How do I recover debt on Iceland?

Do you find it hard to collect debt on Iceland? Do you have a customer on Iceland that doesn’t pay his bills? Don’t worry, there are companies that can help you recover debt on Iceland. To hire a debt collection agency on Iceland often leads to a better result than if you try to collect the debt yourself. This is because the debt collection agency on Iceland has the right experience and knowledge to collect debt efficiently on Iceland, but also by having a debt collection agency contact the debtor indicates that the situation is getting more serious.

Selecting an effective debt collection agency on Iceland

How well you will succeed with debt collection on Iceland depends on if you find the right debt collection bureau to work with. Since Iceland is a small market, it can be hard to find the right debt collector to work with. A good advice is to use ECA, European Collectors Association, whose member companies are leading debt collectors in its country. In Iceland, two law firms are members of ECA: Lögmenn Thorsplani, and G. Jónsson & Partners.

Debt collection in Iceland

Debt collection agencies in Iceland operate in a way that is similar to that in Sweden, Norway, Finland and Denmark. The debt collection process in Iceland begins when the debt collection agency sends a summons to pay to the debtor as soon as they have received the case. After about a week, the debt collection agency sends a reminder letter to the debtor if he still has not paid and has not contacted the collection agency. If the customer still doesn’t pay, the collection agency tries to contact him by phone. If that fails to give any result, the debt collection agency makes an assessment if there is any point in taking legal action against the debtor. When collecting debt in Iceland, it is important to be aware of the high costs surrounding legal collection. A collection agency has the experience and competence to make this assessment.