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Debt Collection in Slovakia

Debt Collection in Slovakia

Updated on Wednesday 20th April 2016

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Debt Collection Procedure in Slovakia

In order to recover outstanding claims in Slovakia the creditors are facing the need of hiring a debt collection agency or a law firm specialized in these types of cases. Our Slovak lawyers are very familiarized with these cases and can take all the measures in order to recover those debts. The process of debt collection can be divided into the following phases: the amicable procedure and the legal one.

The amicable procedure for recovering a debt in Slovakia

The amicable procedure in Slovakia starts by notifing the debtor through the telephone and in writing that there is an outstanding liability issued on his name. In the notification are stipulated the name of the creditor and the address where the claim can be deposited and the consequences of not submiting it on time. Our lawyers in Slovakia have an extensive experience in debt recovery cases and can provide you with assistance during the entire debt collection procedure, from the amicable phase to the legal stage.

The legal procedure for collecting a debt in Slovakia

If the claim is not covered during the amicable stage then the legal procedure mai begin. Beside the ordinary court, the parties involved in the process can negotiate an arbitration clause. If not, the legal actions are handled by the District Court of the debtor.
 
In the first phase the documents necessary for the process are deposited at the court and consist in:
  • - an export from the Trade Register;
  • - copies of the overdue invoices;
  • - shipping documents signed by the indebted and a statement showing the current status of the accounts;
  • - the original power of attorney investing the lawyer to represent the creditor.
 
The legal dunning procedure can be applicable only if the monetary funds of the indebted can be found and if the judgment can be delivered in Slovakia. A legal dunning procedure in Slovakia usually takes around 3-6 months. An appeal can be raised against the initial decision but not later than 15 days after receiving the judgment. As a result, the legal dunning procedure is transformed into a regular lawsuit. Our law firm in Slovakia has a team of litigation solicitors that can represent clients in various cases.
 
The process of a regular lawsuit can be initiated after the amicable procedure or after the result of the legal dunning procedure are contested by the debtor. The judge will start by appointing a hearing where both sides are present and can defend their sides. The judge will take a decision and that decision is communicated in writing to the parties involved in the process.
 
It’s not advisable to reach this point, as the process may take up to 12 months depending on the complexity of the case and the availability of the judges and lawyers. Also the costs of this process are higher and in the first instance must be supported by the claimants. The usual court fees don’t exceed 6% of the disputed amount. The lawyer’s fees may vary from 3% to 6% from the outstanding liability.
 
For more information about the process of debt recovery in Slovakia or for a personalized offer please contact our team of local solicitors.

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