Do you have any outstanding credit collection in Denmark? Rely on Invenium!
Regard to credit collection in Denmark, it is common practice to follow an out-of-court credit collection strategy with a complying letter. The claim is written by a local lawyer and intimates a requesting payment within 10 days.
If the latter responds to the formal notice to comply and requests additional time to pay or payment in instalments, a settlement agreement is signed with enforcement effect in the event of failure to pay.
If the first credit collection action fails, legal proceedings are undertaken. Below 100,000 Danish Crowns (€13,500) the best practice is a simplified procedure, a sort of payment injunction. After the payment injunction, the debtor has 14 days to pay, otherwise, the consequences must follow the local law.
For amounts over 1 million Danish Crowns (equal to €133,000) application are submitted to the Court of First Instance, instead of the local court.
After the payment injunction, the debtor has 14 days to pay, otherwise, the action becomes an executive process. Form that moment, the executive process lasts 10 years.
If the debtor cannot immediately pay the amount, the judge is likely to require the contenders to make a deal to divide the credit into instalments. To have a deal, the period of time must be included in 10month and a confiscation order can follow the agreement.
If you have outstanding credit collection in Denmark the best option is to rely on a company focused on international credit collection as Invenium. For over 11 years we work in the Scandinavian country with a local collaborator. From 2 years we have a success rate of 74% on the recovery of credits in Denmark.