Debt recovery in Greece

Debt collection in Greece is difficult indeed. The country and its economic activity have lost every ounce of financial credibility. Another factor complicating the matter is the different cultural background.

1. DEMANDING PAYMENT

A very efficient way of putting pressure on your Greek customer is by telephoning and by sending a letter of demand. By regularly contacting the customer, he or she will realize that you are determined to get your claim paid. However, if you do not get any kind of reaction from the opposing party, you can hand your claims over to Bierens Debt Recovery Lawyers for recovery.

2. HANDING OVER CLAIMS FOR COLLECTION

When you have a pending case against a Greek debtor and your efforts to settle the matter have failed, you can hand your claim over to Bierens Debt Recovery Lawyers. Bierens has a Greek section in its Amsterdam office. The firm’s employees are fluent in many European languages (including Greek ) and they are willing and able to help you with debt collection in Greece. Not only are they aware of the cultural and commercial differences, but they also have an excellent command of Greek and of the Greek laws and regulations.

3. DEALING WITH COLLECTIONS IN GREECE

A. Extrajudicial collections
During the extrajudicial stage, a letter of demand will be sent to the debtor by a Bierens lawyer. In this letter, a detailed analysis of the total amount outstanding (including the interest and all the additional costs) will be displayed. If we do not receive payment after our demand letters and several attempts by phone, then legal proceedings will be initiated.

Settlement
However, if initiating proceedings before the competent Court is likely to cost more time and money, an alternative method to have your claim satisfied is to try to agree with the opposing party on a settlement plan. Reaching the most beneficial arrangement will be achieved by means of a negotiating process.

B. Court-ordered collections
Obtaining a Court’s decision is an effective and forceful tool to use against your debtor. Depending on whether the claim is disputed or not, legal action can be initiated based either on European Legislation (via the European Order of Payment) or on national legislation (depending on rules of competency).

Attachment
If after obtaining the Court’s decision your debtor still does not pay, proceeding with the execution of the Court’s decision is the next step. Compulsory enforcement will take place by utilizing all possible enforcement measures against the debtor’s movable or immovable property.

Pre and post bankruptcy proceedings
Recently, a new Greek law called the Rehabilitation Procedure was introduced. Key elements of the post-bankruptcy proceedings are the re-organization of the business and its liquidation. The main goal of this new pre-bankruptcy stage is to rescue the company, restore its credibility, and reach an agreement with the creditors.

4. EXTRA

Greek enterprises are going through a really harsh and risky financial time. Showing patience and respect for their efforts is a good way to approach them and to have your matter resolved amicably.

5. MORE ADVICE ABOUT RECOVERY IN GREECE

Would you like further information from a Greek Lawyer about collections or bringing legal action in Greece? Please do not hesitate to contact our Greek team by sending an email to international@bierensgroup.com or call us at +31 20 312 11 00.

See also: Debt Collection in Greece on the website of Bierens Debt Recovery Lawyers.

Transfer claim

This website is about sharing knowledge. But if you have a claim to recover, you can go to the website of Bierens Debt Recovery Lawyers. For claims submitted by 4pm, a demand letter is sent the same day.

Transfer claim