Debt Collection in Bulgaria

Unpaid invoices can quickly put business owners in a difficult situation. Here you can find out how you can protect yourself against the non-payment of your invoices.

Comprehensive solutions for your receivables management

The delay or complete lack of payment by an important client of yours can lead to serious consequences. Overdue receivables complicate the work process, lead to missed deadlines and uncertainty in commercial relations, which can easily reflect on your other business endeavors. You may need to perform atypical activity for your business, such as formulating and preparing payment requests, and the money blocked in outstanding debts can have a serious impact on your finances - it is not uncommon for late payments to lead to reduced company liquidity.

Do you want to manage your receivables more successfully, receive payments on issued invoices quickly or start legal proceedings? We can assist you by offering you suitable individual solutions throughout the entire process from case assignment, through sending payment invitations to the initiation and management of legal proceedings.

Thanks to our wide network of offices and partners, we can assist you in almost any country in the world.

Did you know...

There are two main approaches of avoiding overdue receivables and quickly collecting:

Prevention. Of course, no one wants to be in the role of a creditor whose payments are delayed and it is not certain whether any performance shall be received at all. For this purpose, it is extremely important to know your partners well in order to anticipate what to expect from them and how to react correctly when a situation arises. The corporate credit reports and monitoringoffered by Creditreform come to the rescue here.

Early assignment. If, however, the delay cannot be avoided, it is very important that the claims are collected as soon as possible. The faster you assign the case, the greater the probability that the debts would be collected!

Amicable debt collection

When your customers and partners delay payments or even avoid commenting on their obligations with you, contact us immediately!

Keep in mind that due debts negatively affect your company in several ways: not only can debt collection take a significant period of time, but they almost always result in additional costs. At the same time, the capital remains blocked and does not allow you to make payments or make new investments.

Our employees approach each client individually, will consider each specific case and will guide you to the best way to collect the debt. In this way, you will avoid any awkward and tense situations with your counterparties and you will be sure that the case is handled by professionals. Independent attempts to solve the problem, based on the idea that you will save costs are not recommended. In most cases, such endeavors would not lead to debt recovery, but instead may also cause irreparable damage both in your relations with partners and in collecting the debt. After all, when you have a toothache, you do go to the dentist, right?

Put your trust in us, we will negotiate the best options for you, we will fully comply with your requirements and at the same time we will keep a good tone with your debtor, so that you have the opportunity to work together again.

Debt Assignment

To assign us a claim for collection, simply contact us at the contacts provided. It is necessary to prepare in advance the necessary information and documents describing the obligation and send them to us as attachments. After our experts examine them, they will contact you to sign a contract and start processing the case.

Remuniration. For the debt collection services, a commission is due based on the collected amounts. It is determined based on the details of the specific claim, including: delay, amount of debt, company-debtor, etc. Commission is due on the "no pay - no fee" principle, i.e. only if a payment is received for the assigned case. This means that if we are unable to help you and no debt amount is collected, you would not owe any fee.

Multiple case assignment. If you have multiple overdue debts, you can assign them at once to take advantage of the lower commissions intended for our regular customers. Contact us for more information!

Assignment of claims against private persons. If your claim is directed against an individual, you can assign the collection case if the nature of the obligation allows it. For this purpose, you should make sure that you have foreseen such a possibility when concluding the contract with the individual, as well as that the assignment is in accordance with the General Data Protection Regulation and the Personal Data Protection Act. Contact us for more information.