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 Panama 

Panama is divided into 10 provinces bordering Costa Rica and Colombia. Our local office is in the capital and most populous city Panama City meaning we are centrally located to recover debts throughout all of Panama. 

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 the case of Panama the most widely spoken is Spanish as well as many indigenous languages. These are reasons why Creditreform are the ideal people to help you in collecting debts from overseas. 

4. Statute of Limitation in Panama 

7 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) 
Or ask us to call you – just leave us your details: 

Panama 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 Panama: 

Location of debt recovery office in Panama? 

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

Number of debt collection staff? 

18 people make up our team. 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 Panama? 

We have over 5 years of operating in Panama and our customers can attest to our effectiveness. 
We have been operating a Central America debt collection service on a no win no fee basis in Panama for over 5 years. Panama 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
From debts of contractual, extra-contractual origins, private or governmental; to loans between people. As long as the origin is lawful, we make the collection. 

Statue of Limitation in Panama? 

Statute of Limitation is 7 years in Panama. 
Panama 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 Panama is 7 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 Panama? 

Since, our activity is carried out within Panama, where we are also located, the legislation of other countries does not affect us in the course of our business, since the country is sovereign and the law that applies is domestic. 
Panama 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, Nicaragua and El Salvador

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

There is 1 company registry in Panama which is called Public Registry of Panama located at Vía España, Panamá, Panama. 
We have access to Panama Company Registry searches to find out who further background information on all Panama companies. 

What is the debt collection process in Panama? 

Initially, we kindly contacted the debtors urging them to pay the debt in the least possible amount of payments. If the approaches are unsuccessful, we evaluate together with the client the convenience of engaging in the corresponding legal process. 

Average length of time to collect a debt? 

The average time taken to recover a Panama B2B debt collection case varies from case to case. Once the case is assigned, we carry out a brief patrimonial investigation of the debtors and, within a maximum period of 30 days, we must have obtained a result of the collection management. 

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

Late charges and, interest, as long as they are not contrary to the law can be demanded. 

Details on legal service / process in Panama? 

Legal services in Panama are provided solely and exclusively by qualified lawyers or law societies. The civil jurisdiction is eminently formalistic and follows the Spanish model. 

Panama 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 Panama 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. 

Panama Skip Tracing Agents 

Creditreform’s debt collection company service also uses expert local Panama 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 Panama 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 Panama? 

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

Which countries border Panama? 

Libya is located in in Central America which is bordered by Colombia and Costa Rica

Sister Cities for Debt Collection in Colón 

Colón is a city located in Central America whose sister cities are: 
Mandeville, Louisiana 

Sister Cities for Debt Collection in Panama City 

Panama City is a city located in Central America whose sister cities are: 

What is the Supreme Court in Panama? 

Supreme Court of Justice (Panama) consists of nine magistrates and nine alternates, appointed by the president for a period of 10 year. The Appellate Courts of Panama (Tribunal Superior) are territorially divided into 4 judicial districts. 
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