Under different debt collection acts, both creditor and debtor have explicitly defined rights. Although there are world-wide acknowledged regulations, these acts differ between countries. In Spain commercial debt solicitors can perform both out-of-court and judicial proceedings for business-to-business recoveries, corporate debts and commercial debt collections.

New Debt Settlement Procedure for Entrepreneurs in Spain

The 14/2013 Law of September 27 to Support Entrepreneurs and Internationalization (the Entrepreneur Support Act) has initiated several different reforms. In the bankruptcy field, the quorum of financial creditors needed to obtain court approval of refinancing agreements is more flexible. On the other hand, regulations govern extrajudicial payments agreements as mechanisms of extrajudicial negotiation with […]

Indemnity for Recovery Costs

Article 8 of the Law 3/2004, of December 29, establishes measures against default in payments in commercial operations.  Similarly, Article 6.1 of the Directive 2011/7/UE of February 16, 2011 states, When the debtor enters in default, the creditor will have the right to apply to the debtor a fixed quantity of 40€ — added in […]

Debt Collection Proceedings in Spain under Civil Law and Employment Law

The current Spanish Code of Civil Procedure 1/2000 of date 7 January (CCP), articles 812 and subsequent, concerns debt collection proceedings in Spain. It describes the accelerated procedure through which the payment of a due and payable specified sum is claimed. The proceedings must be supported by the correct documents, such as invoices, delivery notes […]