Debt collection

The Act on the Collection of Debts contains provisions on the collection of overdue debts and other collection-related matters relevant to the parties in a debt relationship.

Debt collection means measures the purpose of which is to persuade the debtor to voluntarily pay its overdue debts. The act contains provisions on observing good debt collection practices. The Consumer Ombudsman is responsible for supervising compliance with the Act on the Collection of Debts when the collection concerns outstanding consumer debts.

Under the Act on Debt Collection Licences, debt collection on behalf of another party is subject to licence. A creditor may, however, collect his/her personal debts without a licence.

The licence can only be granted to an applicant that is reliable and solvent. The applicant must have on its payroll a person responsible for debt collection that is thoroughly familiar with debt collection procedures and the task of whom is to ensure that the debt collection is in accordance with good debt collection practices and that the debt collection is also in other respects in accordance with the law.

The applicant must also be able to manage the assets collected on behalf of its customers and to protect the information on the customer and the debtor.

Drafting of the debt collection legislation is the responsibility of the Ministry of Economic Affairs and Employment. The Regional State Administrative Agency for Southern Finland serves as the licensing and supervisory authority.

Further information: tuomo.knuuti(at)