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collect debt in Ukraine
As in previous articles, debt collection agency GCS Ukraine continues to explain how to collect debt in Ukraine and shows you all the distinctive approaches to every individual corporate debt.

Many ways to pay the debt

The company “O..”, located in  partially recognized state Transnistria, contacted to GCS Ukraine with the apply to collect debt in Ukraine from the company “K..”.

GCS Ukraine experts started negotiations and held several meetings with the Managing Director of the company-debtor “K..” and as a result, they agreed to pay the debts by parts.
But the new problem arose suddenly.  Almost all of Ukrainian banks refused to transfer foreign exchange to Transnistria.
However, GCS experts found a new solution – they adviced to make a payment of  this debt on the account of client’s offshore company in Cyprus. GCS Ukraine team helped to prepare and sign the novation agreement between creditor and debtor.

The first debtor’s payment has been sent successfully to the creditor. But the second payment has been sent back to the debtor, because the National Bank of Ukraine published a resolution 581, according to which, the companies are prohibited from buying foreign currency to fulfill their obligations on an import contract, if the customs registration of such contract took place before 1 January 2014.

Despite this, GCS experts found the new solution again –  to pay the debt through Golden Crown Money Transfer.

In this way the debt was paid in full.

Successful debt collection in ATO zone

The company “R..” appealed to GCS Ukraine with the request to collect debt in Ukraine.
The company “R..”tried to collect the debt by own forces, but without any results. They needed help especially because the company-debtor “ V..” that owed 40 000 USD, was located in ATO  (Counter-terrorist operation) zone.

We all know about difficulties in doing business, in particular, debt collection on the territory of ATO zone. Most of payment systems and banks do not work there.

Despite this, GCS Ukraine started debt collection process.
Since the provided contact data were disabled, GCS experts started to look for the company details on their own.
After long searches GCS team found the contact data of shareholders of the debtor’s company and got in touch with the management of debtor’s company. The Managing Director of the company “V..” informed that the company-debtor changed its location and opened a new office in other city. As far as the debtor continued its business activity, GCS Ukraine team just persuaded to repay his debt.

“Even if the debtor is located in ATO zone, it does not mean you should forget about your debt, in some cases there is the possibility to collect this debt, – Oksana Rudetskaya, leading specialist on debt collecting says.

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