Top-Rated Debt Collection Agency in Azerbaijan
Fast and reliable debt collection in Azerbaijan - no upfront costs, only pay for success. Request a FREE Consultation or upload your claim today.
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Recover your debt in Azerbaijan the easy way.
Debitura is an expert in debt recovery in Azerbaijan, providing various services such as accounts receivables management, debt collection notices, pre-legal and legal debt collection, and enforcement court proceedings. Our team of experienced professionals utilizes their knowledge of Azerbaijan debt collection laws and regulations to deliver efficient and effective solutions that assist businesses in recuperating overdue debts.
We provide unwavering assistance throughout the entire process.
Tailored debt recovery plan.
We have a team of over 500 experts who specialize in international debt collection.
Our debt collection service boasts a remarkable success rate of 87% which comes at the lowest possible cost.
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Expert-SM is an international law and business consulting company established in 2002. Since its establishment, our Company has gained a reputation of stable legal firm, which is ready to fulfill quickly and qualitatively tasks of any complexity
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The ultimate guide about debt collection in Azerbaijan
If you have money that someone else owes you from Azerbaijan, you are in the right place. We have helped hundreds of other businesses get their money back from people who owe them. It can be hard to get your money back from someone in another country, but we can help.
At Debitura, we always put people first. We try to get your money back while still being fair to the person who owes you money. Our strategic public relations efforts are always fair, but firm-ensuring your reputation is our top priority! If you want to collect the debt yourself and understand the Azerbaijani debt collection process from beginning to end, continue reading this guide. If you prefer working with a local law firm that specializes in debt recovery in Azerbaijan, we are here to help.
At Debitura, we provide an easy way to collect your debt in Azerbaijan and +192 other countries. You can start today by uploading your claim. We will assess your case and provide you with 3 free quotes from local debt collection lawyers in Azerbaijan within 24 hours. We use a people-oriented approach with the latest tech-driven solutions to drive results and provide better contact management. This comprehensive method gets the results you need while preserving customer relationships. In addition, our network of debt collectors, attorneys, suppliers and vendors are cherished relationships that allows us to get the job done. We value each of these relationships, no matter how small or large.
Upload claim
Get started with debt collection in Azerbaijan today at no cost! Simply create a free profile and upload your case in just two minutes.
Pre-legal
During the initial 3 months, we will attempt to recover your debt using our effective pre-legal collection method. It's important to note that our fee is only applicable if we successfully recover the debt.
Legal
If your claim remains unpaid during the pre-legal phase, we offer 3 quotes from our nearby debt collection lawyers to assist you.
24/7 updates
You get access to our online portal where you can track your case in real-time
Introduction to collecting debt in Azerbaijan
Do you have a hard time getting paid by your Azerbaijani customers? We can help. When collecting debt in Azerbaijan, the party who owes the debt is called “the debtor”, and the party who has issued the debt or invoice is called “the creditor”. If the original creditor collects the debt himself, this is called “first-party collection”. If the creditor outsources the collection process to a third party, this is called “third-party collections”.
The debt collection process in Azerbaijan
The debt collection process in Azerbaijan is done in more than one step.
The image below explains our standard process for collecting debt in Azerbaijan.
1 Upload your claim:
If you want someone to help you recover your debt, you will need to find a partner and upload your claim to their website. If you use Debitura, we will provide you with 3 quotes from local partners in the Asia country where your case is located. This service is free - there are no strings attached.
2 Amicable collection:
The collection process typically begins with sending reminders to your debtor via email, SMS, letter and all other available communication channels in the specific country. The goal is to get the debtor to pay or acknowledge the debt and start a payment plan. Debitura offers a no-cure-no-pay solution for amicable collection, where you only pay a small success fee if we recover your debt. Amicable collections with Debitura are 100% risk-free!
3 Evaluation:
If you have not received payment after trying to work things out, it is time to look at what to do next. We will look at the size of your claim and the chance of getting paid back to help you decide what to do. There are three typical next steps:
A: Surveillance:
If you claim is for less than 2,000 to 5,000 euros, it is often not worth it to take more legal actions. In this case, we recommend "debt surveillance." This means that we will keep trying to contact the person you owe money to and try to reach an agreement that is fair for both sides.
B: Legal collections:
We suggest beginning a set of legal steps if you have a big claim. The steps will be different depending on the kind and amount of your claim. Usually, it takes about 1-1.5 years to finish these steps.
C: Debt enforcement:
If the person you are trying to get money from has said they owe you money or if a court has said they owe you money, you can go to the bailiff's court to get the money from them.
At Debitura, we can help you with all three steps in Azerbaijan.
Amicable collection in Azerbaijan
At Debitura, we offer a process for Amicable collections that is 100% risk-free and very efficient. Simply submit your claim, and we will get started within 24 hours.
We will contact your debtor in Azerbaijan using different methods, like email, text messages, letters, phone calls, and social media.
The goal is to:
A) Get them to pay the full amount all at once.
B) Get them to agree that they owe the money and make a plan to pay it back in smaller amounts over time.
If the person you are trying to get money from has said your claim is not true, you cannot try to resolve this issue without involving legal collections.
Get started with
amicable debt collection
Upload your claim and get started with our 100% no-cure-no-pay collection solution.
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Legal collection in Azerbaijan
If the person you are asking for money from has not paid you yet, or if they say they do not owe you money, we will give you 3 free quotes from our local debt collection attorneys. In the legal phase, our local attorney will contact your debtor and try to negotiate a payment. Our partners can also go to court and get an order that says the debtor owes you money. This payment order can then be used to make the debtor pay you via enforcement court.
Legal fees depend on how big and complicated your claim is. To get the best price, ask for quotes from more than one attorney. You can do this easily by using Debitura.
Get started with
legal debt collection
Upload your claim and get 3 FREE quotes from our local collection partners.
Debt enforcement in Azerbaijan
If you have a written acknowledgement of your claim from the debtor, or court order, you can use the bailiff's court in Azerbaijan to enforce your claim there.
The process and how much it costs varies depending on your situation. You can upload your case onto Debitura to get three different quotes from within 24 hours.
Get started with
debt enforcement
Upload your claim and get 3 FREE quotes from our local collection partners.
Insolvency proceedings in Azerbaijan
If the person you owe money to can't pay you back, you can start an insolvency procedure. This means selling their things and giving the money to the people they owe in order from most important to least important.
Our analysis concludes that the risk of running a business in Azerbaijan is medium. Based on this medium score, we recommend being careful providing credit and considering charging upfront payment or using credit insurance when trading if you don't know the customer in Azerbaijan well. If possible, provide a short credit period or even better upfront payment. The medium risk analysis is based on the going through these risk factors:
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The economic risk in Azerbaijan
Our conclusion based on the economic risk factors, is that the economic risk in Azerbaijan is high (5 out of 6). An economic risk of 5 out of 6 is relatively high in Asia.
GDP and economic growth are critical drivers for economic risk.
The GDP of Azerbaijan is 54,62 bn. USD (2021), growing by 5,6% per year.
In terms of the size of its economy, Azerbaijan ranks #82 out of 183 countries and has a medium-sized economy.
Looking at the growth rate, it is ranked #70 out of 183 countries and is therefore considered a fast-growing economy.
GDP per capita is 5384 USD, ranking Azerbaijan number #90 out of 183 countries. This means the purchasing power of citizens in Azerbaijan is pretty average compared to all the countries in the world.
You can see a more detailed picture of GDP and economic growth in Azerbaijan in the table below:
Another critical driver for the economic risk score is the inflation rate and the interest rates. You can see a more detailed picture of monetary KPIs in Azerbaijan in the table below:
The inflation in Azerbaijan was 6,7% in 2021 which, unfortunately, is considered a quite high inflation rate.
The interest rate for businesses is 16,43%.
The business environment risk in Azerbaijan
Our analysis shows that the business environment risk in Azerbaijan is medium-high (4 out of 6), which is a pretty average risk score in Asia.
Economic freedom and rights has a big influence on the business environment risk in a country. The critical facts for Azerbaijan in the table below:
As you can see in the table, the property rights index is 68 in Azerbaijan, which is considered pretty average in Asia.
The business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study. The Index is 81 in Azerbaijan, a decent score for a country placed in Asia.
Azerbaijan's overall economic freedom index is 70 out of 100 and is based on factors such as the rule of law, regulatory efficiency, and market openness.
The political risk in Azerbaijan
The political risk in Azerbaijan is high, with a score of 5/6. This is a relatively high political risk score in Asia.
The governance and political stability indicators are vital drivers for political risk. An overview of Azerbaijan can be seen in the table below:
The rule of law index analyses to which extent agents have confidence in and abide by the rules of society, in particular the quality of contract enforcement, property rights, the quality of the courts, and the police's ability to enforce court orders.
When transacting business in a country, the rule of law index is critical as it describes your ability to enforce commercial contracts.
In Azerbaijan, the rule of law index is at -0,58 points, with the score going from -2.5 (weak) to 2.5 (strong). Azerbaijan has, therefore, a very low rule of law index, which means it is often close to impossible to enforce your contracts. We, therefore, recommend avoiding credits and recommend charging upfront payment instead.
Other drivers for the high political risks are the very weak control of corruption, the very weak political stability index, and the very large shadow economy that is 43,66% of Azerbaijan's GDP.
The commercial risk in Azerbaijan
In Azerbaijan, the commercial risk score is 2/4, which in our model is a low score. This low commercial risk score is pretty average compared to the average in Asia.
The commercial risk is relying on a country's international trade relationships. You can see some of the key facts for Azerbaijan in the table below:
Azerbaijan has a foreign exchange reserve of 8.31 bn. USD.
Azerbaijan has a positive trade balance of 16,75% of GDP. This means that Azerbaijan imports fewer goods and services than the country exports.
The financing risk in Azerbaijan
We have calculated the financing risk to be 3/4, which equals a medium risk. A medium financing risk score is pretty average for countries in Asia.
The country's banking system, efficiency, and stability influence the financing risk. You can find the extra information for Azerbaijan in the table below:
In Azerbaijan, the credit information sharing index is 8 on a scale from 0 (low) to 8 (high). This means the accessibility and quality of credit information available in Azerbaijan is high.
This makes it easy for you to understand the credit risk of your counterpart in Azerbaijan. You should therefore be able to find a good local credit rating agency that can help you analyse the creditworthiness of your specific customers.
Your rights as a creditor are 12 out of 12 and, therefore, very strong.
The medium financing risk for creditors also impacts the high interest rate in the private sector of 16,43%.
Debt Collection in Azerbaijan - Commonly Asked Questions (FAQ)
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Debt collection in Azerbaijan involves the debtor (the one who owes the debt) and the creditor (the one who issued the debt/invoice). There are two collection types: first-party and third-party. The standard debt collection process in Azerbaijan includes uploading the claim, amicable collection, and evaluation. Depending on the claim size, debt surveillance, legal collection, or debt enforcement can be pursued. Debitura offers a risk-free amicable collection solution and can assist with all three steps in Azerbaijan.
The debt collection process in Azerbaijan involves pre-legal collection, legal debt collection, and debt enforcement. Firstly, upload your claim to a partner's website. Secondly, attempt amicable collection by sending reminders to the debtor. If this fails, evaluate your options based on the claim's size and chances of repayment. Options include: surveillance for small claims, legal collections for larger ones, and debt enforcement if the debtor acknowledges the debt. Debitura can assist with all three steps in Azerbaijan.
In Azerbaijan, if a debt is disputed, a civil lawsuit is required for legal debt collection. Debt enforcement and insolvency proceedings are also available options. Local legal representation is necessary for legal actions. Legal fees depend on the complexity of the claim. If debtors cannot pay, insolvency proceedings can be initiated to sell their assets and pay back creditors. Our local debt collection attorneys can help with legal proceedings in Azerbaijan.
At Debitura, we offer a no-cure-no-pay model for pre-legal debt collection with a success fee between 10-20%. The cost for legal actions varies depending on your case and requirements. We can provide you with 3 quotes from the best debt collection lawyers in Azerbaijan.
The length of debt collection in Azerbaijan varies depending on the debtor and the case. If the case can be resolved in the pre-legal phase, then it may take around 3-6 months. However, if legal action is necessary, then the process may typically take longer, around 12-18 months. The duration ultimately depends on the particular circumstances of each case.
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