The Norwegian Parliament has adopted a new Debt Collection Act to replace the current framework from 1988.
The law represents a comprehensive modernization of the debt collection industry and marks the end of several years of legislative work.
The new law provides a comprehensive framework for the collection of overdue monetary claims.
A key objective is to ensure that debt collection is carried out responsibly.
The law aims to balance the interests of creditors and debtors.
The law aims to create greater predictability in a rapidly evolving industry.
It also aims to improve the quality of debt collection.
Together with upcoming regulations, the law will guide the industry going forward.