When it comes to the seizure of assets in Ireland, the authorities must comply with the local legislation, however, as an EU country, certain EU directives can apply.
Not all Irish courts can recognize and enforce EU court decisions. Depending on the amount of money in the debt collection cases, the Irish High Court can recognize and enforce most of the EU court decisions.
The enforcement of a court decision, which in Ireland is mostly known as the execution of an order, will be completed only after the creditor has tried to recover any outstanding amount of money in an amicable manner.
An important aspect to consider is that in the case of loan recovery in Ireland, a financial institution has a time limit of 6 years in order to start the legal proceedings against a debtor.
Our debt collection lawyers in Ireland explain the debt collection procedure in order for creditors and debtors to understand how the process works. We also offer debt collection services in Ireland.
In Ireland, outstanding amounts of money can be collected by private agencies, but also by financial institutions, however, most of the times, private agencies will complete such activities.