to recover a Faroe Islands B2B debt collection case varies from case to case but typically takes 3-6 months for Faroe Islands. 

Can late payment fees / interest to be added to claims? 

Yes, fees can be added for Faroe Islands debt collection cases according to local law. 

Details on legal service / process in Faroe Islands? 

The legal system is operated in a similar way to Denmark

Faroe Islands 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 Faroe Islands 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. 

Faroe Islands Skip Tracing Agents 

Creditreform’s debt collection company service also uses expert local Faroe Islands skip 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 Faroe Islands 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 office base 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. 

Sister Cities for Debt Collection in Fuglafjørður 

Fuglafjørður is a city located in Europe whose sister cities are: 
Húsavík, Iceland 
Ilulissat, Greenland 
Selfoss, Iceland 

Sister Cities for Debt Collection in Klaksvík 

Klaksvík is a city located in Faroe Islands whose sister cities are: 
Kópavogur, Iceland 
Norrköping, Sweden 
Wick, Highland, Scotland 

Sister Cities for Debt Collection in Tórshavn 

Tórshavn is a city located in Europe whose sister cities are: 
Asker, Norway 
Birkerød, Denmark 
Eslöv, Sweden 
Garðabær, Iceland 
Jakobstad, Finland 
Mariehamn, Aland Islands 
Ólafsvík, Iceland 

Which countries border Faroe Islands? 

Faroe Islands is an islands nation with the clostes countries being Norway: 590 kilometres, Ireland: 670 kilometres, Denmark: 990 kilometres. 

Who are the main trading partners for Faroe Islands? 

The main export markets for Faroe Islands are Russia (29% of exports), USA, the UK and Germany (9% each), Denmark (6%), Norway, China and Netherlands (5% each), and France (3%). 

What is the name of the Government Gazette in Faroe Islands? 

The Gazette in Faroe Islands is called the Announce Gazette - Kunngerðablaðið. 

Faroe Islands Debt Collection Agency FAQs 

1. How does a Debt collection agency in Faroe Islands 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 Faroe Islands 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 Faroe Islands 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 Faroe Islands? 

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 Faroe Islands 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 Faroe Islands? 

The reasons for using a local Faroe Islands debt collection agency than processing from a different country is the debt collector in Faroe Islands 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 Faroe Islands debt collection? 

We will assess all debt cases, irrelevant of age and size and then advise the best processes to recover these through the Faroe Islands debt collector. 

7. How do I instruct the debt collectors in Faroe Islands? 

Instructing the debt collectors Faroe Islands 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 Faroe Islands debt collector? 

When instructing the debt collector in Faroe Islands 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 Faroe Islands 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 Faroe Islands? 

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 Faroe Islands 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. 
Our site uses cookies. For more information, see our cookie policy. Accept cookies and close
Reject cookies Manage settings