The economic instability in Estonia and across Europe has led to overdue payments, long-term debts, and increasingly complex situations — from avoidance of payment obligations to bankruptcy and enforcement proceedings. For many companies, managing debts alongside daily operations is time-consuming and unfamiliar territory: interest and penalties accumulate, other creditors’ claims emerge, the risk of the debtor becoming insolvent increases, and in the worst case, claims may even expire.
Starting from September 2025, Grant Thornton Baltic offers both existing and new clients a comprehensive debt collection service. Our goal is to make debt recovery clear, efficient, and results-oriented.
First recommendation: act now!
Taking action early significantly increases the chances of success. The longer the delay after a missed payment, the higher the risk of the claim expiring. The debtor’s financial situation can deteriorate rapidly, and creditor inaction increases both costs and interest. Therefore, we recommend starting recovery procedures as soon as the first signs of unpaid invoices or outstanding debts appear.
Each case begins with a thorough assessment of the situation and agreement on an action plan. From there, we take over the process while keeping you informed every step of the way.
Our work may include:
- background analysis and risk assessment of the debtor,
- selection of a realistic and cost-effective recovery strategy,
- pre-trial procedures, including formal notices and demand letters,
- preparation and submission of properly formatted claims,
- negotiations and settlement agreements (including payment schedules and debt acknowledgment agreements),
- court proceedings if necessary,
- initiating bankruptcy proceedings when justified, and
- enforcement procedures and follow-up actions to conclude the process.
The action plan is always developed together with the client to ensure the most effective approach for each situation.
A comprehensive service that delivers results
Grant Thornton Baltic’s strength lies in its team of experienced legal professionals. We value transparency and clear communication — as our client, you will always know what has been done, what’s next, and what alternative options are available. Our focus is on results: for each case, we select the solution that maximizes the likelihood of successful debt recovery while minimizing risk.
Until now, Grant Thornton Baltic’s legal advisory team has mainly focused on other business services, but recently our clients and new contacts have increasingly sought support in debt recovery. For this reason, we launched a new service line in September 2025 to provide a complete solution in this area as well.
If you need assistance with debt collection but lack the resources, time, or desire to handle it yourself, we are here to help. Our legal advisers are experts in their field and will work with you to find the most suitable solution for your situation.
