Spanish Creditors Pursuing Debts in NON-EU Countries

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    • #188343
      icaru
      Participant

      The article by Raymundo Larraín Nesbitt is well-documented by does not make any mention of the ability of Spanish creditors to pursue debts of residents and nationals of non-EU countries such as the USA, Turkey, Morocco or others.

      Thanks for any info or insights on this question.

       

       

    • #188381
      Mark Stücklin
      Keymaster

      Icaru, I guess you are referring to this article by Raymundo: Spanish Creditors Pursuing Debts Abroad.

      Although Spanish lender can in theory pursue bad debts across EU borders I have yet to hear of a case of it happening. I guess it depends how big the debt is. Another option is for the lender to sell the loan to a debt-collection agency in the home country, but I haven’t heard of that happening either.

      Debt collection outside the EU is even more complicated and costly. In the majority of cases I would expect the lender to write off the debt, rather than try and pursue a claim in the places you mention like Turkey or Morocco (but perhaps no the USA). The costs will often outweigh the likely payoff.

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