Finland collection profile

Finland-bnr

 

Collecting in Finland

  • The payment behavior of domestic companies is excellent with payments taking place in 25 days on average, and the EU framework provides reliable tools when it comes to late payment.​

  • Legal action for undisputed debt is usually resolved quickly (between 3 to 6 months), however, when the debtor’s assets are difficult to locate, or the debt is disputed, it can become time consuming.

  • Although insolvency law aims at rescuing companies facing financial difficulties in order to increase repayment possibilities, most reconstruction procedures spread over years (or fail) thus leaving the creditors with no or very few dividends, while liquidation procedures leave very low recovery chances to unsecured creditors.

 

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    Finland

    Finland

    Collection complexity

    notable-2

    Collection relating to

    Payments
    $-1
    Court
    proceedings
    Gav-2
    Insolvency
    proceedings
    Arrow-1

     

     

    Publications about Finland

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