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Commercial debt collection has some distinctive features than consumer debt collection. Therefore, this raises some questions regarding the methods and techniques of corporate debt collection. It is difficult to explain how to collect commercial debt in a few words, such as the history of any debt is individual. That is why, experts of collection agency GCS develop a special strategy of work with every concrete debt. The problematic situations, as their solutions are different, so it is better to tell about specific deals that we managed to resolve in favor of the client.
 
Forewarned is forearmed
 
One Ukrainian company “C..” owed another Ukrainian company “P..”, working in the market of professional equipment, 54 000 UAN for the supplied goods. The contract between the parties was not signed, since the management of companies was in friendly relationship. The client provided the fax receipt that the company “C..” received the goods on this amount. Co-workers of the company “P..” tried to collect the debt by own forces, but without any results.
 
After some time, the company “P..” contacted to GCS with appeal to collect this debt. GCS experts started the debt collection process and resumed the communication with the debtor. After some attempts they found out that debtor’s bank accounts are arrested and the company “C..” really cannot repay his debt. That is why GCS experts suggested alternative option – the debtor returns supplied goods to client. GCS experts drew up the evaluation act on the amount of 30 000 UAN, and, after some days, the goods were returned ion the client’s warehouse. But it was not the end. There was a necessity to find out how to pay the remaining amount – 24 000 UAN.
 
GCS specialists held a series of meetings with the director of the company-debtor, who denied existence of funds and refused to pay. Meanwhile, GCS got an information that the company “C..” concluded the contract for a large sum of money with the new partner. This meant that the debtor has the funds and continues his business activity.
 
GCS Ukraine experts swiftly responded to the situation and came for negotiations with the debtor. When the debtor understood that the representatives of the creditor know his plans, he started to repay his debt by parts. After 2 months the debt was paid fully. «Therefore, thanks to operative actions and understanding of debtor’s business activity, we collected the debt, that looked unpromising at the beginning,» –lawyer Ivanna Drach comments this situation.
 
If you cannot pay a debt – ask for help from partner
 
The company “A..”, located in UAE, contacted GCS Ukraine with appeal to collect the debt from Ukrainian airline “B..”.
 
Since the Client did not provide any proving documents, GCS experts tried to find the company details on their own. It has been found that the debtor’s website does not works and additional contact data are not available. That is why GCS team decided to find the data about co-workers, management, shareholders. They found the mobile phone of the former manager of airline “B..”, who already lived and worked on the territory of Switzerland.
 
GCS experts made a call to former manager and got from him the contacts of the business manager of the company-debtor. GCS team got in touch with the management of airline “B..” and appointed the meeting with the aim to clarify the circumstances of debt. The meeting took place but the negotiations with the head of the company-debtor did not lead to anything. It has been found that the debtor’s assets and bank accounts are arrested, and there is no possibility to pay his debt. As a confirmation, the debtor provided all the proving documents.
 
The situation was really complicated, therefore collection agency GCS started to look for the alternative solutions of this problem. After several meetings with management of airline “B..”, has been reached an agreement about payment of this debt through the debtor’s partners in USA, which agreed to help his partner in a hard time.
 
“It is possible to find solutions even for a bad debt, if you know how to find the correct strategy of work with debtor,” – Oksana Rudetskaya, leading specialist on debts collecting says.
 
Satisfied client – future partner
 
One Ukrainian company “P..” owed company “K..”, registered in Norway, 15 000 Euro for the supplied products. After some unsuccessful attempts to collect this debt by own forces, Norwegian company appealed to collection agency GCS Ukraine.
 
The company-debtor «Р..» ignored the letters and calls from the creditor “K..” and did not undertake any actions in order to start to pay his debt. To anything led the negotiations of GCS experts with the debtor – he denied availability of assets and did not wish to pay his debt. Nevertheless, during the debt collection process, GCS specialists found out that the debtor continues his business activity and visits Scandinavian countries often.
 
Not seeing any real prospects to , GCS experts made a conclusion: they should find an alternative way. For a long time collection agency GCS Ukraine has collaborated with one Norwegian company “S..”, that was responsible for control over the movement of vehicles on public roads on the territory of Norway. Since both companies were a good partners, the company “S..” was ready to assist GCS Ukraine in any matter. So this fact becomes decisive in following negotiations with the debtor.
 
GCS experts warned the debtor, if he does not pay his debt, the entrance on the territory of Norway can be prohibited for him. The debtor accepted this information and, understanding that the consequences of his actions against creditor can be really serious, decided to pay the debt.
 
This article shows us just some examples of methods of corporate debt collection in Ukraine, but the experience in debt collection only accumulates over the years. Therefore, in such a situations, you should contact those, who know how to help, if you want to collect the debt efficiency and in a short term.
 
Svetlana Kovalchuk
 
Debt collection agency
Global Credit Solutions Ukraine

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Successful methods and techniques of corporate debt collection in Ukraine.
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