DEBT COLLECTION
DEBT COLLECTION
IN LITHUANIA
IN LITHUANIA
Embedded Files
✔ Debt collection in Lithuania from legal entities costs between 3% and 20% of the amount recovered. The final price is determined after assessing the debtor's ability to pay, taking into account the debt amount, its age, and the complexity of the recovery process.
MB "Skola ir Teisė" offers a comprehensive credit management service package that includes credit risk assessment, preventive measures, debt administration and collection, as well as legal supervision services.
Our specialists provide valuable consultation to businesses, offering insights into their clients' creditworthiness, tax and/or credit history, and recommend the most effective legal protection methods. We guarantee the recovery of 100% of debts from financially capable individuals. In cases where the debtor is determined to be insolvent, we issue a certificate of insolvency, enabling the recovery of paid taxes.
Debt collection is carried out in two stages:
Pre-litigation Debt Collection
We aim to secure debt repayment through mutual agreement during negotiations.
We establish a payment plan acceptable to both parties.
We implement effective communication strategies to ensure voluntary debt repayment.
Litigation Debt Collection
If negotiations are unsuccessful, we initiate court proceedings to confirm the debt.
To save time and resources, we prioritize the simplified court process.
If necessary, we file a lawsuit or initiate bankruptcy proceedings.
Following the court process, we take enforcement actions, ensuring the debtor’s assets are seized.
✔ Debt collection from individuals costs between 15% and 20% of the recovered debt amount.
Before initiating debt recovery for an individual, a notification about the intended debt transfer must be sent to the debtor.
A mandatory notification for the debtor (individual) must be provided at least 30 days before the debt is transferred to a third party. The notice should include the basis of the debt, the amount, the repayment term, and the contact information of the debt collection service provider. It is recommended to send the information via email with a confirmation. You can use our template for sending the letter.
If the debt arises from an employment relationship due to unpaid wages, the recovery process is different. We invite you to read the article: How to Recover Unpaid Wages?
Page updated
Google Sites
Report abuse