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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:
Latvia 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 Latvia:
Location of debt recovery office in Latvia?
Riga. All debt collection letters are sent by the local head office.
Number of debt collection staff?
70 staff. 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 Latvia?
We have been operating a European debt collection service on a no win no fee basis in Latvia since 199. Latvia 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 Latvia?
10 years, if debtor or creditor has not received reminder about debt.
Latvia 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 Latvia is 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:
Latvia Open Account Years – 10 years
Latvia Promissory Notes – 10 years
Latvia Written Contracts – 10 years
Latvia Oral Agreements – 10 years
How EU (European Union) laws effect debt collection in Latvia?
General Data Protection Regulation (GDPR), THE CIVIL LAW, Law On Extrajudicial Recovery of Debt, Insolvency Law.
Latvia has been a European Union (EU) member country since 2004, Euro area member since 2014 and Schengen area member since 2007.
How many companies registries in Latvia for businesses (i.e. UK has just 1 central registry)?
There is 1 company registry in Latvia which is called The Register of Enterprises of the Republic of Latvia - Uzņēmumu reģistrs located at Pērses iela 2, Rīga, LV-1011, latvia.
We have access to Latvia Company Registry searches to find out who further background information on all Latvia companies.
What is the debt collection process in Latvia?
Debt recovery services:
Debt collection from private and legal persons (Inkasso);
Debt collection abroad;
Legal services for debt cases;
Creditreform debt recovery process includes:
debtor identification using information from LR Population Register and the Register of Enterprises of the Republic of Latvia;
reminder debt recovery letter system;
agreements of paying order;
when closing a case – recommendations for further actions (if needed);
regular results accounts.
Average length of time to collect a debt?
The average time taken to recover a Latvia B2B debt collection case varies from case to case but typically takes 3 months in Latvia.
Can late payment fees / interest to be added to claims?
Yes, fees can be added for Latvia debt collection cases according to local law.
Details on legal service / process in Latvia?
Creditreform legal services are a direct continuation of the collection process, where a debt is no longer recoverable with collection methods.
Latvia Business Credit Reports
Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. There are about 265,000 companies entered on the Latvian register. These include Private Limited Companies, Public Limited Companies, Sole Traders, Associations and Political Parties. Through our online databases you can download Latvian business 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 Latvia 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 Latvia 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 from Creditreform.
Latvia Debt Collection Partners in the following Latvian Cities
Which countries border Latvia?
Who are the main trading partners for Latvia?
What is the legal system in Latvia?
What is the name of the Government Gazette in Latvia?
The Gazette in Latvia is called the The Latvian Messenger - Latvijas Vēstnesis.
What is the Supreme Court in Latvia?
The Supreme Courts for Latvia are called
Constitutional Court of the Republic of Latvia (Latvijas Republikas Satversmes tiesa) was established in 1996.
The Supreme Court of the Republic of Latvia (Latvijas Republikas Augstākā tiesa)
Latvia Debt Collection Agency FAQs
1. How does a Debt collection agency in Angola 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 Latvia 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 Latvia 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 Latvia?
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 Latvia 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 Latvia?
The reasons for using a local Latvia debt collection agency than processing from a different country is the debt collector in Latvia 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 Latvia debt collection?
We will assess all debt cases, irrelevant of age and size and then advise the best processes to recover these through the Latvia debt collector.
7. How do I instruct the debt collectors in Latvia?
Instructing the debt collectors Latvia 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 Latvia debt collector?
When instructing the debt collector in Latvia 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 Latvia 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 Latvia?
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 Latvia 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.