Ukraine 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 languages
- The laws
- Are in the same time zones
Herewith details of our debt collection service Ukraine
Location of debt recovery office in Ukraine?
Kiev
Number of debt collection staff?
4 employees
How long have you been operating a debt recovery service in Ukraine?
Since 2006
What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)?
We do both commercial debt collection (B2B) and consumer debt collection (B2C).
Statue of Limitation in Ukraine?
limitation period – 3 years
How EU (European Union) laws effect debt collection in Ukraine?
Little impact
How many companies registries in Ukraine for businesses (i.e. UK has just 1 central registry)?
1 central registry in Ukraine
What is the debt collection process in Ukraine?
Preparation of documents proving existence of accounts payable (loan agreement, account statement and/or calculation of debt, cash advance application, etc.);
- lodging a complaint against debtor, if the agreement or law provide for complaint lodging procedure;
- preparing and filing an application to court for debt collection;
- participation in court hearings;
- entry of court ruling in the bank’s favor.
The most widely-used and efficient method of securing a complaint is a court ruling placing a debtor’s property under arrest, which means that a debtor is temporarily deprived of the right to manage his property. The court may rule to arrest a debtor’s property on lawful grounds after hearing a creditor’s application for security of complaint, which must explain the circumstances necessitating, in the applicant’s opinion, the placement of arrest. The application must also meet other requirements of the procedural law. The degree of justification and commensurability of debt with the placement of debtor’s property under arrest is decided by court in every particular case.
Under Article 25 of the Law of Ukraine On Enforcement Proceedings a state enforcer is obliged to accept an enforcement writ for enforcement and open enforcement proceedings, if the deadline for enforcement of this writ has not expired yet, the writ meets the applicable requirements of law and was presented for enforcement to the appropriate body of SES. A resolution on the opening of enforcement proceedings must be issued within three business days after receiving an enforcement writ, and the copies thereof must be served to the collector and debtor by the following business day.
At collector’s request, a state enforcer may, at the same time with issuing a resolution on the opening of enforcement proceedings, may place the debtor’s property and funds under arrest by issuing an appropriate resolution.
It is important to remember that a state enforcer must enforce collection of debt within six months after a resolution on the opening of enforcement proceedings was issued.
Average length of time to collect a debt?
3 to 5 years
Can late payment fees / interest to be added to claims?
Depends on a particular case
Ukraine Business Credit Reports
Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. Total businesses registered in Ukraine is over 2.5 million. Through our online databases you can download Ukraine business credit reports instantly. This 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.
Specialist Debt Recovery Experts
There are many unique requirements to recovering international debts in all countries including Ukraine 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.
