25/03/2025
Finantsinspektsioon issued an operating licence as a debt collection company to OÜ GS Core on 23 December. The Debt Collection and Debt Purchase Act requires all debt collection companies to apply for a licence if they collect debts arising from the credit contracts of banks or creditors.
The debt collection licence will give OÜ GS Core the right to call in debts arising from the credit contracts of banks and creditors. It also gives the right to collect the payments for claims that are overdue and to hold negotiations over the conditions with the borrower. The licence also sets obligations such as managing complaints relating to the credit contract and informing the borrower of requirements set in the credit contract by the bank or creditor, or changes to the interest rates, fees or payments in the credit contract.
The members of the management board of OÜ GS Core are Sofia Kirsimaa and Kaspars Bālāboliņš.
Only debt collectors engaging in credit management activities, meaning claims arising from overdue credit contracts of credit institutions and creditors, need to apply to Finantsinspektsioon for a licence. The full list of licensed debt collection agencies will be published on the Finantsinspektsioon website in the register of market participants.