Debt Collection in Norway
Debt Collection in Norway
For a lot of UK businesses, it may seem like it is impossible to recover a debt from someone in another country. Factors such as foreign laws, the language barrier and even more unknowns all make it seem extremely complex.
Many businesses have tried to collect a debt themselves in the past. However, this often takes a lot of time, effort and money, and the outcome is always in question. Unfortunately, this leads to many businesses writing off their debts.
This should never happen, and there is always a solution for any debt recovery task. For instance, the services of a professional debt collection agency are widely regarded as the best option. A professional debt collector will possess the expertise and skills that are required to enforce debts.
As well as this, specialist international debt collection agencies exist that excel in enforcing debts in foreign countries. For example, Federal Management is an expert with international debt collections. Our global network of trusted debt collection partners ensures that we have the foremost knowledge of any nation’s laws and rules regarding recovering owed money.
Many of the UK’s businesses export their products to locations across Europe, with Norway being one of the most popular trading partners. However, as with any other business endeavour, there will always be issues with payment.
Are you owed money from a business in Norway? If so, Federal Management’s team of expert international debt collection agents can help. For all matters relating to debt collecting in Norway, we provide the most effective service.
Debt Collection in Norway – Factors to Consider
When looking at any debt collection process, it is important that every factor is prepared for and resolved in advance. For example, a debtor will most likely challenge the enforcer, asking for evidence that the debt exists. Having all of the documents related to the agreement, such as invoices, to hand can help.
For debt collection in Norway, as well as any other international debt recovery case, more factors must be considered. As mentioned, there are elements such as the native language and cultural considerations that need to be observed. As well as this, it is crucial to possess knowledge of the local laws the country has regarding debt recovery.
For example, in Norway, the statute of limitation is 3 years. However, there are certain special exceptions to this that occur occasionally. For the greatest chance of a successful recovery, knowledge of laws such as this must be known.
Federal Management’s team of international debt collection experts have the most up to date experience with overseas debt recovery.
Enforcing Debt Collection in Norway
There are many ways that businesses try to encourage clients to pay their fees on time. Some may send non-paying client payment reminders. Others may charge late payment fees, with a small interest rate being applied to invoices that are late.
Despite these methods, a debtor that is determined to withhold payment will simply ignore any consequences. Debtors based overseas often believe themselves immune from any fallout. This is not true, and fees must always be paid for goods and services that have been provided.
Whilst any business’s credit control team can take steps to chase owed money, a professional debt collection agency is the most effective option. Federal Management provides a low cost, fully comprehensive service that takes every factor into account.
As well as providing an international debt collection service, we are regarded as the UK’s leading commercial debt recovery specialist. This makes us an ideal choice for any business in need of debt enforcement.
Debt Collection in Norway – The Best Solution
Norway is one of the UK’s biggest trading partners. An estimated $5.17 billion worth of exports was done in 2020, which was amongst the top 15 countries the UK exported to. Unfortunately, there will always be a margin for debt to occur with trade levels as high as this. UK companies have recognised that there is a growing need for an effective solution.
Instructing a debt collection agency like Federal Management is the most beneficial when owed money from a non-paying client.
If you need help with debt collection in Norway, speak to one of our friendly experts now.