In Switzerland all collection costs are charged directly to the debtor. Our rates are 12% of all monies recovered. The process for debt collection in Switzerland is firstly the serving of “pre-legal” actions. This has to be completed before the authorities allow the collection process to begin. Twenty days are allowed or an objection has to be put in within 10 days. If payment is not made or the debt opposed. The debtors assets can have the debt attached or the other option is Bankruptcy. In the event of a Bankruptcy Petition being presented this action cannot be added to the debt.
Costs are high in Switzerland if choosing to go down the Lawyer route as most charge by the hour. Costs can vary from area to area.
Recovery in Switzerland is a slow process anywhere between three and six months but like most cases it depends on the complexities of the case.