Watch the video to see how it works 

Debt Collection Agency in Bulgaria  

Watch the video to see how it works 

1. Costs - No Win No Fee! 

Having long standing relationships with all our overseas partners we have agreements to provide these services on a NO WIN NO FEE basis charging the agreed commission rate against monies recovered only. 

2. Coverage in Bulgaria 

Bulgaria is divided into 28 provinces with Sofia the capital city having the biggest population. Our local office is in Sofia enabling us to recover debts throughout all of Bulgaria. 

3. Local Experience 

Unlike many of our competitors all cases are handled by the local office or partner. The reasons for this are they speak the debtors' language, in the case of Bulgaria the most widely spoken language is Bulgarian spoken by 85% of the population. We understand the local cultures and know all the legal processes. These are reasons why Creditreform are the ideal people to help you in collecting debts from overseas. 

4. Statute of Limitation in Bulgaria 

5 years but there are many special exemptions so whatever the age please contact us and we will advise if we can assist with your claim 
Search a country below for debt collection: 

How to Instruct Us 

We simply require the following details: 
Full name & address of the debtor 
All available contact details of the debtor i.e. contact name(s) / Tel / Mobile / Email(s) 
Amount owed (Invoice(s) or Statement will help) 
PLEASE CALL US ON +44 121 442 5330 FOR FURTHER DETAILS 
Or ask us to call you – just leave us your details: 

Case Study - EUR 10,500 recovered from Bulgarian Debtor 

Initiation of Case 
 
A client of a Portuguese ships chandler, located outside Lisbon, had a debt of EUR 10,500. A debtor in Varna, Bulgaria, owed this debt. 
 
The debt related to services provided to vessels managed by the debtor on behalf of the owners. The client was not getting any replies from the debtor. So, they asked Creditreform to collect the debt for them. 
 
Debt Collection Processes 
 
When we received the instruction, we sent the case and documents to our local office in Bulgaria. They quickly sent an initial letter to the debtor. The letter stated the amount owed and the time frame to settle the debt. 
 
The debtor company acknowledged the debt but needed written authorisation from our client to deal with us. The letter was drafted and sent and the debt paid within a few days. 
 
Summary 
 
The client was more than happy with the services provided and has continued to use Creditreform services for its international debts

Bulgaria Debt Collection – No Win No Fee 

Creditreform operates a global specialist International debt collections service. We have local offices and fully approved expert international debt collection agency partners in every country worldwide. All our international debt collection partners and offices work on a No Win No Fee basis. They charge a set commission only on the money they recover. 
 
Here are the main reasons why a local debt recovery agency is better than a UK debt collection agency: 
 
The local International Debt collection Partners know: 
 
The local cultures 
The best methods of initiating debt recovery letters and processes 
The languages 
The laws 
Are in the same time zones 
 
Herewith details of our debt collection service Bulgaria: 

Location of debt recovery office in Bulgaria? 

Sofia. The local head office sends all debt collection letters. 

Number of debt collection staff? 

56. A manager assigns each staff member a client. Debt collectors personalize all collection letters to get the best response from debtors. 

How long have you been operating a debt recovery service in Bulgaria? 

We have been operating a European debt collection service on a no win no fee basis in Bulgaria since 1993. Bulgaria is included on our debt collection agency list. 

What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)? 

We handle both Business to Business debt recovery cases and Business to Consumer debt collections cases. Different templates exist for debt collection letters. Some are for business-to-business, and others are for business-to-consumer. 

Statue of Limitation in Bulgaria? 

In general, the time limits are as follows: 5 years for principal, 3 years for interest, damages, and rent. Freight claims have a limit of 1 year (CMR Conv.). Exceptions may apply. 
 
The statute of limitations for civil litigation in Bulgaria sets a time limit. This law restricts how long a plaintiff can wait to file a claim against a defendant. The statute of limitations in Bulgaria is 5 years. If someone acts during this time, the statute of limitations will extend. 
 
Once the specified time period ends, no one can take legal action. The plaintiff must prove exceptional circumstances to proceed. Other Statute of Limitations include: 
 
Bulgaria Open Account Years – 5 years 
Bulgaria Promissory Notes – 5 years 
Bulgaria Written Contracts – 5 years 
Bulgaria Oral Agreements – 5 years 

How EU (European Union) laws effect debt collection in Bulgaria? 

The GDPR has greatly affected how businesses collect data from consumers. Experts believe personal insolvency law will change because of the new Directive. 
 
Bulgaria has been a European Union (EU) member country since 2007. 

How many companies registries in Bulgaria for businesses? 

1 central commercial register which include NPLE. 
 
Bulgaria has one company registry called the Unified Trade Register of BCCI - Търговски регистър.. 

What is the debt collection process in Bulgaria? 

Depends on the debtor, in general includes debt collection letters, calls, e-mails, text messages, etc. 

Average length of time to collect a debt? 

The average time taken to recover a Bulgaria B2B debt collection case varies from case to case. It usually depends on the parties and the due amount - usually between 4 and 6 months. 

Can late payment fees / interest to be added to claims? 

Yes, but debtor rarely pays such. Exception is when the debtor tries to remain a customer of the client 

Details on legal service / process in Bulgaria? 

Legal collection (claim, not insolvency) takes between 1 and 2 years for the first instance. You must pay legal fees, such as court taxes, attorney fees, translation fees, and travel fees, in advance. 
 
You can appeal the judgment to the High Court or the Supreme Court. The legal fees are about the same for both. If successful, you can obtain a Writ of execution and initiate enforcement. Other fees apply for the enforcement. 
 
The client should provide copies of the unpaid invoices. They should also include a statement of account. This is important if there are partial payments or added interest. 

Bulgaria Business Credit Reports 

Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. We offer fresh Bulgaria Company Searches. You can do these searches before trading. This helps ensure the company can meet its commitments. 
 
You can also check after a debt is overdue. This way, you can see if the debtor can pay what they owe. 

Bulgaria Skip Tracing Agents 

Creditreform’s debt collection company service also uses expert local Bulgaria tracing agent services to locate any absconded debtor. This debtor tracing service is provided on a No Find No Fee basis only charging for a successful trace. 

Specialist Debt Recovery Experts 

Recovering international debts has unique requirements in each country. This includes Bulgaria, where debt collection services differ from those in the UK. It is very important that our expert international debt collection agencies handle these cases. UK debt collectors should not manage them. 
 
This way of collecting international debt makes Creditreform different from others. Many competitors only try to recover debts using a UK debt collector. Using local offices and partners helps us achieve a higher success rate. 
 
Our No Win No Fee service means you only pay if you win. We also offer competitive commission rates. This ensures you get the best service for the money you recover. 

Bulgaria Debt Collection Partners in the following Bulgarian Cities 

Which countries border Bulgaria? 

Bulgaria is bordered by Romania, Serbia, Macedonia, Greece and Turkey

Who are the main trading partners for Bulgaria? 

The main export markets for Bulgaria are Germany, Turkey, Italy, Romania and Greece
The top import countries for Bulgaria are Germany, Russia, Italy, Romania and Turkey

What is the legal system in Bulgaria? 

The Bulgaria legal system is based on Civil Law system influenced by Germanic and Roman law systems. 

What is the name of the Government Gazette in Bulgaria? 

The Gazette in Bulgaria is called the Darzhaven Vestnik (Държавен вестник) – Bulgaria State Gazette. 

What is the Supreme Court in Bulgaria? 

The Supreme Court in Bulgaria is called the Supreme Court of Cassation of Bulgaria, Supreme Administrative Court of Bulgaria. 

Bulgaria Debt Collection Agency FAQs 

1. How does a Debt collection agency in Bulgaria recover overdue debts? 

The debt collection process is initiated by an introductory letter to your debtor stating the amount owed to you and informing them of our involvement. Letters are then followed up with emails and telephone calls. From our experience the most effective part of this process will be the outsourcing to a third party debt collection agency in Bulgaria as the debtor now has to resolve the debt and can no longer hide or provide lame excuses. 

2. How long does the debt recovery agency in Bulgaria take to process a case? 

The debt collection case will be processed immediately up receipt and a letter sent normally by email and post. You will receive an automated confirmation by return. 

3. What is the success rate for debt collection agencies in Bulgaria? 

The success rate of the debt recovery case depends on a number of factors including the solvency of the debtor and whether the case has a legitimate dispute. Our aim is to recover every debt that is recoverable. 

4. Does the debt recovery agency in Bulgaria operate a No Win No Fee debt collection? 

We take on all debt collection cases on No Win No Fee basis only charging the agreed commission against monies recovered. 

5. Why use a local debt recovery agency in Bulgaria? 

The reasons for using a local Bulgaria debt collection agency than processing from a different country is the debt collector in Bulgaria speaks the local language, knows the local laws and operates in the same time zones. 

6. Are there any debts too old or too small for Bulgaria debt collection? 

We will assess all debt cases, irrelevant of age and size and then advise the best processes to recover these through the Bulgaria debt collector. 

7. How do I instruct the debt collectors in Bulgaria? 

Instructing the debt collectors Bulgaria is a simple process. You just email details of the debt, debtor and amount to be recovered and the case can be initiated. 

8. What evidence do I need to provide when instructing the Bulgaria debt collector? 

When instructing the debt collector in Bulgaria just provide copies of invoices/statements, debtor contact details and any relevant information you may have to assist with the recovery process. 

9. Who does the debtor pay? 

In general the debt collector in Bulgaria will request payments to be sent directly to the client but if not possible for any reasons will take payment directly. If payment is taken then cleared funds will be processed and sent to client straight away. 

10. Can I instruct multiple cases? 

You can send unlimited debt case instructions. Our systems will automate volume cases to meet your requirements. 

11. Can you trace debtors in Bulgaria? 

Through our network of skip tracing agents we have an extremely high success rate of locating your absconded debtor. 

12. How long does the debt collection process take? 

On average the debt collections process takes 90 days to resolve an amicable debt recovery case. There are a number of factors that can delay this process but we will keep you informed every step of the way. 

13. What are my options if debt collection in Bulgaria is not successful? 

If the debt recovery service is not successful we will advise you of your options including legal actions. Please note no legal actions or other processes will be taken without prior instruction from you.