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 Nicaragua 

We cover all 15 departments in Nicaragua. Our local office is in the capital Managua so we are centrally located to recover debts throughout all of Nicaragua. 

3. Local Experience 

Unlike many of our competitors all cases are handled by the local office or partner. The main language spoken is Spanish, but the colloquial language can differ through different regions of Nicaragua. In addition, multiple indigenous languages are spoken. The local offices are able to communicate with the debtors in their appropriate language. We also 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 Nicaragua 

4 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: 

Nicaragua 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 initial 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 
The languages 
The laws 
Are in the same time zones 
Herewith details of our debt collection service Nicaragua: 

Location of debt recovery office in Nicaragua? 

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

Number of debt collection staff? 

3-5 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 Nicaragua? 

We have been operating a Central America debt collection service on a no win no fee basis in El Salvador for over 10 years. El Salvador 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 Nicaragua? 

4-10 years in Nicargua. 
Nicaragua 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 Nicaragua is 4-10 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: 
Nicaragua Open Account Years – 10 years 
Nicaragua Promissory Notes – 10 years 
Nicaragua Written Contracts – 10 years 
Nicaragua Oral Agreements – 10 years 

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

EU laws could be raised as a defense in any debt collection case in the Nicaragua, if the debt was created subject to those laws. 
Nicaragua is in discussions over a free trade agreement (FTA) as part of several Central America countries together with the European Union (EU) which was signed in 2012 and several parties have provisionally applied in 2013. This is referred to as an Association Agreement (AA) which is a treaty between the European Union (EU) member states and non-EU countries. The other Central America countries included are Costa Rica, Guatemala, Honduras, Panama and El Salvador

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

There is 1 company registry in Nicaragua which is called Ministry of Development, Industry and Trade - Ministerio de Fomento, Industria y Comercio (MIFC) located at Km. 6 Carretera a Masaya. 
We have access to Nicaragua Company Registry searches to find out who further background information on all Nicaragua companies. 

What is the debt collection process in Nicaragua? 

Out of court settlement is the best method of debt collection in Nicaragua which is initiated with a debt recovery letter to the debtor. If not successful then Mediation is obligatory before proceeding with a court action. 

Average length of time to collect a debt? 

The average time taken to recover a El Salvador B2B debt collection case varies from case to case but can take up to 2 years in El Salvador. 

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

Unfortunately late payment interest is not enforceable for El Salvador debt collection cases. 

Details on legal service / process in Nicaragua? 

Previous to starting a lawsuit process, the parties must start a mediation process as an alternative dispute resolution. There are no penalties, though, if the parties fail to achieve a settlement. 
All actions to demand payment of a debt are for ten years after the obligation is due. The limitation periods start once the obligation is due. 
The limitation payment is two years the obligation to demand payment of salary, professional fees, arbitrator’s fees and notaries’ fees. 
The plaintiff must sue the defendant in the court jurisdiction of his domicile. However, the parties may agree to submit their dispute in a specific jurisdiction. The court will review the matter of the case, value and territory in order to know if it is competent to know that case al solve the dispute.. 

Nicaragua 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 Nicaragua 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. 

Nicaragua Skip Tracing Agents 

Creditreform’s debt collection company service also uses expert local Nicaragua 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 Nicaragua debt collection services which differ from the UK debt collection agency  services 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. 

Who are the main trading partners for Nicaragua? 

The main import and export partner for Nicaragua are USA, China, Mexico and Guatemala

Which countries border Nicaragua? 

CNicaragua is located in Central America country which borders by Costa Rica and Honduras and it shares maritime borders with Colombia and El Salvador

Sister Cities for Debt Collection in Managua 

Managua is a city located in Central America whose sister cities are: 
Hialeah, Florida 

What is the Supreme Court in Nicaragua? 

The Supreme Court for Nicaragua is called The Supreme Court of Justice (Corte Suprema de Justicia, CSJ). 

Nicaragua Debt Collection Agency FAQs 

1. How does a Debt collection agency in Nicaragua 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 Nicaragua 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 Nicaragua 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 Nicaragua? 

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 Nicaragua 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 Nicaragua? 

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

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

7. How do I instruct the debt collectors in Nicaragua? 

Instructing the debt collectors Nicaragua 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 Nicaragua debt collector? 

When instructing the debt collector in Nicaragua 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 Nicaragua 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 Nicaragua? 

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 Nicaragua 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. 
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