Information related to the Collection of Debt 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.

 

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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 FAQ

Q: I have an unpaid debt from a Romanian company. Where do I start?

Email us. Please describe to us the exact situation, the location of debtor and the supporting documentation. The next step would be for us to suggest a strategy and provide a fee quotation.

Q: Do I sue with the Romanian Courts or abroad?

This depends on what your contract stipulates. Should you be uncertain about this matter please email us and we will provide the necessary clarifications.

Q: I already have a Court Decision against my Romanian debtor. How do I proceed?

Recognition of foreign judgments are completed through a special procedure, however if they are emitted by an EU Court then this procedure is not necessary. Please contact us for more information on this subject.

Q: Where is Debt Collection Romania located?

A: We are based in Bucharest, however we activate in all Romanian major cities, such as Constanta, Cluj, Timisoara, Iasi etc. Depending on certain aspects of each case, we are able to represent clients anywhere in Romania.

Q: What are the steps for a debt collection in Romania?

A: Procedures depend on the specifics of each case. Nevertheless basic steps include: sending a formal notification (required by Romanian Law in some cases), establishing a meeting with the debtor, commencing the trial and enforcing the judge's Decision (should the debtor not comply with the Court Decision).

Q: Who is going to represent me?

A: You are going to be represented by Romanian lawyers throughout all stages of the debt recovery procedure (including pre-trial proceedings). Please read our About Us section to know more about our team.

Q: How quickly can I recuperate my debt through a Court of Law?

A: Although there are 2 types of trials that can be initiated for a commercial debt (one being presumably faster than the other), the actual situation of the legal system in Romania makes debt collection a slow process. Reaching a final Court Decision could easily take months or in some cases, even years.

Q: How much does a Debt Collection cost in Romania?

Besides our fee-quotation which will be offered once we find out the basics about your case, clients will have to consider Court Fees. While the Romanian Court Fees for the Summons of Payment procedure are very low, these are consistent for Common Law Trials. Please see the section of our website related to costs for in-depth information.

 

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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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