debt collection in estonia

DEBT COLLECTION IN ESTONIA

A presentation brought to you by LawyersEstonia.com

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The Debt Collection Procedure in Estonia

• The most popular way of collecting debt in Estonia is by filling motions in the Estonian Courts.

• Usually, the process of debt collection in Estonia is divided into two stages: the pre-trial proceedings and the legal phase.

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The Pre-Trial Proceedings in Estonia >>

• Pre-trial proceedings represent the first step for recovering a debt in Estonia.

• These consist in verification of the debt, gathering information on the debtor’s financial situation with the Trade Register and tracking his address and phone number.

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>> The Pre-Trial Proceedings in Estonia

• After these proceedings, the debtor will receive notifications about his debt.

• In case the debtor will not answer to any of the notifications, a letter to the Trade Register will be sent and the debtor will be taken to court in order to recover the debt.

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The Legal Phase in Estonia >>

• A lawsuit’s statute of limitation in debt collection expires after three years.

• The Estonian judicial system is composed of three instances, the highest of them all being the Supreme Court.

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>> The Legal Phase in Estonia

• To be represented in the Supreme Court, a debtor will need a lawyer and will also be required to pay a state tax.

• Our attorneys in Estonia can provide you with this kind of services and legal assistance throughout the entire process.

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Filling Actions in Courts in Estonia >>

• If the debtor and the bailiff give their consent, the court can judge the matter without hearing it first in court.

• In this case the court will decide upon a term for the participants to gather and submit petitions and documents for making the judgment public. 

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>> Filling Actions in Courts in Estonia

• If the legal process was conducted outside Estonia by a competent court, the Estonian court will accept the ruling provided by the foreign court within a reasonable period of time.

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Another Debt Collection Possibility in Estonia

• Another debt collection method in Estonia is the court’s expedited procedure in matters of payment orders.

• A claim directed at the payment of a certain amount of money will be judged by the court.

• However, these procedures must be applied to claims with amounts of over 6 400 euros.  

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The Bankruptcy Procedure in Estonia

• In case of bankruptcy, an analysis of the debtor’s responsibilities and assets will be made.

• The client has to pay a state fee and a deposit to cover temporarily the trustee salaries before filing the bankruptcy petition.

• The bankruptcy procedure in Estonia will usually take between 2 and 3 years.

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Legal Assistance in Estonia

• When dealing with debt recovery in Estonia, it is recommended to use the help of a law firm, which can provide you with legal advice on the matter.

• For assistance with the issues related to debt collection procedures in Estonia, you may contact our Estonian lawyers.

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Please contact us for more information at:

  (+357)22 030 228

office@lawyersestonia.com

http://www.lawyersestonia.com/

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