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Debt collecting in Southern Ireland is considered, comparatively, more expensive and time-consuming than in most other jurisdictions.
Part of the difference that exists between debt recovery practice in Southern Ireland and that in England is attributable to the fact that the Irish District Court deals with matters which would normally be handled by the County Court in England.
And an examination of similar recovery procedures in existence in the European Union does indicate that Irish default procedures are slower than those in operation in the UK, the Netherlands and Germany.
However, this delay is sometimes cancelled out by the expense involved in pursuing debt in those other jurisdictions.
Such comparisons are becoming more important and relevant with the setting up of the latest network of solicitors, Lawyers International Inkasso.
Once firmly established, the network will bring together European solicitors from England, Ireland, Northern Ireland, France, Hungary, Italy, the Netherlands, Norway, Poland, Portugal, Spain, Sweden and Switzerland.
One important part of the new network is that solicitors will co-operate and assist in debt recovery for their respective clients.
The plan is for one solicitors firm from each jurisdiction to write an outline in the organisation’s manual, due to be published soon, explaining the procedure for debt recovery in that firm’s country.
This information will then be used in referring a creditor with a foreign debtor to the relevant foreign firm.