Debt collection

Authorisation is not required for

• A party that collects debt arising in its own operations, so-called proprietary debt collection.
• A party that collects debt as a subordinated activity as part of other operations and where none of the operations consist of commercial business, or a party collecting debt for a company that is included in its own group, so-called intragroup debt collection. Please note that these exemptions do not apply if the debt collection activities refer to debt that comes from or has been taken over from someone who was not able to collect the debt without their own debt collection authorisation.
• A party that has authorisation from Finansinspektionen and is subject to Finansinspektionen's supervision. However, firms that are only registered with Finansinspektionen and are not subject to Finansinspektionen's supervision still need debt collection authorisation.
• Lawyers and employees at law firms may collect debt without authorisation. Their debt collection activities are subject to supervision by the Swedish Bar Association.

Debt collection authorisation is time limited

Finansinspektionen will normally grant authorisation for a ten-year period. If a firm intends to continue to conduct regulated debt collection activities a new application for authorisation must be submitted to Finansinspektionen before the prior authorisation expires. Finansinspekktionen will conduct a new assessment based on the application the firm submits at that point in time.

Knowledgeable and prudent person

One of the requirements for authorisation is that the operations are conducted in a knowledgeable and prudent manner. The firm must specify, among other things, a person who has sufficient knowledge and is prudent. If this person is replaced at a later point in time, the firm must notify Finansinspektionen of the change.

Debtor register

A debt collection firm that intends to give up or take over a debtor register that is used in regulated debt collection activities must apply for permission from Finansinspektionen. If such a register will be terminated, for example if the debt collection operations will cease, Finansinspektionen must be notified of this.

Fees

The fee for the assessment of an application for authorisation is SEK 23,800. See the fact box for payment information.
FI also charges an annual supervision fee 25,000.

Processing time

FI will make a decision within 90 days provided that the application is complete and the fee is paid.

Other information

FI intends to issue regulations and general guidelines in 2024 regarding, among other things, good debt collection practices.