CIS DRS

OUTSOURCING DEBT COLLECTION IN BULGARIA

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

How to deal with the debtor from Bulgaria if you do not have a local legal representative?

Companies may not have a direct way to effectively represent their interests in Bulgaria. Despite this, having a permanent legal representative in the buyer's country is not always the right decision. Firstly, the financial costs of an in-house legal department will always be high. Secondly, payment for the work of lawyers will be charged regardless of the circumstances in the absence of problematic counterparties or disputes. Thirdly, a multidisciplinary in-house lawyer will not be able to conduct high-quality negotiations, unlike the team of negotiators of the outsource debt collection agency. They focus on negotiations in many spheres and are ready to share experience.

There is a reliable alternative to all mentioned prior. The solution may be an external debt collection agency, which upon your request will resolve disputes with your counterparty and effectively manage a large portfolio of cases. You won't need to pay a monthly salary, rent an office, or fund additional expenses. Moreover, in the cases of pretrial negotiations, you have to pay for the work of the 3rd party debt collector only if the debtor made payment directly to your bank account.

It is better to entrust the portfolio to 3rd party debt collection agency

Submitting the portfolio of receivables to an outsource company has a number of additional benefits. For example, an outside collection agency that has an office in your debtor's country will be able to negotiate more efficiently and be more likely to convince the debtor to pay. Knowledge of the debtor's language and understanding of economic and cultural characteristics also contribute to the result.

In addition, the physical presence in the country of the debtor means that the company will be able to contact the debtor at the phone number, make site-visits and conduct the most effective information searches on the debtor in local databases. Most likely, the lawyers of such a company are personally acquainted with the owners of companies that hold leading positions in their industry in the country where your debtor is located. In this way, personal acquaintances with the debtor’s competitors will facilitate establishing effective negotiations with those responsible for the payment.

What do we do to provide our clients with extra-class service?

Sofia, Bulgaria
Our third party debt collection firm provides a full range of services related to debt collection. We conduct effective telephone negotiations, conduct face-to-face meetings directly with the owners of the debtor companies.

In addition to deep information research and site-visits to the offices of debtors, we use the OSINT investigation technique, which is used by the best American detectives. This solution allows not only to collect all available information about the financial condition of the debtor, its related companies and data about the owners. The technique allows us to structure all the necessary data and choose a negotiation tactic to secure the full amount of the debt as soon as possible.

Let us collect the debt for you!

Let us give you some advice. Don't hesitate! Enjoy all the preferences of outsourcing debt collection! Fill out the return form on our website, send all available details of your dispute and counterparty. Our team will analyze all the details and send their vision of the dispute resolution together with a commercial proposal in order to let you know how we can help.

Remember that you will always be aware of every step that we have taken towards resolving the dispute and returning funds to your bank account. An established system of regular reports will not leave questions and doubts about the fact that we are doing everything possible and impossible to return your money ASAP!

Please submit your debt collection request by filling out the 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 RECOVERY 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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