Debt Collection Handbook Belgium 2024

Debt Collection Handbook

  • Belgium
  • Agriculture,
  • Automotive/Transport,
  • Chemicals/Pharma,
  • Construction,
  • Consumer Durables,
  • Electronics/ICT,
  • Financial Services,
  • Food,
  • General economic ,
  • Machines/Engineering,
  • Metals,
  • Paper,
  • Services,
  • Steel,
  • Textiles

30th October 2024

Having drawn from the expertise of Atradius Collections' local offices, the International Debt Collection Handbook explains the different regulations and procedures for debt collections in Belgium.

Amicable collections

General information

 

 

 

 

 

 

Handbook Report Page - Amicable Phase

 

 

 

 

 

 

We maintain a professional collection process. We always try to safeguard the relationships between you and your debtors. Our team of collection specialists carry out the collection process in-house. We contact debtors both verbally and in writing while adhering to applicable Belgian law. 

We also have a network of external partners who can visit debtors’ premises. Their objective is collecting the debts and providing summaries of the local situations.

Interest

In the amicable phase, we always charge debtors for interest. The applied default rate is 12%.

Debt collection costs

In the amicable phase, we charge two types of collection costs per debt collection case.

  • A fixed amount of EUR 40 according to section 6, paragraph 1 of the statute of 2 August 2002 on late payment, regardless of the amount of the debt
  • A penalty clause of 15% of the principal amount of the claim submitted to us. The interest and cost rates we’re using are in line with the average rates applied by our clients

At your request, we can adapt the rates we’re using according to your terms and conditions.

From a cultural point of view, recovery of late payment interest and collection costs is quite difficult. Penalties for late payment can be considered a matter of negotiation between you and your debtors.

The Debt Collection Handbook presents a snapshot of Belgium's economic situation and covers the following topic:

  • Statute of limitations
  • Payment methods
  • Types of companies
  • Retention of title
  • Safeguard measures
  • Legal procedures & legal system
  • Enforcement
  • Insolvency proceedings
  • Arbitration and mediation

To read more about the steps and procedures undertaken in debt collections in Belgium and other countries: