DEBT COLLECTION IN LUXEMBOURG

B2B debt collection in Luxembourg has a number of features like in any other European country. First of all, this country differs from others in a strictly regulated procedure for carrying out actions to collect debts. In addition, a law practice allows particularly evasive debtors to resort to legal action to delay the payment.

However, Luxembourg is one of the main financial and credit centers in Europe. In addition, there is a large number of headquarters of the largest European corporations in the country. These factors make debt portfolio management in Luxembourg beneficial for law companies with expertise and solid experience.

Our agency provides a full range of debt collection services in Luxembourg. We are experts in debt portfolio management and are able to handle a large portfolio of cases. Our team of lawyers always conduct negotiations directly with the owners of the debtor's company and always demand the repayment of the whole outstanding amount as soon as possible.

You may also order site-visits to the debtor's premises in each case to check the presence of the company and to obtain additional information that could be helpful in our collection efforts. Also, we have access to the informational resources about legal entities and export-import databases, which gives an additional advantage in negotiations with the debtor's owners.

There are many reasons why creditors do not engage in debt collection on their own, but entrust the debt portfolio to the professional lawyers and teams of CIS DRS specializing in recovery of money worldwide. Of course, knowledge of the local laws and the language of the debtor are the main reasons. However, there are a number of other details that creditors take into account when deciding to entrust the portfolio to our team.

Firstly, because of the knowledge of the features of the economy and political situation of the country in which the debtor is located. Secondly, due to a deep understanding of the cultural and social characteristics of the location of the debtor. Thirdly, due to more than 10 years of experience in daily negotiations, hundreds of arguments and tactics to persuade debtors and an automated system that allows lawyers to be as effective as possible with every action.

First of all, we advise you to study in detail and remember all the details regarding the commercial transaction and trade documents. In addition, it is very important to study the debtor's company: legal status, board of founders, statutory capital, affiliated companies and counterparties of the company. Be sure to consider your tactic and write a list of possible negotiation arguments.

However, our main recommendation on how to convince the debtor to fulfill their obligations is to fill out the feedback form on our website and entrust the debt collection to the CIS DRS team. Our lawyers will analyze the basic information about the debtor, study trade documents and provide you with our proposal for cooperation.