Pan-European Debt Collection gets Easier

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00002728-pan-european-debt-collection-gets-easier/

Members of the European Parliament approved new procedures for resolving uncontested debts across EU borders this week. The new European Order for Payment procedure is intended to benefit individuals and businesses alike.

At the moment, debt claims can only be pursued using national legal systems, with the claim dealt with in the jurisdiction of the defendant debtor. This creates problems for claimants, who sometimes have to make claims in a foreign country.

The new procedure, approved by the European Parliament on Tuesday and by Member States at the Justice and Home Affairs Council on 2nd December, should make debt collection easier.

For this complete story, please visit http://www.out-law.com/page-6464.