CIS DRS

B2B DEBT RECOVERY IN BULGARIA

Debt portfolio management & Debt collection in BULGARIA
We recover your bad debts for the success fee.

Debt collection in Bulgaria - an overview

Debt collection can be seen as a difficult task for many businesses. Yet there are many companies worldwide, which struggle with it. When it comes to the collection of payments for bills many B2B companies tend to resolve the matter on their own when in reality they should enlist corporate debt collection services to receive help from professionals.

Bulgaria, just like other countries in Europe, has always had a good payment culture. As a rule, Bulgarian businesses are always on time with the payments. Nevertheless, there are still a significant number of companies, which struggle with the collection of debts from a business. In general, there are two ways of debt collection in Bulgaria: companies can recover the money in court or hire a B2B debt collection agency to carry out the task.

How does a business benefit from debt collection?

While many companies still prefer to recover the payments on their own, there is still the majority, which sees the advantages of a business collection agency as a solution to the problem of late payments:
1
Commercial collection agencies help to recover the payments in a fast and efficient way. There are some particular details, which B2B debt recovery agencies know and it proves them to be far more efficient.
2
Companies are able to concentrate on other important tasks while the recovery of payments is taken care of.
3
There is no need to hire additional employees and train staff for the purpose of debt collection.

CIS DRS approach for debt collection in Bulgaria

CIS DRS has many years of experience in the field of B2B debt collection and recovery. Our methods are proven to work since we understand the urgency and importance of the task. It is important to comply with the national legislation and our lawyers ensure that all actions in pursuit of debt collection in Bulgaria are carried out in accordance with national legislation.

Our research team finds additional information on the financial status of the company as well as other contact details at the first stage. Next, we try to establish contact with the debtor by sending a letter of first demand. Our lawyers negotiate the payment schedule and other technicalities after that. In case the debtor refuses to settle the payment amicably, we advise another way of collecting the debt, which is a court proceeding.

Hire a team of professionals for a successful recovery of payments

We believe that with the excellent client service principle it is possible to achieve the best result in a short period of time. That is why we have been holding to that principle for many years. We value our clients as well as their reputation and thus, we ensure that your payments are recovered as fast as possible.

Please submit your case via filling the following form below.
AT A GLANCE
Serving Clients in BULGARIA for more than two decades
Debt Collection
  • analysis of trade documents in default
  • credit check of the debtor's company
  • strategy for peaceful settlement
  • drafting official demand letters
  • phone negotiations with debtor
  • personal negotiations with debtor
  • drafting restructuring plan
  • control of installment payment
Debt Management
  • portfolio analysis
  • control of payment terms
  • timely reminders
  • soft communication with clients
  • advisory regarding billing cycles
  • reminders via emails
  • receivables control
Litigation
  • legal review of trade documents
  • translation of the documents
  • drafting a Power of Attorney
  • making a strategy of litigation
  • drafting and filing law-suit
  • application for assets seizure
  • participation in court hearings
  • obtaining judgment for client
Arbitration
  • legal review of arbitration clause
  • translation of necessary documents
  • drafting a Power of Attorney
  • making a strategy for arbitration
  • drafting and filing law-suit with IAC
  • application for assets seizure
  • participation in arbitration hearings
  • obtaining arbitral award for client
Enforcement
  • analysis of judgment or arbitral award
  • making a strategy of enforcement
  • drafting application for enforcement to local court
  • participation in court's hearings
  • obtaining writ of enforcement
  • filing the writ to Bailiff's Service
  • control of execution work
Bankruptcy
  • filing creditors claims
  • representing clients in creditors committee meetings
  • bankruptcy process monitoring
  • liquidators communication
  • regular reporting to client
  • assets recovery
DEBT COLLECTION IN BULGARIA
No Recovery-No Fee.
CLAIM PROCESSING
  • Verifying Debtor's Address
  • Checking Debtors' Status in Database
  • Brief Report to Client
  • Case Strategy Design
  • Confirmation Receipt
  • Claims Automation System
  • Case Processing Starts Immediately
NEW CLAIM
Our lawyers do their best to collect your credits
COLLECTION EFFORTS
1
2
3
3.1
  1. Get Proposal
  2. Forward for Client's Approval
  3. Collect Payment to Client
  4. CLOSE the File
Whether Debtor Responds Positively (if yes)
3.2
  1. Send In-house Demand Notice
  2. Whether Disputes (if yes)
  3. Get Proposal from Debtor
  4. Forward for Client's Approval
  5. Collect Payment to Client (if approved)
  6. Suggest Court Case If Worth (if no)
  7. CLOSE
Whether Responds Negatively (if no)
3.3
  1. Convince for Amicable Settlement
  2. Get Proposal
  3. Forward for Client's Approval
  4. Collect Payment to Client (if approved)
  5. CLOSE
Whether Disputes (if no)
4
You always receive reports regarding our efforts in time

  1. Current Status of Each Case
  2. Collection Efforts Our Lawyers Have Already Done
  3. What Should Be Done Further
  4. Expected Outcome Or Suggestion
REPORTING
NEED TO COLLECT YOUR DEBT?
WE CAN HELP YOU!

Just fill in the form and we will revert to you ASAP
FOR DEBT COLLECTION IN EUROPE:

TEL: +44-203-582-1943
EMAIL: europe@cisdrs.com

1 ROPEMAKER STR, LONDON,
EC2Y 9HT, UNITED KINGDOM

We work Monday to Friday, 9 AM - 6 PM (GMT)
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