Debt Collection Agencies in Ireland

Updated on Monday 01st April 2019

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The debt collection procedure in Ireland is strictly regulated so that it ensures a fair result for both the creditor and the debtor. 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.

The regulations which need to be respected by debt collection agencies in Ireland are very well defined, while the actions they can take to recover debts are subject to concrete steps.

Below, our lawyers in Ireland explain how debt collection agencies here work. If you find yourself in the situation in which you need to recover a debt, our debt collection lawyers can help you.
 

The main activities of debt collection agencies in Ireland


According to the NACE codes, which regulate the activities of companies, Irish debt collection agencies can undertake the following activities:
 
  1. the collection of outstanding amounts of money resulted from unpaid bills, which is often met in Ireland;
  2. such agencies can also act as debt collectors on behalf of companies seeking to recover outstanding amounts of money from other companies;
  3. Irish debt collection agencies can also recover money on behalf of the State and the authorities;
  4. debt collection agencies can also complete credit rating activities on behalf of financial institutions;
  5. it is possible for debt collection agencies to issue reports and credit scores for those seeking to apply for loans.

You can rely on our debt collection lawyers in Ireland if you need more information on the activities of such agencies.
 

Collecting debts resulted from unpaid bills in Ireland


Debt collection agencies in Ireland can be enforced by utility providers to collect outstanding amounts of money resulted from unpaid bills. The first stage in such a procedure will be for the provider to send to the agency in charge with collecting the debt the bills which have not been acquitted by the debtor.

The Irish debt collection agency will first try to resolve the case amicably, by sending dunning letters to the debtor and inviting them to contact the agency in order to settle the payment of the money.
In case the debt recovery procedure is not completed amicably, as a lack of response of the debtor, the agency can be enforced to collect the money in court.

Our debt collection lawyers in Ireland can help with both the amicable and court procedures related to recovering any type of debt.
 

The collection of commercial-related debts in Ireland


Irish companies can face financial difficulties which can lead to not respecting the commercial contracts the businesses have entered. In such cases, the companies seeking to recover the debts will request the assistance of specialized debt collection agencies in Ireland.

The debt collection lawyers will first try to establish contact between the creditor and the debtor, in order to resolve the dispute amicably.

It is good to know that most of the times, commercial debts can be settled by arbitration, considering contracts between companies usually contain clauses which provide for the settlement of such disputes.

There are also rare cases in which such clauses are not contained in the contract and the court debt collection procedure is the only solution left.

The collection procedure of commercial-related debts is usually lengthy and require a lot of documentation, which is why specialized Irish debt collection agencies are hired for such proceedings.

You can also rely on our debt collection lawyers in Ireland for assistance in such proceedings.
 

Debt collection agencies in Ireland Issuing credit scores and reports


Debt collection agencies in Ireland are not in charge with recovering debts only, as they can also issue credit scores and reports on the financial status of an individual or company seeking to obtain a loan or to engage in other relations which imply obtaining money from a non-financial institution.

It is the right of banks or other financial institutions to check if the potential client has any outstanding debts or has a good credit history and these facts can be verified with debt collections agencies in Ireland.
 

The debt collection procedure in Ireland


No matter the type of debt collection procedure in Ireland, it is important to note that:
 
  •  an Irish debt collection agency can contact a debtor between certain hours of weekdays;
  •  during the first contact, the agency will try to recover the outstanding amount of money amicably;
  • court proceedings will only begin only if the defendant fails to reply or pay the debt;
  • the court proceedings are handled by different courts, based on the amount of money to be recovered;
  • debt collection agencies must respect a few regulations in their attempt to recover money from debtors.

If you need more information on the activities of debt collection agencies in Ireland, please contact us.