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Bulgarian Debt Collection Lawyers
As Bulgarian lawyers in commercial law and litigation procedures, we work with many companies and physical persons who have got problems in collection debts in Bulgaria.
Should companies or individuals in Bulgaria be unable to pay their debts, entities dealing with debt collection in Bulgaria are advised to procure specialized legal help in order to complete all the legal procedures required for the purpose of recovery of stated debts. We support many legal entities and companies by working and extending their trade activities in Bulgaria.
Our international law office in Sofia, Bulgaria, is specialized in debt collection procedures in Bulgaria and provides professional legal services in commercial law and litigation procedures. We will be happy to represent you and your company, if you require legal actions to be taken regarding outstanding debts.
The main authority in Bulgaria responsible for debt collection in Bulgaria regarding public debts is the National Revenue Agency. Debt collection lawyers in a private sector are convincing debtors to pay their debts voluntarily by withholding certain benefits, should they be delayed in repaying their debts. Our clients work in many different fields and operate on the different countries’ markets. They expect from us, as Bulgarian debt collection lawyers, to support them legally by collecting their debts in Bulgaria.
Legal steps for debt collection in Bulgaria
The process of debt collection in Bulgaria consists of several phases. We, as debt collection lawyers in Bulgaria will advise you on what you need to do in purpose to get your money back, if you have trade partners in Bulgaria.
The whole procedures of debt collection in Bulgaria consists of simple steps at the start and might involve legal action, should it be required. Regardless of the selected method of approach to the debtor, the debt collection entities in Bulgaria should require a complete access to all the necessary debtor-related documents, including but not limited to: identification details, correspondence, contracts, agreements and invoices. Phase one of the debt collection procedure in Bulgaria is contacting the debtor and clarifying the details on the outstanding payment. Should the debtor fail to make a voluntary payment, the next step is sending an official letter.
The regular deadline for response to this letter would be ten days. Then, in case the debtor agrees to pay, the parties shall agree on a payment plan and calculate installments and a deadline for full repayment of the debt. These debt collection procedure in Bulgaria precede any contingent legal measures and they have the purpose of avoiding the more complicated debt recovery through a legal action.
Should the debtor fail to respond to pre-legal debt recovery, the legal action is the ultimate remaining option.
This process usually involves two phases: pre-litigation and litigation phase. A petition shall be filed to a Bulgarian court of competent jurisdiction. We, as a debt collections lawyer in Bulgaria support our clients and provide them with complete details for debt collection procedure in Bulgaria, as well as about the litigation procedures in our country. Please contact us for more detailed information click here