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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 Hungary 

Hungary is divided into 16 counties and the capital city Budapest. Our local office is in Budapest so we are centrally located to recover debts throughout all of Hungary. 

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 Hungarian is spoken by 99.6% 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 Hungary 

5 years but there are 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) 
PLEASE CALL US ON +44 121 442 5330 FOR FURTHER DETAILS 
Or ask us to call you – just leave us your details: 

Hungary 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: 
 
The local cultures 
The best methods of initiating debt recovery letters and processes 
The languages 
The laws 
Are in the same time zones 
 
Herewith details of our debt collection service Hungary: 

Location of debt recovery office in Hungary? 

Budapest. All debt collection letters are sent by the local head office. 

Number of debt collection staff? 

10staff. 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 Hungary? 

Since 1990 

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 Hungary? 

General limitation is 5 years 

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

Although there are many European legislations, we can work with our national laws. 

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

1 registry in Hungary 

What is the debt collection process in Hungary? 

We first send a debt recovery letter/mail. In B2C we send also a registered letter. After 10 days we send a second debt collection letter, a warning that the file will be transferred to the lawyer. Then we try a phone conversation. Our in-house lawyer send a last debt recovery letter, again after 10 days. We try to settle/close in 1 month. 

Average length of time to collect a debt? 

3-6 months 

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

Yes late payment fees can be added. 

Details on legal service / process in Hungary? 

Our lawyers work under the same conditions. The costs for the bailiff have to be paid in advance. They are added to the claim and have to be settled by the debtor. 
 
We have an own software-system that allows us to cover big quantities of files. They are processed the same day. Our clients receive also a login so they can check the status of their files whenever they want. They are always updated on the same day. 

Hungary Business Credit Reports 

Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. Total businesses registered in Hungary is in around 550,000. Through our online databases you can download Hungary credit reports instantly. This 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. 

Hungary Tracing Agents 

Creditreform’s debt collection company service also uses expert local Hungary 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 Hungary 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 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. 

Hungary Debt Collection Partners in the following Hungarian Cities 

 
 
 
"We are pleased with the friendly and efficient service of Adrian Harding and staff at Creditreform in collecting outstanding overdue debts on our behalf. Some accounts, especially those located overseas have been difficult customers but we are pleased with the high rate of success. We also appreciate that they keep us informed and constantly updated on the progress of the collection" 
Bryan De Beer, Phoenix Fragrances 
 
 
 
Resources 
Understanding a Winding-Up Petition 
When a creditor files a legal notice in the court to wind up a company… 
Payment Priority During a Liquidation Procedure 
In a liquidation process, all creditors have to provide a proof of debt form to… 
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