Frequently Asked Questions
Debt Collection
What is a late payment?
Late payment constitutes a breach of contract which has been made financially attractive to debtors.
What are recovery costs?
The recovery costs should be automatic after the implementation of the Directive 2011/07/UE. Unless the debtor is not responsible for the delay, a creditor should be entitled to claim reasonable compensation from the debtor for all relevant recovery costs incurred as a result of late payment.
Why using a Law Firm?
Using a law firm or a lawyer can be the means for a creditor to outsource a task he or she does not wish to deal with, while it increases the chances of eventual payment.
What is an enforceable title?
An enforceable title is any decision, judgment or order for payment issued by a court or other competent authority, whether for immediate payment or payment by instalments, which permits the creditor to have his claim against the debtor collected by means of forced execution; it shall include a decision, judgment or order for payment that is provisionally enforceable and remains so even if the debtor appeals against it.
12-08-2011
LinksLate Payments in Commercial Transactions
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