Debt collection in Norway

Debt collection is the usual way to ensure that you get paid for goods and services sold when the customer does not pay the invoice. The authorities in Norway have clear rules for how collection of overdue invoices is to be done. Simply explained, it is about which types of reminders can be sent at which times, and how much your customer may receive in fees. This is regulated in the Debt Collection Act.

We are keen to help our customers get paid as quickly as possible, while at the same time the person who owes money is treated in a good way. We have therefore added a few extra steps to the process so that the end customer receives close follow-up, and help to create a repayment plan if there is a need for it. We use a combination of SMS and telephony, and always try to find good solutions.

How to set up an effective collection strategy?

One can choose a partially or fully automatic process. This means that Kravia automatically collects and initiates debt collection on the invoices that are ready for debt collection, and works on them without the creditor needing to spend time on approvals and clarifications. This makes for a very efficient process.

The relationship with international debtors

We can help you with international debt collection. If your company has sent invoices to foreign companies or private individuals, Kravia can help to get the debt collection case handled in the relevant country. Kravia itself has operations in Norway and Finland. For the rest of the world, we are part of international networks to which we can forward cases.

To facilitate collection, the most important thing you do is to provide the correct information (eg correct address, original invoice) and respond as quickly as possible to any inquiries from Kravia. Debt collection is a fresh commodity and the earlier the case is sent to Kravia and the faster clarifications are made, the higher the probability that the case will be resolved.

Current statistics on debt collection in Norway

We resolve 80% of debt collection cases within 90 days. Debt collection is a fresh commodity and the earlier the case is sent, the higher the probability that the case will be resolved.

According to a study by Allianz, " Commercial debt collection ", Norway is a good payer with a "Collection Complexity Score" of 37. This is due in particular to the payment behavior of Norwegian companies and the efficiency of the courts when it comes to making quick decisions. Collecting unpaid bills in Norway is almost certain, especially if you use a specialized company that has the necessary license and is familiar with current practice.