Debt Collection in Bulgaria

This service is designed for businesses and individuals, including foreign creditors, seeking to recover debts in Bulgaria. It's particularly useful for those dealing with unpaid invoices, loan defaults, or other forms of financial obligations where the debtor has failed to pay.

• Proof of debt (contracts, invoices, promissory notes)

• Correspondence with the debtor regarding the debt

• Payment history and records

• Debtor's details (address, company registration if applicable)

• Any collateral agreements related to the debt

1. Review all documentation related to the debt

2. Verify the legal validity of the claim

3. Send formal demand letters to the debtor

4. Negotiate payment plans or settlements when possible

5. If needed, initiate court proceedings for debt recovery

6. Apply for enforcement orders or writs of execution

7. Work with bailiffs to enforce court decisions

8. Monitor and manage the entire collection process

• Thorough understanding of Bulgarian debt collection laws

• Skilled negotiation to maximise debt recovery

• Strong representation in court if legal action is necessary

• Protection of your financial interests

• Clear communication in English throughout the process

• Efficient handling of complex collection procedures

• Comprehensive assessment of debt recovery options

• Strategic advice on the most effective collection methods

• Expert handling of both domestic and cross-border debts

• Support in alternative dispute resolution for debt settlement

• Representation in litigation for debt recovery

• Assistance with enforcement of judgments

• Ongoing updates on the progress of your case

Our debt collection service in Bulgaria is grounded in several key laws. The Obligations and Contracts Act (Закон за задълженията и договорите) forms the basis for contractual obligations and debt claims. The Commerce Act (Търговски закон) is crucial for commercial debts and provides for specific procedures like the order for immediate enforcement.

We also work within the framework of the Civil Procedure Code (Граждански процесуален кодекс), which outlines the court procedures for debt recovery and enforcement. For cases involving foreign creditors or debtors, we consider the Private International Law Code (Кодекс на международното частно право).

The Law on Special Pledges (Закон за особените залози) is relevant when dealing with secured debts. Additionally, we utilise the Law on Private Enforcement Agents (Закон за частните съдебни изпълнители) when working with bailiffs to enforce court decisions.

Our team stays informed about any changes to these laws to provide you with the most effective strategies for debt recovery in Bulgaria.