Debt Collection in Latvia: Debt Recovery Procedure

Those interested in collecting debts in Latvia can opt for the legal services offered by our Latvian lawyers. Natural persons and companies can benefit from the legal assistance offered by our specialists. In the following lines, you can discover some useful information about the debt recovery process in Latvia.

Quick Facts
Who can contact our debt collection lawyers in Latvia?	Individuals and company representatives who want to recover their money from debtors.
Making a claim	With the help of our debt collection attorneys in Latvia
Legislation	Civil Procedure Law in Latvia, EU regulations
The first step in debt recovery	Written notices are sent to debtors, with information about payment arrears.
Amicable collection	Proposed in most cases instead of a costly lawsuit
Debt recovery in the court of law	If the amicable procedure is not an option
We can prepare cases for further legal actions (YES/NO)	YES
Negotiations	New payment terms can be established with the parties involved. Our Latvian lawyers can represent clients in this endeavor.
New payment schedule proposed	Possible
Is amicable procedure available in bankruptcy cases (YES/NO)	NO
The time frame to recover debts in Latvia	A few months, depending on the case
Customized approach	Each case is unique. Our debt collection lawyers in Latvia have experience in such cases.
International cases of debt collection	We represent Latvian clients who are involved in debt recovery cases.
No-win no fee-services	Clients only pay when the debt collection case is concluded.
Why work with our law firm in Latvia	We can manage the procedures of recovering debts and represent clients in such situations.

What is debt recovery, and when is it solicited/required in Latvia?

Debt collection is the process by which companies and/or individuals recover unpaid debts in Latvia.

What are the main routes to recover debts in Latvia?

amicable procedure that involves payment reminders, negotiations, and settlement agreements,
in the court of law,
bailiffs enforcement.

What types of debts can be recovered in Latvia?

unpaid invoices,
company debts,
credits/loans obligations,
utility payments,
tax-related claims, etc.

What are the stages of debt collection in Latvia?

first claim,
notifications of unpaid debts,
negotiations for new payment terms,
final payment.

NOTE: For a proper and fast debt recovery, it is recommended to hire a specialist, such as our Latvian lawyer.

We invite you to discover the following infographic on this subject:

How can I check the status of a debt collection claim in Latvia?

Our attorneys in Latvia will constantly communicate with the clients regarding the debt recovery case.

Can a lawyer in Latvia communicate with the debtor?

Absolutely! Whether via email, phone, message, etc.

Can foreign firms recover debts in Latvia?

Sure, these cases are frequent. Recovering debts as a foreign creditor is possible if the debtor has contracts with local providers in Latvia, is in Latvia, etc.

Can companies in Latvia collect debts from foreign clients?

Absolutely. Our debt collection lawyers in Latvia take into account court enforcement schemes and EU cross-border procedures.

Are voluntary debt recoveries in Latvia successful?

Yes, in the majority of cases. This way, court proceedings and a long process can be avoided.

What happens if a debtor in Latvia cannot pay after notifications or refuses to do so?

We will commence court proceedings to obtain a binding decision.

NOTE: Our Latvian debt collection lawyers will file a claim and solicit a payment order procedure.

Please check the following video presentation with details about the debt recovery process in Latvia:

What types of enforcement measures are available in a debt collection process in Latvia?

seizing assets, bank funds,
deducting the unpaid amount from existing income/salary, etc.

Can a debtor challenge a debt recovery claim in Latvia?

Yes, it’s possible to see whether the debts really exist or if the claimed amount is correct.

What happens after establishing the new payment terms?

Debtors are notified of the court’s decision and how it will be implemented.

Is it beneficial to hire a debt collection lawyer in Latvia instead of acting on my own?

Yes, and it is quite recommended. Our specialists in debt recovery in Latvia are familiar with applicable legislation and the stages of the recovery process. This way, the process can be fast.

Are there any precautions in debt collection cases in Latvia?

A debt collection process will also be conducted in accordance with recovery practices and consumer protection requirements, among others.

In addition to debt collection support in Latvia, our specialists can also help you with other issues. We offer legal assistance for immigration in Latvia. Moreover, those interested in residency in Latvia can opt for our legal services. This also applies to those interested in Latvian citizenship, who can contact us by phone or online.