WHICH COSTS ARE ASSOCIATED WITH THE PAYMENT OF MY DEBT?

Collection costs are added if you have failed to pay your invoice(s) on time. 

The amount of collection costs is regulated by the Obligations Act in the Republic of Estonia. 

The amount of collection costs is based on the debt amount range as per the Obligations Act, allowing collection agencies to add these costs to the debt. 

For individuals (private persons), section 113(2) prime of the Obligations Act applies. 

During the term of the contract, a collection cost of 5 euros per unpaid invoice may be charged. 

For example, for two unpaid invoices, the collection costs are: 

2 x 5 = 10 euros 

After the contract ends, the following collection costs may be added to the debt: 

• Up to 30 euros if the debt amount is up to 500 euros 

• Up to 40 euros if the debt amount is between 500–1,000 euros 

• Up to 50 euros if the debt amount is over 1,000 euros 

Court fees are added to the debt amount if court proceedings are initiated. Check the cost calculator HERE. 

Late interest is a fee that the creditor may charge for the period in which the invoice(s) remain unpaid. 

Late interest accrues from the time the financial obligation becomes due until the obligation is fully met. The rate is based on the agreement between the debtor and the service provider or seller or a statutory rate. 

Late interest continues to accrue even if the debt collection is referred to a collection agency, court, or bailiff. 

For more information on late interest, see § 113 of the Obligations Act. 

Interest is a fee paid to the lender for use of the borrowed money. Interest may only be charged if agreed in the contract.

Interest is calculated for the period during which the borrower was entitled to use the funds—from the time the funds were disbursed until the due date for repayment. After that, interest calculation ends.