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Check your contractor’s diligence

A new service is offered by the Bulgarian Chamber Of Private Enforcement Agents. The Chamber maintains a register of debtors in Bulgaria. It contains names of all companies and persons who have been sued successfully and enforcement proceedings has been initiated against them. In short there is a public register of people and companies who don’t pay their debts.

Access to the register has every law enforcement agent. They can provide information on particular company/person if you provide company number for companies and personal number for Bulgarian citizens. In order to check a foreign person, you need to provide just a name. The fee for this service is EUR 5  per person/company. More information can be found  here (in Bulgarian only)

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Bulgarian Debt Portfolios

  • 06.12.2009
  • , by 
  • by Milen Hristov
  •   1 Comments

World crisis struck Bulgaria too. Small and medium businesses are struggling for survival. Unfortunately in the same moment banks  are pressing the business too, by increasing the loan interests from 10% and more. This situation,however, is welcomed by the Factoring companies. They study the debtor companies and take advantage of those which has good market reputation and past stability.

Since there are only few Factors acting in Bulgaria, the market is not well developed. There are few more Factors, which buy Debt Portfolios but they are in the grey economy. Non-bank financial institutions are not yet at the Bulgarian Factoring market, although there is a very good perspective for collectable debt portfolios.

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