Ethiopia 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. All our international offices and partners initiate the collection processes by sending the debtors a debt collection letter to introduce their involvement.
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 Ethiopia
Location of debt recovery office in Ethiopia
Addis Ababa. All debt collection letters are sent by the local head office.
Number of debt collection staff
Four staff. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response results from debtors.
How long have you been operating a debt recovery service in Ethiopia
What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)?
Principally Business debt collection as we have no specialization in consumer debt collection but we have proceeded to court on behalf of a client.
Statue of Limitation in Ethiopia
10 years for contractual debts
How EU (European Union) laws effect debt collection in Ethiopia?
It does not
How many companies registries in Ethiopia for businesses (i.e. UK has just 1 central registry)
There is a federal registration for all trading business and there is a comprehensive commercial code regulating businesses. The Ministry of Trade is the main registry organ, however,, foreigners go through the Investment Commission for any registration.
General comments regarding process in Ethiopia for debt collection and how differs from UK / other European countries:
What is the debt collection process in Ethiopia
Either consensual or judicial, if an individual chooses judicial then collection will be made using judgment of a judge and the execution department of the court.
Average length of time to collect a debt?
If it is through court then that will depend on the work load of the courts. The current average of length of a court case in Ethiopia right now is two years.
Can late payment fees / interest to be added to claims?
Yes, however it depends on the court judgment. The court may rule with or without the interest.
Details on legal service / process in Ethiopia
Only licensed or authorized individuals can bring the case to court, However, the judgment creditors can also bring their case before the court then the court after hearing both sides and evaluating evidence will give judgment and instruct the executive organ to implement the judgment.
Specialist Debt Recovery Experts
There are many unique requirements to recovering international debts in all countries including Ethiopia debt collection services which differ from the UK debt collection agency services 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.