Julianus Inkasso becomes the first in Estonia to obtain a credit management license

Ellex team in Estonia advised Julianus Inkasso OÜ on the application for a credit management licence from the Financial Supervision Authority. The licence was issued on 11 December, and this is the first credit servicers licence in Estonia. Julianus Inkasso OÜ’s licence is even more significant because it was issued before the statutory deadline.  

The credit management licence guarantees Julianus Inkasso OÜ the right to continue to collect or recover debts arising from credit agreements with banks or creditors. It also grants the right to collect payments due on overdue debts and to negotiate the terms with the creditor. The authorisation also entails obligations such as managing complaints about the credit agreement and informing the beneficiary of any changes in the bank’s or creditor’s claims under the credit agreement or in the interest rates, charges or payments relating to the credit agreement.   

Being the first to obtain an authorisation is an important quality mark for the company and demonstrates Julianus Inkasso’s commitment to high standards and customer confidence.   

The client was advised by Partner Martin Mäesalu and Senior Associates Kevin Gerretz, Helen Ratso and Anneli Krunks.