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) 
Or ask us to call you – just leave us your details: 

Case Study - EUR 10,500 recovered from Bulgarian Debtor 

Initiation of Case 
A Portuguese ships chandler client based outside of Lisbon had a EUR 10,500 debt against a debtor in Varna, Bulgaria. The debt related to services provided to vessels managed by the debtor on behalf of the owners. As the client was not receiving any responses from the debtor they instructed Creditreform to pursue the debt on their behalf. 
Debt Collection Processes 
Upon receipt of the instruction the case and documentation was forwarded to our local office in Bulgaria who immediately sent out their initial letter to the debtor stating amount owed and the a timeframe 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. 
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 agency partners and offices operate on a No Win No Fee basis charging an agreed commission against monies recovered only. 
Main reasons why a local country debt recovery agency is so important rather than trying to recover from a debt collection agency UK are as follows: 
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. All debt collection letters are sent by the local head office. 

Number of debt collection staff? 

56. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response result s 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. There is different content for business to business debt collection letter templates and business to consumer debt collection letters templates

Statue of Limitation in Bulgaria? 

In general: 5 years for principal, 3 years for interest, damages, liquidated damages, rent, etc., 1 year for freight claims (CMR Conv.). Exceptions may apply. 
Bulgaria civil litigation statute of limitations is a law that time limits a plaintiff’s right to bring a claim against a defendant. The statute of limitations in Bulgaria is 5 years. However, if an action has been taken within this time then the statute of limitations time will be extended to account for this. Once the specified time period elapses then no action can be taken through the legal processes unless the plaintiff is able to prove exceptional circumstances. 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 impacted the B2C collection, personal insolvency law is expected based on the new Directive. 
Bulgaria has been a European Union (EU) member country since 2007. 

How many companies registries in Bulgaria for businesses (i.e. UK has just 1 central registry)? 

1 central commercial register which include NPLE. 
There is 1 company registry in Bulgaria which is called Unified Trade Register of BCCI - Търговски регистър. 
We have access to Bulgaria Company Registry searches to find out who further background information on all Bulgaria companies. 

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. Legal fees (court taxes, attorney fees, translation and travel fees, etc.) are due for its initiation and must be prepaid. The judgment can be appealed before the High court and the Supreme court, the legal fees are roughly the same for each instance. If successful, a Writ of execution can be obtained and enforcement initiated. Other fees apply for the enforcement 
It is recommended that the client presents copies of the outstanding invoices, as well as a statement of account, especially if partial payments or interest is added;. 

Bulgaria Business Credit Reports 

Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. We provide freshly investigated Bulgaria Company Searches which can be done prior to trading to make sure the company you will be dealing with can meet the commitment or once the debt becomes overdue to ensure the debtor can meet the amount owed. 

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 

There are many unique requirements to recovering international debts in all countries including Bulgaria debt collection services which differ from the UK and therefore it is very important that cases are handled directly by our expert international debt collection agencies and not from debt collectors UK. This method of international debt collection sets Creditreform aside from the competition who in many cases try and recover debts from a UK debt collector only. Using the local offices and partners enables us to achieve a far greater success rate and our No Win No Fee service together with competitive commission rates against monies recovered only ensures you get the best service. 

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. 
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