Debt Recovery in Spain

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29 Apr 2012 15:01 by dw190 Star rating. 3 posts Send private message

I have a European Enforcement Certificate for a debt in Spain.

The Lawsuit has been filed with the Certificate in the Spanish Court.

Has anyone any idea how long the Courts take to turn around such an application and issue an Order for seizure of the debtors assets? 





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29 Apr 2012 16:30 by Karensun Star rating in Orihuela Costa. 1744 posts Send private message

Karensun´s avatar

If you have to wait as long as we do for recovery of Community Fees you are looking at 3 to 4 years!

Even after you get a successful sentence ( judgement ) you are looking at over a year until you MAY/or not get an embargo on the property.

THEN the property has to be sold before you get the money and the  property market  is not exactly bouyant here!



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29 Apr 2012 17:14 by dw190 Star rating. 3 posts Send private message

Thank you for the quick reply.

As the amount is a substantial one I would hope it could be sorted sooner rather than later however, as the debt is still attracting interest at the UK Court rate of 8% per annum it remains a good investment if delayed.

 

Hopefully it will be sorted before the debt rises higher than the value of the property.





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