Published on July 31, 2017
Last update on July 31, 2017
Prior to the regulations referred to below, if a small business or consumer needed to recover money from a debtor in another EU country, such recovery was difficult, time consuming and expensive. Challenges included differences in national or domestic laws, the cost of hiring legal expertise and translating documents.
Accordingly, the European Commission proposed a European-wide expedited regime aimed to ease the recovery of cross-border debts for both citizens and businesses.