Debt Collection in Ukraine | Does your Ukrainian client delay the debt payment? Well, you must be anxious about getting your overdue payments especially when your business is getting affected due to decreased cash flow. You are not the only one suffering from debt disputes as most debtors delay paying the debt in Ukraine.
Here are a couple of suggestions which you can follow for debt collection Ukraine:
The trade cultural and the payment behavior of Ukrainian client is different from the ones you are used to. Moreover, people who have recently started a business in Ukraine are not familiar with the rules and regulations followed for debt recovery Ukraine. To deal with such matters, you should hire a lawyer. You can hire our associate debt collection lawyer to get your payments back from a non-paying customer. They know local legislation and deal with debtors in their native language. Legal attorneys use legitimate ways to make your debtors pay on time.
The concerns of creditors should be met before devising a plan for debt collection. Moreover, the reason behind delayed payments, amount of debt, nationality, and financial condition of debtor regulates the decision about which strategy one should follow. To deal with all this, you should get professional advice. Experts from our associate debt collection agency are always there to lend a hand and provide legal consultancy. They will guide you about the legal process for debt collection, provide an approximated success rate of your case, and tailor the recovery process as per your requirements under the legal umbrella.
Debt collection does not start through court procedures. Experts suggest that both parties should look for dispute settlement out-of-court. In case creditors do not get their money back, then the can opt for legal proceedings for debt collection Ukraine. Following are the details about debt recovery procedures:
At this stage, a solicitor arranges a meeting between debtors and creditors. Both parties negotiate under the supervision of a debt collection lawyer which ensures that local jurisdiction and code of conduct are followed. Installment based or other easy reimbursement plans are negotiated in the extrajudicial process
If the dispute remains unresolved in the extrajudicial phase then creditors can announce legal proceedings against the debtor. A debt recovery lawyer files lawsuit in court. In Ukraine, European order for payment proceedings is used if both parties belong from an EU member state. Once the court issue the legal notice for declaration of enforcement, debtors should pay off the outstanding debt to the creditors before the deadline reaches. In case of disputes debts, ordinary civil proceedings are followed for debt recovery Ukraine.
According to our No Win No Fee policy, if you do not get your debt back, then you will not be liable to paying service charges of our associate. In cased of unresolved or failed court cases for debt collection Ukraine, creditors are relieved from lawyers’ service charges.