Information related to the Collection of Debt in Romania


 

 

 

» Ordinance of Payment
This applies to claims which are certain, liquid and due liabilities consisting of money resulting from a civil contract, including those between a professional and a contracting authority, established in written form or determined according to a statute, regulation or other document, endorsed by the parties by signature or otherwise permitted by law.

 

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» Common Law
This is the basic, usual type of trial foreseen by the Romanian Law for the recuperation of debts. This method is considered slower that the Summons of Payment and it requires sending an official notification to the debtor and establishing a date and time for negotiations as a pre-trial step. There are certain timeframes to be taken into account when starting this type of trial.

 

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The Romanian Insolvency Procedure

The general insolvency procedure provided by the Romanian law applies to debtors who are insolvent or imminently insolvent. The procedure will begin with a petition filed in court by the debtor or by creditors, and any other persons or institutions mentioned by the law.

 

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Debt Collection through Common Law procedures

The procedure of recuperating a debt in Romania through Common Law procedures has changed due to the enforcement of the new Romanian Civil Code. Perhaps the most important change regards the notification procedure (the debtor had to firstly be notified before a creditor would have been able to sue) which is no longer a requirement for the Common Law procedure (with some exceptions per the express stipulation of the law). The Romanian Civil Code also brings some additional modifications to this method of recuperating a debt, respectively:

- Competence of Romanian Courts for the 1st phase of Courts;

- The Court activity will take place predominantly in the Council Chambers;

he Romanian debtor

 

must execute its obligation in the term stipulated by the parties in the contract or if such a term has not been foreseen, as soon as the obligation is assumed. If non-execution of the obligation occurs, the debtor is notified as “late payer” in certain conditions. The notification as “late payer” constitutes a manifestation of the creditor’s will through which the execution of the debtor’s obligation is requested. This can be done in the following manners:
- notification, the formation request (the summon addresses to the debtor);
- start of legal proceedings, through which the execution of the obligation is requested by Court action.


In the trials and requests of a commercial nature, evaluated in money, before the request to start Court proceedings, the claimant is obliged to try reconcilement with the other party (a special procedure). As a result, the claimant will convoke the other party communicating in writing its requests and their legal background, as well as all the documents on which these founded on. The Convocation will be done via Postal Mail (letter sent with a confirmation of receipt, through telegram, telex, fax or any means of communication insuring the transmittance of the document’s text and the confirmation of its arrival). The date set for the reconcilement meeting will not be any earlier than 15 days from the date the letter is received. The document attesting the result of the reconcilement procedure, or that the defendant has not attended the meeting, as well as the proof that from the date of the letter’s receipt a period of 30 days has passed, will be attached to the request for start of Court proceedings in Romania.
The obligation established through Court order must be fulfilled by good-will. If the Romanian debtor does execute its obligation by good-will, then the Court order will be fulfilled forcedly.

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DebtCollectionRomania.com has partners with numerous other debt collection agencies in Europe. If interested please read our article on how to recuperate debt from French companies.

  
  
 
 

» Who we are
Enescu & Cuc is a business law firm situated in Bucharest, Romania, specialized in commercial law and commercial litigation. Our Law Firm has represented a large number of foreign clients requiring professional debt collection services in Romania. We have offered assistance for individual cases exceeding 3 mil. USD. 
We handle:
Initial verifications of debtor

Pre-trial Debt Collection Proceedings        Commercial Debts    Personal Loans             Commercial Loans    Amounts related to unpaid goods                           Enforcement of existing Court Decisions        Representation in Insolvency

Contact us

Phone/Fax:

+40 21.232.14.99
Mobile:
+(4)0744 156 374

Email:

office@debtcollectionromania.com

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