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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:
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
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?
We have been operating a European debt collection service on a no win no fee basis in Hungary since 1990. Hungary 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 Hungary?
General limitation is 5 years
Hungary 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 Hungary is 5 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:
Hungary Open Account Years – 5 years
Hungary Promissory Notes – 5 years
Hungary Written Contracts – 5 years
Hungary Oral Agreements – 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.
Hungary has been a European Union (EU) member country since 2004 and Schengen area member since 2007.
How many companies registries in Hungary for businesses (i.e. UK has just 1 central registry)?
There is 1 company registry in Hungary which is called Ministry of Justice – Company Information and Electronic Company Registration Service located at 1055 Bp., Báthory u. 12., Hungary.
We have access to Hungary Company Registry searches to find out who further background information on all Hungary companies.
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?
The average time taken to recover a Hungary B2B debt collection case varies from case to case but typically takes 3-6 months in Hungary.
Can late payment fees / interest to be added to claims?
Yes, fees can be added for Hungary debt collection cases according to local law.
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.
Creditreform’s debt collection company service also uses expert local Hungary 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 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
What is the legal system in Hungary?
The Hungary legal system is based on Germanic, codified Roman law with elements from Napoleonic civil law.
What is the name of the Government Gazette in Hungary?
The Gazette in Hungary is called the Magyar Közlöny - Official Gazette of Hungary.
Which countries border Hungary?
Who are the main trading partners for Angola?
What is the Supreme Court in Hungary?
The Supreme Courts for Hungary are called
.Constitutional Court of Hungary - Magyarország Alkotmánybírósága which was established on 19th October .
Supreme Court of Hungary - The Curia of Hungary (Kúria) which was founded in 1949.
Hungary Debt Collection Agency FAQs
1. How does a Debt collection agency in Hungary 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 Hungary 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 Hungary 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 Hungary?
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 Hungary 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 Hungary?
The reasons for using a local Hungary debt collection agency than processing from a different country is the debt collector in Hungary 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 Hungary debt collection?
We will assess all debt cases, irrelevant of age and size and then advise the best processes to recover these through the Hungary debt collector.
7. How do I instruct the debt collectors in Hungary?
Instructing the debt collectors Hungary 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 Hungary debt collector?
When instructing the debt collector in Hungary 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 Hungary 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 Hungary?
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 Hungary 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.