GCS Ukraine announces first successes in debt collection on disputed territories of Ukraine:
south-east Ukraine, territory of armed conflict or Anti-Terrorist Operation (ATO) area;
Crimea, the disputed territory between Russia and Ukraine.
Since some regions of Ukraine became disputed territory between local rebels, Russia and Ukraine, it raised a great challenge on how to collect debts in situation when the parties are separated by front line or unrecognized border.
However, despite of numerous problems with money transfers, recognition of documents and banal dislike between parties on the different sides of the line, economical relations are not the things easy to tear apart. So though changes in legislation and uncertain status of territories makes it hard to go legal in court, still debts are mostly recognized by all the parties and being successfully negotiated at the stage of soft collection.
Fortunately, debt collection business like most of the services did not suffer much from sanctions like real sector of economy. Debt collection company intermediating is now is even more important and essential for clients than ever before.
Particularly, in September 2015 GCS Ukraine managed to collect first debt from the very heart of ATO in the favor of client from mainland of Ukraine.
The further, the better. With situation calming down, many companies managed to move their assets to peaceful territory of Ukraine and started recovery, so we were able to negotiate their first payments to cover the debts.
Surprisingly, situation with south-east is even better than with relatively peaceful Crimea, which is quite intensively monitored and blocked by Ukrainian government. Particularly direct payments from Crimea to Ukraine is real problem. Nevertheless, solutions like selling debt to Ukrainian mainland or personal payments to cover commercial debts are tested and proved to work well.
So despite of all the difficulties, we do not fold our hands and continue working. Some businesses are lost, some are in big troubles, but GCS Ukraine nevertheless may collect debts in most of the cases.
Vitaly Shevel, GCS Ukraine