Costs for Debt Recovery Services in Romania

 

 

 

» Summons of Payment
This is a quicker procedure that relates to debts representing obligations of payment of certain amounts, assumed through a written contract or determined through a different statute, regulation or written document, which attests rights and obligations regarding the execution of certain services, work etc.

 

Read more

» 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.

 

Read more

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.

 

Read more

 


Debt Collection Costs

Creditors of Romanian persons or companies will have to consider the following costs related to debt collection procedures:

1. Attorney-fees.

We will be able to provide a quotation once we receive some initial information about your case.

2. Translations and postage costs.

All documents supplied as proof to the Court will have to be translated by a Romanian Sworn Translator beforehand. Notifications to the debtor as well as the initial claim with the Romanian Court will be done via Registered Post.

3. Court Fees.

Although the Summons of Payment only requires a minimum Court Fee, it has restrictive conditions. For Common Law procedures the Romanian Law has imposed the following taxes:

a)Up to 50 lei - 6 lei;
b)Between 51 lei and 500 lei - 6 lei + 10% of the amount exceeding 50 lei;
c)Between 501 lei and 5.000 lei - 51 lei + 8% of the amount exceeding 500 lei;
d)Between 5.001 lei and 25.000 lei - 411 lei + 6% of the amount exceeding 5.000 lei;
e)Between 25.001 lei and 50.000 lei - 1.611 lei + 4% of the amount exceeding 25.000 lei;
f)Between 50.001 lei and 250.000 lei - 2.611 lei + 2% of the amount exceeding 50.000 lei;
g)Over 250.000 lei - 6.611 lei + 1% of the amount exceeding 250.000 lei.
 

Other notes:

- All costs associated with the debt collection can be requested from the debtor in the event the trial is successful.

- In accordance to some contracts between the parties, procedures could necessitate filings with the Arbitrary Courts. In this case the costs will be bigger than those listed above. Please contact us for an approximation in this sense.

 

 

  
  
 
 

» 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

Copyright 2011 DebtCollectionRomania.com

A service provided by Lawyers Romania

Company Formation Turkey Company Formation Romania Swiss Company Formation Belgium Company Registration Lawyers in Luxembourg

click tracking

Home | Costs | Steps | FAQ | About us | Contact