Top-Rated Debt Collection Agency in Norway
Fast and reliable debt collection in Norway - no upfront costs, only pay for success. Request a FREE Consultation or upload your claim today.
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Recovering your debt in Norway is easiest this way.
Debitura specializes in debt recovery services in Norway, which include accounts receivables management, debt collection notices, pre-legal and legal debt collection, as well as enforcement court proceedings. Our experienced professionals possess a deep understanding of Norway's debt collection laws and regulations, allowing us to offer efficient and effective solutions to assist companies in recovering their outstanding debts.
From the beginning to the end, you will receive committed assistance.
Tailored debt recovery plan.
"We have over 500 experts specializing in international debt collection."
We achieve a success rate of 87% with the most affordable cost.
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The ultimate guide on debt collection in Norway
Have you been searching for someone to assist with recovering a debt owed by a business or customer in Norway? Look no further!
Our team has already helped hundreds of companies reclaim their finances. Understanding the complexities that come along with collecting debts in Norway can be daunting - language barriers, foreign laws and customs, and vast distance all have an immense impact. Fortunately, our organization is here to help navigate those issues while ensuring your financial recovery!
Recovering your debt is straightforward when you use a collection agency versed in the regulations and cultural norms of the debtor's country. At Debitura, we prioritize people above all else while getting back what is rightfully owed to you. We employ tactful public relations strategies that are both reasonable and stringent-protecting your reputation being our mission!
To gain a comprehensive understanding of the Norwegian debt collection process, carry on reading this guide. But if you would rather enlist the help of an experienced local law firm specializing in debt recovery in Norway, we are available to provide assistance.
At Debitura, we offer a straightforward way to collect your debt in more than 200 countries around the world. Don't wait - upload your claim today and get 3 free quotes from local debt collection lawyers in Norway within 24 hours. Our approach combines human-centric strategies with cutting-edge technology solutions for superior results while retaining customer relationships. With our comprehensive method, you can be sure of getting what you need without damaging important connections. Furthermore, we proudly sustain fruitful rapport with our debt collectors, attorneys, suppliers and vendors; relationships that are invaluable to us in getting the job finished. We treasure all of these associations regardless of their size.
Upload claim
Begin recovering your outstanding debt in Norway today at no cost. Simply create a free account and submit your case in only 2 minutes.
Pre-legal
During the initial 3 months, we will attempt to retrieve your debt through our effective pre-legal recovery method. You won't have to pay anything if we are unsuccessful in doing so.
Legal
If your claim remains unpaid during the pre-legal phase, we will offer you three quotes from our nearby debt collection attorneys.
24/7 updates
You get access to our online portal where you can track your case in real-time
Introduction to collecting debt in Norway
Struggling to get paid by your Norwegian customers? Worry no more! At Debitura, we make it simple for you to collect debt in Norway.
In the event of a debtor-creditor relationship, ‘the creditor’ is responsible for issuing invoices and 'the debtor' must pay them off. The creditor has two options: firstly, they can take on the responsibility of collecting the payments themselves - this process is known as “first-party collection”; or secondly, outsource their debt collections needs to an experienced third party – otherwise known as "third-party collections".
With our services, getting paid will be easier than ever before!
- On the whole, domestic businesses typically settle their payments within thirty days. Furthermore, our court systems are capable of addressing and resolving any disputes that may arise in a timely manner.
- Therefore, it is essential to negotiate and reach a compromise before resorting to legal action. It is equally important for one to receive adequate support during the negotiation process.
- If insolvency occurs, attempting to collect the debt is extremely difficult as renegotiating schemes are unhelpful and the priority rules set forth in liquidation proceedings make it nearly impossible for creditors without security interests to receive any money.
Days Sales Outstanding (DSO)
Norwegian firms are renowned for their payment behavior and typically settle invoices within a 30-day period. The Days Sales Outstanding (DSO) of publicly listed corporations is slightly higher, with an upward trend observed in recent years.
Common payment types in Norway
Among the most popular payment solutions, bank transfers reign supreme in Norway. This is due to their expediency, safety and extensive banking network both nationally and internationally.
Obtaining bank guarantees can be expensive, yet is generally attainable. Furthermore, in Norway checks are no longer a viable payment option and certain Norwegian banks refuse foreign checks altogether. Bills of exchange, promissory notes and especially those issued within the last six months tend to represent debt acknowledgments more than they do as methods of payments; if unpaid they become directly subject to legal action by courts.
Main corporate structures
The degree of responsibility for business debts is determined by the laws that govern these structures, which can be classified as follows:
- Sole Proprietorship is an ideal choice for a single-owner small business, where no official corporate structure is necessary. However, be aware that the owner carries full responsibility for any debts incurred by their venture. For multiple owners who wish to share ownership and liabilities, Partnerships (ANS) offer joint liability; whereas Limited Liability Partnerships (DA) provide limited protection from individual partner’s actions should they occur.
- Aksjeselskap (AS) and Allmennaksjeselskap (ASA) are two distinct types of businesses that can be established in Norway. When setting up an AS, the minimal capital funds required is NOK 30,000 = EUR 2,951 whereas partners’ liability is limited to their contribution only. On the other hand for an ASA it requires a much larger investment at least NOK 1 million = EUR 98,380 divided into tradable shares so as to limit shareholders' liability solely to the value of their shares respectively. Notably no matter either type you decide upon single shareholder set-up remains accepted across all companies in Norway
- Companies from overseas may, alternatively, choose to operate in Norway via Branch Offices. These do not provide the same liability limitations as they are not considered separate legal entities - meaning that the foreign parent company is liable for any actions taken by their branch office. Additionally, Joint Ventures can only be established through a contract and do not constitute independent legal entities.
The debt collection process in Norway
The debt collection process in Norway usually involves multiple steps.
The picture below shows the steps we take to collect debt in Norway:
1 Upload your claim:
If you want someone to help you get your money back, you will need to find a debt collection partner. This is a person or company that helps people get money back from someone who owes them money. You can upload your claim to their website. If you use Debitura, we will provide you with 3 quotes from local partners in the European country relevant to your case. This is 100% free - no strings attached.
2 Amicable collection:
The first step in collecting a debt is to send reminders to the person who owes you money. This is called a "campaign." The reminders will be sent using different ways to communicate, like email, SMS (text messages), and letters. The goal is to get the debtor to pay the debt or agree to a payment plan. Debitura offers a no-cure-no-pay solution for amicable collection. This means that you only have to pay a small success fee if we are able to collect the debt. Amicable collections with Debitura are 100% risk-free!
3 Evaluation:
If you have not received payment from the debtor after the amicable phase, it is time to evaluate the next steps. We will look at the size of your claim, the payment probability and other factors to guide you in take the best decision on what to do next. There are three typicall next steps:
A Surveillance:
If your claim is for less than 2,000-5,000 euros, it is not usually worth it to take more legal actions. In this case, we recommend "debt surveillance." This means that we will keep trying to contact the person you owe money to and try to reach an agreement about how much they will pay you back.
B: Legal collections:
It's a good idea to go through the legal system if you have a big problem that needs to be fixed. But how you do it will depend on what your problem is and how big it is. Usually, it takes about a year and a half to finish the process.
C: Debt enforcement:
If the person you are owed money from has said that they owe you money, or if you have a court order, you can go to the bailiff's court to get your money.
At Debitura, we can help you with everything you need in Norway.
Amicable collection in Norway
At Debitura, our amicable collections process is both risk-free and exceptionally dependable. Submit your claim to get the ball rolling; we'll be starting within 24 hours!
To attempt to contact your debtor in Norway, all available communication pathways will be utilized such as e-mail, SMS messages, letters, phone calls and social media platforms.
Through this procedure, we strive to:
A) Secure payment of the full amount from the debtor.
B) To ensure a successful outcome, it is important to get the debtor to recognize their debt and develop an organized payment program.
If the debtor has challenged your claim, you may not be able to reach an amicable settlement and must instead seek legal collections.
Late Payment Interest
Although Norway is not an EU Member State, its regulations abide by the same standards as those established in European Union Directive 2011/7/EU, which requires all payments to be made within 60 days. According to the Norwegian Act regarding Interest on Overdue Payments, late payment interest can start accruing immediately after the due date of any accounts receivable. Unless specified otherwise in a contract agreement, reference rate set forth by the Department of Justice (reviewed bi-annually) plus 8 percentage points may be applied when calculating this additional fee.
Interest payments are typically the responsibility of debtors, but can also be utilized as an effective bargaining chip to maintain an ongoing business relationship.
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amicable debt collection
Upload your claim and get started with our 100% no-cure-no-pay collection solution.
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Legal collection in Norway
If your claim has not been settled in the amicable phase or if the debtor counters it, we will provide you with 3 complimentary quotes from our local debt collection lawyers. During the legal stage, one of our trusted attorneys will contact your creditor and attempt to negotiate payment. Moreover, they can take further measures by submitting a court request for payment order via Norway's judicial system; consequently enforcing your demand through Enforcement Court.
Ordinary proceedings
If the debt is certain and without dispute, a bailiff will issue a Payment Order that holds the same weight as an official court judgement. Consequently, if payment is not received according to the order issued by the bailiff, forced execution may be started.
If the debtor disputes the debt, however, then it must be addressed through either a Conciliation Board or an ordinary lawsuit. Typically the creditor would need to file a suit with their local District Court in order to have both parties join together and determine any claims they may have. Following this determination there will typically be hearings held that allow for evidence collection as well as arguments before providing a final decision on any outstanding issues.
In Norway, damages, interests and litigation costs are typically awarded as remedies by the court. Unfortunately, punitive damages are not an option.
As a nation governed by Civil Law, Norway utilizes codified rules rather than relying on case law. Further, being part of the European Economic Area Agreement entails implementing most EU laws into Norwegian Law as well.
The judicial system of Norway is composed of two primary branches: the Conciliation Boards situated in most cities, and 23 District Courts dispersed across the nation that hold both civil and criminal jurisdiction. As there are no specialized courts, all commercial disputes must instead be addressed to district court.
Disputes of up to NOK 125,000=EUR 12,297 that are not handled by legal representation must typically be presented before the Boards prior to being brought forth in District Courts. The six Courts of Appeal and the Supreme Court (situated in Oslo) then act as alternate courts and provide their final verdicts.
To get the best value for your legal fees, it's wise to compare multiple quotes from different attorneys. Luckily, this process is as simple and easy as a few clicks away when you use Debitura! With our platform, you can review a range of offerings depending on the complexity and size of your claim.
Get started with
legal debt collection
Upload your claim and get 3 FREE quotes from our local collection partners.
Debt enforcement in Norway
Armed with a written confirmation of your claim from the debtor or court order, you can take advantage of Norway's bailiff system to enforce and secure your legal right.
Once a judgment has been rendered and any appeal options have closed, that decision is enforceable for up to 10 years. If the debtor fails to comply with it, one may need to request compulsory enforcement from authorities in order to recoup their funds; this will involve seizing of assets or other possessions belonging to the debtor as payment.
The precise timeline and associated expenses depend on your individual situation. Submit your information to Debitura today, and you'll receive three tailored quotes based on your claim within 24 hours!
Get started with
debt enforcement
Upload your claim and get 3 FREE quotes from our local collection partners.
Insolvency proceedings in Norway
- Out-of-court proceedings are common in Norway but not regulated by law
- A debtor and their creditors are free to make any kind of arrangements they choose, but in practice, the DNB rules are often applied
- If a debtor is unable to satisfy their debt as it falls due, a court-appointed Supervisory Committee will assess the situation and prepare a composition proposal
- If the court finds it likely to succeed, a Composition Committee and court-appointed trustee will manage the debtor's operations and formulate a composition agreemen
- A debt settlement proceeding may result in a completed debt settlement, composition or – usually – the commencement of bankruptcy proceedings
Our analysis has shown that the risk of conducting business in Norway is low. Based on this low score, You can feel reasonably confident that you will be able to get paid when trading with customers in Norway. Nonetheless, we always recommend doing a specific credit analysis on an individual customer basis before offering any credit. The low risk score is based on the following factors:
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The economic risk in Norway
Our analysis shows that the economic risk in Norway is very low (1 out of 6). An economic risk of 1 out of 6 is low in Europe.
GDP and economic growth are critical drivers for economic risk.
The GDP of Norway is 482.44 bn. USD (2021), growing by 3.92% per year.
In terms of the size of its economy, Norway ranks #28 out of 183 countries and has a large economy.
In terms of growth rate, it is ranked #105 out of 183 countries and is therefore considered an excellent growing economy.
GDP per capita is 89203 USD, ranking Norway number #5 out of 183 countries. This means the purchasing power of citizens in Norway is high compared to the rest of the world.
You can see a more detailed picture of GDP and economic growth in Norway in the table below:
Another big impact for the risk score is the inflation rate and the interest rates. You can see a more detailed picture of monetary key performance indicators in Norway in the table below:
The inflation in Norway was 3.5% in 2021 which is considered a low inflation rate.
The interest rate for businesses is 2.27%.
The business environment risk in Norway
Our analysis shows that the business environment risk in Norway is very low (1 out of 6), which is a relatively low risk score in Europe.
Economic freedom and rights determine the business environment risk in a country. You can see the critical facts for Norway in the table below:
As you can see above, the property rights index is 82 in Norway, which is considered quite good in Europe.
The business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study. The Index is 86 in Norway, a quite good score for a country in Europe.
Norway's overall economic freedom index is 73 out of 100 and is based on factors such as the rule of law, regulatory efficiency, and market openness.
The political risk in Norway
The political risk in Norway is very low, with a score of 1/6. This is a low political risk score in Europe.
The governance and political stability indicators are critical drivers for political risk. An overview of Norway can be seen in the table below:
The rule of law index analyses to which extent agents have confidence in and abide by the rules of society, in particular the quality of contract enforcement, property rights, the quality of the courts, and the police's ability to enforce court orders.
When doing business in a country, the rule of law index is critical as it describes your ability to enforce commercial contracts.
In Norway, the rule of law index is at 1.95 points, with the score going from -2.5 (weak) to 2.5 (strong). Norway has, therefore, a very high rule of law index, which means you have a very good chance of enforcing your contracts. If your individual customers have good creditworthiness, you should therefore feel relatively safe when providing credit.
Other drivers for the very low political risks are the very strong control of corruption, the strong political stability index, and the normal shadow economy that is 15.07% of Norway's GDP.
The commercial risk in Norway
In Norway, the commercial risk score is 1/4, which in our model is a very low score. This very low commercial risk score is low compared to the average in Europe.
The commercial risk is relying on a country's international trade relationships. You can see some of the key facts for Norway in the table below:
Norway has a foreign exchange reserve of 84.27 bn. USD.
Norway has a positive trade balance of 12.46% of GDP. This means that Norway imports fewer goods and services than the country exports.
The annual growth of exports of goods and services has been growing 4.76% annually - now 41.57% of GDP. Import of goods and services represents 29.11% of the GDP in Norway.
The financing risk in Norway
We have calculated the financing risk to be 1/4, which equals a very low risk. A very low financing risk score is relatively low for countries in Europe.
The country's banking system, efficiency, and stability influence the financing risk. You can find the extra information for Norway in the table below:
In Norway, the credit information sharing index is 6 on a scale from 0 (low) to 8 (high). This means the accessibility and quality of credit information available in Norway is medium.
This makes it easy for you to understand the credit risk of your counterpart in Norway. You would be able to find a good local credit rating agency that can help you analyse the creditworthiness of your specific customers.
Your rights as a creditor are 5 out of 12 and, therefore, weak.
The very low financing risk for creditors also impacts the low interest rate in the private sector of 2.27%.
Debt Collection in Norway: Frequently Asked Questions
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In Norway, the creditor is responsible for issuing invoices and the debtor must pay them off. There are two options for debt collection: first-party collection or third-party collections. Domestic businesses typically settle payments within 30 days. Negotiating and reaching a compromise before legal action is ideal. Payment types include bank transfers, as checks are no longer viable. The debt collection process involves uploading the claim, amicable collections, evaluation, surveillance, legal collections or debt enforcement. Debitura offers the services needed to collect debts in Norway.
The debt collection process in Norway involves three steps; pre-legal collection, legal debt collection, and debt enforcement. It begins with uploading your claim to a debt collection partner's website. The partner sends reminders to the debtor to pay the debt or agree on a payment plan. If unsuccessful, evaluation of next steps is made, which could be surveillance, legal collection, or debt enforcement. Debitura helps you through the entire debt collection process in Norway.
If the debt is certain and undisputed, a bailiff can issue a payment order that holds the same weight as a court judgment. However, if the debt is disputed, either a conciliation board or an ordinary lawsuit must be used. Insolvency proceedings are also available, with a court-appointed trustee managing the debtor's operations and formulating a composition agreement. Any legal action will require a local lawyer, and multiple quotes should be reviewed to get the best value for your legal fees.
In Norway, Debitura offers a no-cure-no-pay model for pre-legal debt collection with a success fee between 10-20%. The cost of legal actions varies depending on your case and desired actions. Debitura can provide you with 3 quotes from the best debt collection lawyers in Norway.
The time it takes to collect a debt in Norway depends on the debtor and the case. If the case can be resolved in the pre-legal phase, the process usually takes 3-6 months. However, if legal action is necessary, it can take 12-18 months for the debt to be collected.
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