Debt collection

Debt collection usually progresses in periods of two weeks. The more time has elapsed from the original due date, the larger the related expenses.

Creditors will send one or two payment reminders on unpaid bills. The first reminder is usually sent after two weeks from the original due date of the bill. At this stage, the debtor should contact the creditor and agree on the payment to prevent the interest and other expenses from accumulating.

If a debtor has not paid a bill or agreed on a payment scheme by the due date on the payment reminder, the bill is usually given to a debt collection agency. The first payment demand can be sent after four weeks of the due date at the earliest. More information on enforcement.

Expenses are incurred at every stage of debt collection, which are added to the original amount of the debt. The earlier a debtor contacts the creditor or debt collection agency and agrees on a payment schedule, the smaller the amount of these expenses.

Unjustified bills or collection

If a bill or a payment demand from a debt collection agency is unjustified, the debtor should contact the entity that sent the bill. If the matter cannot be resolved after this, you can complain to the Finnish Competition and Consumer Authority about the bill or debt collection. More information in Competition and Consumer Authority’s website (kkv.fi).

Suspending voluntary collection

A debtor can request a creditor to apply for enforcement even if debt collection has not been finished. This reduces the expenses incurred from debt collection and speeds up the process of the matter. The request to transfer a debt to enforcement must be made in writing to the entity that issued the bill or to the relevant debt collection agency.

You can check the amount of your debt from debt collection agencies for free once each year by ordering a balance statement.

Debt expiration

Debts expire after a certain amount of time, but the expiration periods vary.

After a debt expires, or becomes time-barred, it can no longer be collected. However, property that has been collected in enforcement proceedings can be used for the repayment of the debt if the property was collected before the debt became time-barred. More information on the expiry of debts (oikeuspalveluvirasto.fi).