CREDIT COLLECTION IN ALBANIA

  • Presence and operations in Albania for over 7 years with a staff of one collaborator in Tirana

  • Out-of-court activities always carried out by specialised local lawyer

  • Possibility of sending order of payment electronically (very fast and effective)

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Do you have any outstanding credit collection in Albania? Rely on Invenium!

In Albania, unlike other countries, credit collections are mainly carried out by lawyers and not by agencies. As consequence lawyers are specialized in this field.

If deemed necessary, lawyers may resort to bailiffs to send a notice of payment to debtors, in order to increase the pressure on them. The activity is a mix of the bailiff’s activities and the lawyer’s activities.

If the debtor doesn’t carry out the payments, legal actions are taken according to the legal framework based on the Civil Code, Law No. 7850 dated 29.7.1994 and subsequent amendments. This specific law allows proceeding with the payment injunctions, as is the case for almost all European countries.

If the injunction cannot be used, for fear of the negative dispute result, legal process actions must be taken. Legal credit collection begins by submitting an application to the court of jurisdiction – through an order for payment (if not contested) or alternatively initiating legal proceedings.

On 24.04.2014, the Albanian parliament approved Law 48/2014 “For payment of contractual and commercial obligations”, which was partially aligned with Directive 2011/7/EU of the European Parliament “On combating late payment in commercial transactions”.

Until now, late payments were regulated by the provisions of the Civil Code, which were based on the principle of freedom of contract. The new law defines the rules for calculation of statutory interest for late payments in business transactions.

So, in summary, it can be said that in Albania is relatively simple to activate an out-of-court credit collection activity. The credit collection is usually carried out by local lawyers, without any helps from an intermediary. Rely on a credit collection agency like Invenium, your credit collection will be taken care by a specialized local expert. In this way the process will be better optimized.

DO YOU NEED MORE INFORMATION ABOUT THE ALBANIAN CREDIT COLLECTION?

Watch our video-analysis focused on the out-of-court credit collection in Albania. Credit to Dott. Claudio Mombelli & Invenium CEO & Founder

WHY INVENIUM?

For over 20 years a leader in Europe in international credit management and collection

Invenium cooperates in a network of partner specialized on the credit collection

With more than €70M of receivables managed and 3,000 international Clients, INVENIUM is leader in Europe

A group in constant growing to guarantee competence and results to its Clients

SOME OF OUR CLIENTS

DEBT COLLECTION AGENCY IN ITALY AND ABROAD: CHOOSING INVENIUM

Late payments cause lack of liquidity and additional financial and administrative costs. Advance payments increase your business.

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