Use a firm really located in Luxembourg for your debt recovery.


 

Debt is a huge operational problem for businesses with little time to spend chasing unpaid debts. And while many debt collection agencies promise the fast retrieval of monies owed, they cannot provide a business with the level of ongoing service that a local solicitor can.

As solicitors, based in Luxembourg, we will be on hand and familiar with your case and will comply with the local requirements even if the file becomes contentious.

This enable us to act for you immediately, without intermediate firms, giving you the confidence to carry on your business with minimal disruption.

 

Regarding the difficulties encountered in Luxembourg.

If the debtor is a natural person, the main difficulty is to gather informations on his financial situation, this requires the intervention of a judge who will allow requests to be sent to the social security in order to obtain the identity of the debtor's employers.

Concerning corporations, the procedure that helps obtaining the corporation's balance sheets is relatively fast and has to go through the commercial register.

Concerning the recommendations to provide

I suggest that for claims against companies, the decision to initiate a procedure, in the eventuality that the company is active, should be made quickly.

I draw your attention to the fact that it is always easier to collect debts from companies still in business over bankrupt ones.

The Limitations periods:

In trade : 10 years
In transportation : 1 year
In trader to non-trader : 1 year

Recommendations for files processing :

→ Invoices copies.
→ Purchase orders copies
→ Reminders copies including registered mail evidence if appropriate
→ Copies of the debtor's mails especially if the debt is acknowledge or disputed.