Cross-border debt collection and enforcement
We would like to inform everyone that if you have a monetary claim or receivables – with a few exceptions – against a company or private person, who is not paying the debt voluntarily, but either you or the debtor is resident abroad, it is possible to initiate proceedings for a so-called European Payment Order (EPO), which can be issued by a notary public here, in Hungary.
The advantage of this procedure is that it is cheaper than a lawsuit to the Court; moreover, if the claim is not disputed by the debtor in time (fails to object it with a statement of opposition), the order issued and it becomes final, effective and enforceable. It means that in such case, the debt can be enforced directly against the debtor’s assets anywhere within the EU.
If the debtor objects, the proceedings turn to a litigation case, which continues at the competent Hungarian civil court.
This European Payment Order procedure can be initiated at any Hungarian notary public by the submission of the relevant form sheet.
We hope that this information is helpful for you to collect your debts in either private or business relations!
Feel free to contact us.