Serbia 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 the UK are as follows:
The local International Debt collection Partners know:
- The local cultures
- The languages
- The laws
- Are in the same time zones
Herewith details of our debt collection service Serbia
Location of office in Serbia
Number of staff
How long been operating in Serbia
What type of debts do you recover?
We do both commercial debt collection (B2B) and consumer debt collection (B2C)
Statute of limitation in Serbia
In accordance with the local law the statute of limitations for business-to–business claims is 3 years.
Corporate litigation in Serbia – depending on the complexity of the case, a litigation procedure may last from six months to several years
How many registries in Serbia for businesses? (i.e. UK just has 1 central registry)
1 central register – Serbian Business Registers Agency
What is the debt collection process in Serbia?
Initial communication to assess the debtor’s willingness and ability to repay the debt
(If you have all necessary documentation accompanying your business transactions, the whole process could be easier and relatively quick)
Warning letter to debtor (That in a significant number of cases this proves sufficient)
Submission of debt in Creditreform Group’s unique database. This database allows our clients to screen their prospect and existing clients and suppliers in order to ensure they have as much information as possible in order to make informed decisions.
Alert database members, which are related to the debtor, about the negative incident. Through this process we create leverage by adding pressure to the debtor to repay the debt as it affects their creditworthiness, credit scoring and general profile as well as their related entities. It also helps in the prevention of bad debts.
Court procedure or litigation more precisely, is what follows.
When litigation reaches its end with favorable verdict, the majority of debtors would simply comply with it and repay their debt. Yet, some, which leads us to the third part or enforcement proceedings. Here, an enforcement officer will try to collect everything, from money on bank accounts to real estates or other valuables, that debtor hasn’t been willing to hand over in the first place. And that usually concludes the whole creditor-debtor situation. Especially worth noting would be also the fact that in the majority of cases where a creditor-debtor position is occupied by companies, there is a possibility of skipping second step (litigation) and going straight to the third and last one (enforcement proceeding).
There are many unique requirements to recovering international debts in all countries including Serbia 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.