Why debt collection?

When the due date for payment has expired without the invoice being paid, the case may be sent for debt collection. Invoices are sent for debt collection because the person who has sold or lent something needs the money they are owed in order to meet their expenses. Unpaid bills can therefore be followed up by a debt collection agency until payment is received.

Most people just forget to pay

Most people who receive a debt collection notice simply forgot to pay the bill and need no more than this reminder. Kredinor is a debt collection company that follows up payments on behalf of clients in the private and public sectors. If the debt collection notice is paid within 14 days, the case is closed immediately.

 

Why have I been contacted by Kredinor?

Organizations in both the private and public sectors depend on getting paid for what their customers buy, borrow or make use of. If a customer does not pay what they owe, the unpaid debt may be sent to Kredinor for collection. Kredinor then follows up the case, through reminders and debt collection notices – and keeps in touch with the debtor until payment is made.

Kredinor is a debt collection agency that follows up unpaid bills for Norwegian companies and the public sector, in accordance with prevailing laws and regulations.

Why do people pay late?

The vast majority have simply forgotten to pay. Others collect up their bills and pay them all at once, or they may wait a few days until there is money in their account. At the same time, we know that some people occasionally overspend, and end up unable to pay all of what they owe. Whatever the reason, it is important that you contact those you owe money to if you have payment problems. If the case has been sent for debt collection, you must contact us so that we can discuss a suitable payment solution.

Most of those who receive a debt collection notice have simply forgotten to pay and need no more than this reminder.

Customer care is important in debt collection too

Even if the bill is overdue, you are still an important customer, who we and our client want to follow up in a way that is considerate and predictable. A debt collection notice is simply a reminder that the case may be sent for debt collection, with a two-week payment deadline. If a debt collection notice is not paid and the customer does not call us for help, we try to follow up by phone or by message. It is important to clarify why the customer cannot pay. Read more about the debt collection process and what happens if a debt collection notice and payment request are not paid. Non-payment may result in a payment remark being recorded against the person concerned.

If a debt collection notice is not paid, a letter requesting payment will be sent with a two-week payment deadline. This letter also states that continued non-payment could result in a payment remark being recorded in a public register.

Payment remark and increased costs

Late payment could result in additional costs. The rate at which interest on overdue payments, debt collection fees, court fees and enforcement costs are charged is determined by the authorities. Together, these costs can quickly mount up. If a request for payment with a two-week payment deadline is not paid, a payment remark may be recorded against the person concerned in a register of bad payers. Such a remark will make it impossible to get further credit in connection with loan applications, mobile phone subscriptions, shopping online and much more. As soon as payment has been made, the payment remark will be deleted.

If the bill is not paid, the total amount payable will increase because interest and fees are added for the delay. Some of the fee goes to pay those who follow up the case in Kredinor, some goes to our client - and some goes to the authorities.

Credit is a payment agreement

Whenever a customer borrows a sum of money or buys something on credit, i.e. the seller lets them pay after they have received the item or service, there is always a risk that the amount owing will not be paid. If too many people fail to pay, those who have sold the product or provided the service may end up in financial problems. Vendors must still meet their obligations, like paying their suppliers, rent and employee salaries, even when the revenues they expect to receive do not materialize. That is why debt collection is necessary. To regulate the debt collection process, the authorities have decided that it should be subject to clear laws, regulations and deadlines. They have also established a schedule of fees that increase the larger the amount, and the longer it takes before the customer pays.

In a modern and vibrant society, debt collection is necessary because people want the freedom to buy on credit.

About debt collection and the debt collection industry

The number of debt collection cases and the level of debt in Norway is high. Kredinor has assisted Norwegian businesses and public sector entities with payment follow-up and debt collection since 1905. In recent years, we have increased our involvement with invoicing. Our customer surveys show that our clients appreciate the work we do. At the same time, we know that many of our clients’ customers appreciate the work we do in simplifying the process and helping them via our customer service. Finding good solutions – both both for our clients and their customers is always our highest priority.

Debt collection fees showing the rates for late payment. 

Clear laws and regulations on debt collection

All debt collection companies must comply with the Debt Collection Act’s general clause on generally accepted debt collecting practice, the provisions of the Data Protection Act, etc. If the recipient of a claim disagrees with the way their case is being handled, it is essential that they submit a complaint via our log-in solutions on My Page, or contact Kredinor as soon as possible by phone . We are always here to help with advice and solutions until the case is resolved.

Have you received a letter from Kredinor? Log in to My Page.

Contact form debt collection services

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