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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:
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?
Since 1993
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.
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
How many companies registries in Bulgaria for businesses (i.e. UK has just 1 central registry)?
1 central commercial register which include NPLE
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?
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?
Who are the main trading partners for Bulgaria?
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.
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.