How to Recover a Commercial Debt from a Colombian Debtor

Colombia is a market of growing interest for European and Italian companies, thanks to its strategic position in South America and increasingly consolidated trade relations. However, recovering a commercial debt in Colombia can present challenges linked to the complexity of the local judicial system and to the length of judicial proceedings, which vary considerably depending on the route chosen. Knowing the tools available therefore becomes essential to protect one’s interests.

Actions for International Debt Recovery in Colombia

A creditor seeking to take action against a debtor based in Colombia can rely on several tools provided under local law:

• Pre-legal or out-of-court management: before initiating legal action, it is standard practice to send demand letters and open direct contact with the debtor. This stage has the highest rate of effective recovery and is generally the most cost-efficient.
• Negotiation and settlement: if the debtor acknowledges the debt, it is possible to formalize a payment plan or restructure the obligation, reducing time and costs compared to judicial proceedings.
• Judicial action in Colombia: the creditor can initiate civil proceedings before the Colombian courts.
  • For claims supported by an enforceable title (such as promissory notes, accepted electronic invoices, bills of exchange or contracts), the executive proceeding can be used, allowing swift protection based on the title itself (Art. 422 of the Colombian General Code of Procedure).
  • If the creditor does not have an enforceable title, it is possible to proceed with the declarative proceeding or, for claims based on documents but lacking an enforceable title, with the simplified “monitorio” proceeding, both aimed at obtaining a judicial ruling that establishes the existence and amount of the debt.
• Precautionary measures: it is possible to request the judge to seize and attach the debtor’s assets, including bank accounts, real estate and vehicles, even before the debtor becomes aware of the existence of the case, in order to prevent the dissipation of assets during the proceedings.

Why Rely on an Experienced Lawyer for Debt Recovery in Colombia

The Colombian legal system has particular rules that require experience and knowledge of the local context. Relying on a lawyer specialized in international debt recovery makes it possible to verify the debtor’s solvency in advance, choose the most effective procedure based on the type of claim and the title available, and, if necessary, request precautionary measures from the very start of the proceedings.

Ursusnetwork offers specialized legal assistance for debt recovery in Colombia, identifying the most appropriate strategy based on the claim and the debtor’s financial situation.