Top-Rated Debt Collection Agency in Belarus
Fast and reliable debt collection in Belarus - no upfront costs, only pay for success. Request a FREE Consultation or upload your claim today.
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Recovering your debt in Belarus can be made easy with this method.
Debitura focuses on debt recovery services in Belarus, providing a wide range of solutions such as accounts receivables management, debt collection notices, pre-legal and legal debt collection, and enforcement court proceedings. Our experienced team of professionals is well-versed in the Belarusian debt collection laws and regulations, allowing us to deliver efficient and effective debt recovery services to businesses.
We provide continuous assistance from beginning to end.
Tailored debt recovery approach
"We have a team of over 500 international debt collection experts."
Our success rate in debt collection is 87% and at the same time, we offer the lowest cost.
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The Law firm "Economic disputes" provides full legal support of business disputes as in Belarus, as well as abroad. Our strong sides are: narrow specialization high efficiency in solving problems, special attention to details, flexible model of cooperation with clients and timely completion of set tasks.
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Legal services for individuals and companies
The ultimate guide about debt collection in Belarus
If you have money that a business or person in Belarus owes you, you are in the right place. We have helped many other businesses get their money back from people in Belarus.
Collecting a debt from someone in Belarus can feel impossible. Things that make it hard include different languages and customs, foreign laws, and the distance between us.
When you use a collection agency that knows the laws and customs of the country where the debtor lives, it is easier to get your money back.
At Debitura, we always try to help you get your money back while still being fair to the person you lent it to. Our efforts are always firm but fair- ensuring that your reputation is our top priority! If you want to learn more about how to collect debt in Belarus yourself, keep reading this guide. If you would rather work with a local law firm that specializes in debt recovery in Belarus, we can help you with that too.
At Debitura, we provide an easy way to collect your debt in Belarus and other countries. To get started, upload your claim today. We will assess your case within 24 hours and provide you with 3 free quotes from local debt collection lawyers in Belarus. We use a combination of people skills and the latest technology to get results and manage customer contact information. This complete method gets you the outcomes you desire while maintaining customer relationships. Furthermore, our network of debt collectors, attorneys, suppliers and vendors are all important relationships that enable us to get the job done. We treasure each of these relationships, no matter how big or small they may be.
Upload claim
Begin the process of collecting your debt in Belarus with ease today, without any cost. Simply create a free profile, and upload your case in just 2 minutes.
Pre-legal
During the initial 3 months, we will use our effective pre-legal recovery process to attempt collecting your debt. Our payment policy is 100% no-cure-no-pay.
Legal
If your debt has not been paid before legal action, we can offer you three quotes from our local debt collection attorneys.
24/7 updates
You get access to our online portal where you can track your case in real-time
Introduction to collecting debt in Belarus
Do you have trouble getting paid by your customers in Belarus? Do not worry; we can help you get paid easily.
The person who owes money is called the debtor. The person who gave them the money is called the creditor. If the creditor collects the debt, it's called first-party collection. If someone else does it, it's called third-party collections.
The debt collection process in Belarus
In Belarus, there are usually multiple steps to the debt collection process. The image below shows the standard way to collect debt in Belarus:
1 Upload your claim:
If you want someone to help you get your money back, you will need to find a debt collection partner. You can upload your claim to their website. If you use Debitura, we will provide you with 3 quotes from local partners in the European country where your case is taking place. This 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 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. If we are successful in collecting your debt, you will only pay a small success fee. Therefore, Debitura's amicable collections are 100% risk-free!
3 Evaluation:
If the person you are asking for money has not paid you back after you have talked to them, it is time to look at what to do next. We will look at how much money you are owed, the chance of getting paid back, and other things to help you decide what is the best thing to do. There are three typical next steps:
A Surveillance:
If your claim is less than 2.000-5000€, it may not be worth it to take any more legal action. In this case, we recommend "debt surveillance." This means that we will keep trying to talk to your debtor and try to reach an agreement that works for both of you.
B: Legal collections:
It's a good idea to begin a legal process if you have a big claim. The steps you will need to take will vary depending on the specific details of your claim. Usually, it will take around one to one and a half years for the process to be completed.
C: Debt enforcement:
If the person you are claiming money from has said that they owe you money or if there is a court order, you can go to the bailiff's court to get your money.
At Debitura, we can help you with all three steps in Belarus.
Amicable collection in Belarus
At Debitura, we offer a 100% risk-free and efficient process for Amicable collections. All you have to do is submit your claim, and we will get started within 24 hours.
We will contact your debtor in Belarus using email, text messages, letters, phone calls, and social media.
The goal of this process is to either:
A) get the debtor to pay the full amount or
B) get the debtor to agree that they owe the money and start a plan to pay it back
If the person you are trying to collect money from has disputed your claim, you cannot try to resolve it peacefully. You must start with legal collections.
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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 Belarus
If the person you owe money to does not pay you back, or if they dispute your claim, we will give you 3 free quotes from local debt collection attorneys. In the legal phase, our local attorney will reach out to your debtor and try to negotiate a payment. Our partners can also go to court and get a payment order via the legal system in Belarus. This payment order can then be used to enforce your claim via enforcement court.
The amount of money you will need to pay a lawyer depends on how big and complicated your case is. To get the best price, ask for quotes from more than one lawyer. 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 Belarus
If you have gotten written proof that the person you are suing owes you money, or a court order, you can go to the bailiff's court in Belarus to get your money.
The process and how much it will cost varies depending on your situation. You can upload your case onto Debitura to get 3 different quotes from within 24 hours.
Get started with
debt enforcement
Upload your claim and get 3 FREE quotes from our local collection partners.
The analysis is concluding that the risk of running a business in Belarus is medium-high. Based on this medium-high score, we recommend always charging upfront payment or using credit insurance when trading with customers in Belarus, as it may be very difficult to get paid. The medium-high risk score is based on the following factors:
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The economic risk in Belarus
Our conclusion based on the economic risk factors, is that the economic risk in Belarus is very high (6 out of 6). An economic risk of 6 out of 6 is high in Europe.
GDP and economic growth are critical drivers for economic risk.
The GDP of Belarus is 68,22 bn. USD (2021), growing by 2,51% per year.
In terms of the size of its economy, Belarus ranks #72 out of 183 countries and has a medium-sized economy.
Looking at the growth rate, it is ranked #136 out of 183 countries and is therefore considered a slow-growing economy.
GDP per capita is 7304 USD, ranking Belarus number #79 out of 183 countries. This means the purchasing power of citizens in Belarus is average compared to the rest of the world.
You get a more detailed idea of GDP and economic growth in Belarus in the table below:
Another critical driver for the economic risk score is the inflation rate and the interest rates. You get a more detailed idea of monetary KPIs in Belarus in the table below:
The inflation in Belarus was 9,5% in 2021 which is considered a high inflation rate.
The interest rate for businesses is 10,12%.
The business environment risk in Belarus
Our analysis shows that the business environment risk in Belarus is medium-high (4 out of 6), which is a high risk score in Europe.
Economic freedom and rights determine the business environment risk in a country. Take a look at the important facts for Belarus in the table below:
As you can see in the table, the property rights index is 59 in Belarus, which is considered quite low in Europe.
The business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study. The Index is 76 in Belarus, a quite average score for a country in Europe.
Belarus's overall economic freedom index is 61 out of 100 and is based on factors such as the rule of law, regulatory efficiency, and market openness.
The political risk in Belarus
The political risk in Belarus is very high, with a score of 6/6. This is a high political risk score in Europe.
The governance and political stability indicators are critical drivers for political risk. An overview of Belarus can be seen in the data 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 trading with businesses in a country, the rule of law index is critical as it describes your ability to enforce commercial contracts.
In Belarus, the rule of law index is at -1,1 points, with the score going from -2.5 (weak) to 2.5 (strong). Belarus 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 very high political risks are the very weak control of corruption, the very weak political stability index, and the large shadow economy that is 32,37% of Belarus's GDP.
The commercial risk in Belarus
In Belarus, the commercial risk score is 3/4, which in our model is a medium score. This medium commercial risk score is pretty average compared to the average in Europe.
The commercial risk is impacted by a country's international trade relationships. You can see some of the key facts for Belarus in the table below:
Belarus has a foreign exchange reserve of 8.42 bn. USD.
Belarus has a positive trade balance of 5,48% of GDP. This means that Belarus imports fewer goods and services than the country exports.
The annual growth of exports of goods and services has been growing 9,5% annually - now 72,11% of GDP. Import of goods and services represents 66,63% of the GDP in Belarus.
The financing risk in Belarus
We have calculated the financing risk to be 4/4, which equals a high risk. A high financing risk score is high for countries in Europe.
The country's banking system, efficiency, and stability influence the financing risk. You can find the extra information for Belarus in the table below:
In Belarus, the credit information sharing index is 7 on a scale from 0 (low) to 8 (high). The consequence of that number, is that the access and quality of credit information available in Belarus is medium-high.
This makes it easy for you to understand the credit risk of your counterpart in Belarus. 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 juridical rights as a creditor are 3 out of 12 and, therefore, very weak.
The high financing risk for creditors also impacts the high interest rate in the private sector of 10,12%.
Debt Collection in Belarus: Commonly Asked Questions (FAQ)
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In Belarus, the debt collection process usually involves multiple steps such as sending reminders to the debtor via various communication channels. If the debt isn't repaid, legal action may be necessary. Debitura can provide debt collection services in Belarus, including debt surveillance, legal collections, and debt enforcement. You can upload your claim to our website and get 3 quotes from local partners for free. Our amicable collections are risk-free, and we only charge a small success fee if we successfully collect your debt.
In Belarus, the debt collection process typically involves pre-legal collection, legal debt collection, and debt enforcement. First, you can upload your claim to a debt collection partner's website. Then, they will try to collect the debt amicably through reminders and payment plans. If that doesn't work, the next steps depend on the size of the claim. For smaller claims, debt surveillance is recommended, while larger claims may require legal action and possible debt enforcement through the bailiff's court. Debitura can assist with all three steps in Belarus.
If the debt is disputed, a civil lawsuit is required for debt collection in Belarus. Debt enforcement and insolvency proceedings are also available. Legal actions require a local lawyer. At Debitura, we provide 3 free quotes from local debt collection attorneys who can negotiate payment and obtain a payment order via the legal system. Lawyer fees vary based on case complexity. Use Debitura to get multiple quotes and find the best price.
At Debitura, we offer a no-cure-no-pay model for pre-legal debt collection in Belarus with a success fee between 10-20%. The cost for legal actions vary according to your particular case and desired actions. We can provide you with 3 quotes from the best debt collection lawyers in Belarus.
The duration of debt collection in Belarus depends on the debtor and the case. If resolved in the pre-legal phase, the process generally takes 3-6 months. If legal actions are required, it typically takes 12-18 months. The length is influenced by the complexity of the case and the debtor's willingness to cooperate. Nonetheless, our experienced team aims to settle cases as promptly and efficiently as possible.
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