Estonia's Financial Supervision Authority granted Julianus Inkasso OÜ the first operating licence for a debt collection company, allowing it to collect and purchase debts arising from the credit contracts of banks and other creditors. The Debt Collection and Debt Purchase Act requires debt collection companies to obtain a licence where they collect or buy debts linked to such credit contracts. The licence permits Julianus Inkasso OÜ to call in or buy these debts, collect overdue payments, and negotiate contract conditions with borrowers. It also imposes obligations including handling complaints related to the credit contract and informing borrowers of contractual requirements set by the bank or creditor, as well as changes to interest rates, fees, or payments. The management board members are Merle Laurimäe and Mihkel Veskimägi, and the authority noted that firms collecting only fines and arrears of maintenance payments do not need a licence.
Finantsinspektsioon 2025-03-25
Estonia's Financial Supervision Authority grants first debt collection operating licence to Julianus Inkasso
Estonia's Financial Supervision Authority has issued the first operating licence to Julianus Inkasso OÜ for debt collection and purchase related to credit contracts. The licence allows the company to collect overdue payments, negotiate contract terms, and handle complaints. Firms collecting only fines and maintenance arrears are exempt from licensing.