CIS DRS

DEBT COLLECTION IN LATVIA

Debt portfolio management & Debt collection in LATVIA
We recover your bad debts for the success fee.
The percentage of unreliable debtors continues to grow. This is due both to objective circumstances, such as a crisis, and to a specific mercantile debtor. As a result, a creditor accumulates toxic assets, which can lead to a cash gap.

CIS Debt Recovery Solution is a global international debt collection agency that provides commercial (also known as B2B) debt recovery services globally including Europe. If you are a creditor struggling to return money from a commercial debtor, our agency provides excellent debt collection services in Latvia that will help you to recover your outstanding debts.

The key feature of debt collection in Latvia is an expanded range of debtor's rights. Thus, it is crucial to involve a law firm that operates under Latvian law in the process of commercial debt collection. Most B2B debts in Latvia can be returned in a pre-trial way without any additional court expenses. Pre-trial recovery is applicable in almost any case, except for bankruptcy or liquidation of the debtor. Debt duration is a major factor as well since in Latvia the statute of limitations for claims is set at three years.

Debt collection services of CIS DRS in Latvia

If your contractual partner violated the agreement and did not pay the debt, you can always contact our law firm. We provide a full range of debt collection services in Latvia, including but not limited to: complex due diligence of the debtor; all types of correspondence with subsequent telephone calls and videoconferences, e-mail and personal meetings; preparation of legal notice / requirements / pre-trial claims, etc.

First of all, we start by providing the debtor with an official letter of warning claim as per the Civil Code of Latvia. We reach a peaceful settlement by negotiating with the debtor after by establishing the facts, identifying problems, assessing the debtor's motivation, developing repayment options, concluding an amicable commercial agreement with the debtor, and, finally, we carefully monitor the execution of settlements.

Our lawyers use all their knowledge of Latvian business rules and negotiation skills to reach an amicable agreement with the debtor. However, if pretrial collection turns out to be ineffective, we can assess the prospects for debt collection through the court. Thus, our lawyers will advise on the best legal solution for each specific debt case, and guide and support you in the further litigation process. We have partners in various countries of the world, and debt collection in Eastern Europe is our strong point.

Why should I choose CIS DRS for debt collection in Latvia?

CIS DRS is one of the TOP-100 leading law firms in the field of international alternative dispute resolution and debt restructuring. By cooperating with us you will receive a first-class team of lawyers with many years of experience and practice in the field of debt collection.

There is no need to worry concerning privacy, which is especially important in the European region. All your personal information and trade secrets will be kept secure as we comply with the General European Data Protection Regulation (GDPR).

You can also take advantage of our AI and Big Data IT platform and have direct access to all statistics on collection efforts and results. Last but not least, our prices are based on excellent client service. We work for results in amicable B2B debt collection and charge our clients according to the success fee model. You pay us only when you have received the result.
AT A GLANCE
Serving Clients in LATVIA for more than two decades
Debt Collection in LATVIA
  • analysis of trade documents in default
  • credit check of the debtor's company
  • strategy for peaceful settlement
  • drafting official demand letters
  • phone negotiations with debtor
  • personal negotiations with debtor
  • drafting restructuring plan
  • control of installment payment
Debt Management in LATVIA
  • portfolio analysis
  • control of payment terms
  • timely reminders
  • soft communication with clients
  • advisory regarding billing cycles
  • reminders via emails
  • receivables control
Litigation in LATVIA
  • legal review of trade documents
  • translation of the documents
  • drafting a Power of Attorney
  • making a strategy of litigation
  • drafting and filing law-suit
  • application for assets seizure
  • participation in court hearings
  • obtaining judgment for client
Arbitration in LATVIA
  • legal review of arbitration clause
  • translation of necessary documents
  • drafting a Power of Attorney
  • making a strategy for arbitration
  • drafting and filing law-suit with IAC
  • application for assets seizure
  • participation in arbitration hearings
  • obtaining arbitral award for client
Enforcement in LATVIA
  • analysis of judgment or arbitral award
  • making a strategy of enforcement
  • drafting application for enforcement to local court
  • participation in court's hearings
  • obtaining writ of enforcement
  • filing the writ to Bailiff's Service
  • control of execution work
Bankruptcy in LATVIA
  • filing creditors claims
  • representing clients in creditors committee meetings
  • bankruptcy process monitoring
  • liquidators communication
  • regular reporting to client
  • assets recovery

DEBT PORTFOLIO MANAGEMENT IN LATVIA

No Recovery-No Fee.
CLAIM PROCESSING
  • Verifying Debtor's Address
  • Checking Debtors' Status in Database
  • Brief Report to Client
  • Case Strategy Design
  • Confirmation Receipt
  • Claims Automation System
  • Case Processing Starts Immediately
NEW CLAIM
Our lawyers do their best to collect your credits
COLLECTION EFFORTS
1
2
3
3.1
  1. Get Proposal
  2. Forward for Client's Approval
  3. Collect Payment to Client
  4. CLOSE the File
Whether Debtor Responds Positively (if yes)
3.2
  1. Send In-house Demand Notice
  2. Whether Disputes (if yes)
  3. Get Proposal from Debtor
  4. Forward for Client's Approval
  5. Collect Payment to Client (if approved)
  6. Suggest Court Case If Worth (if no)
  7. CLOSE
Whether Responds Negatively (if no)
3.3
  1. Convince for Amicable Settlement
  2. Get Proposal
  3. Forward for Client's Approval
  4. Collect Payment to Client (if approved)
  5. CLOSE
Whether Disputes (if no)
4
You always receive reports regarding our efforts in time

  1. Current Status of Each Case
  2. Collection Efforts Our Lawyers Have Already Done
  3. What Should Be Done Further
  4. Expected Outcome Or Suggestion
REPORTING
NEED TO COLLECT YOUR DEBT?
WE CAN HELP YOU!

Just fill in the form and we will revert to you ASAP
FOR DEBT COLLECTION IN EUROPE:

TEL: +44-203-582-1943
EMAIL: europe@cisdrs.com

1 ROPEMAKER STR, LONDON,
EC2Y 9HT, UNITED KINGDOM

We work Monday to Friday, 9 AM - 6 PM (GMT)
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