Top-Rated Debt Collection Agency in Gambia
Fast and reliable debt collection in Gambia - no upfront costs, only pay for success. Request a FREE Consultation or upload your claim today.
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In Gambia, the most effortless method to retrieve your debt is by using our services.
Debitura is an expert in debt recovery services in Gambia. Our team comprises seasoned professionals who provide a broad spectrum of services such as managing accounts receivable, issuing debt collection notices, and pursuing pre-legal and legal debt collection as well as enforcing court proceedings. Having a deep understanding of the laws and regulations around Gambia's debt collection, we deliver prompt and valuable solutions to assist companies to retrieve their unpaid debts.
We provide unwavering assistance throughout the entire process.
Tailored debt recovery plan.
We have a team of 500+ experts specializing in international debt collection.
Our debt collection service has a success rate of 87% and is the most cost-effective option available.
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A leading full-service law firm serving domestic and international clientele.
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The ultimate guide about debt collection in Gambia
Are you having trouble getting money that a business or customer owes you in Gambia? We can help! We have helped many other businesses recover debt in Gambia. Collecting debt in Gambia can be difficult because of language and cultural differences, laws and customs, and distance. It's easier to collect debt when you use a collection agency that knows the laws and customs of the country where the debtor lives.
At Debitura, we focus on getting you your money back while still keeping a good relationship with your customer. We use fair and firm strategies to protect your reputation. If you want to understand the whole process of collecting debt in Gambia yourself, you can read this guide. If you prefer to work with a local law firm that specializes in debt recovery in Gambia, we can help with that too.
At Debitura, we make it easy for you to collect money that people owe you in Gambia and many other countries. You can start using our service today by uploading your claim. Within 24 hours, we will look at your case and give you 3 options for local lawyers who can help you collect the debt. We use a mix of personal service and modern technology to make sure we get results while also keeping good relationships with your customers. Also, we have a network of people who can help us collect the debt, including lawyers, suppliers, and vendors. We value all of these relationships and work with them to make sure we get the job done.
Upload claim
Begin collecting debt in Gambia today at no cost. Simply create a complimentary profile and submit your case within 2 minutes.
Pre-legal
During the first 3 months, we use our successful pre-legal recovery approach to try and collect your debt. Our service is completely no-cure-no-pay, meaning you only pay if we help you recover the debt.
Legal
If your claim hasn't been paid in the pre-legal stage, we'll offer you 3 price quotes from our nearby 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 Gambia
If you have trouble getting people to pay you back for money they owe you in Gambia, don't worry. We can help you get paid by your Gambian customers. The person who owes the debt is called the debtor, and the person who gave them the money in the first place is called the creditor. If the creditor tries to collect the debt themselves, this is called first-party collection. But if the creditor hires someone else to collect the debt, this is called third-party collections.
The debt collection process in Gambia
The debt collection process in Gambia usually happens in a few steps.
The picture shows the steps we normally take to collect debt in Gambia.
1 Upload your claim:
If you want someone to help you get your money back, you will start by finding a debt collection partner. This is a person or company that will help you get your money back from the person who owes it to you. You will give them some information about the debt, and then they will try to get the money for you. If you use Debitura, we will give you 3 quotes from local partners in Africa who can help with your case. This service is free - there is no charge for using it.
2 Amicable collection:
The first step in collecting a debt is to send reminders to the debtor via email, SMS, letter or any other available communication channels. The goal is to get the debtor to pay or acknowledge the debt and start a payment plan. If we are successful in recovering the debt, you will only have to pay a small success fee. With Debitura, there is no risk involved!
3 Evaluation:
If the person you are owed money from has not paid you back after you have talked to them, it is time to decide 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 common next steps:
A: Surveillance:
If your claim is less than 2,000-5,000 euros, it is often not worth taking any more legal action. In this case, we recommend "debt surveillance", where we will keep trying to contact your debtor and try to agree on a payment plan.
B: Legal collections:
It is a good idea to start a legal process for bigger claims. The process depends on the type and size of your claim. In most cases, the process will take 12-18 months.
C: Debt enforcement:
If the person you are owed 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 Gambia.
Amicable collection in Gambia
At Debitura, we offer a 100% risk-free and efficient process for Amicable collections. Simply submit your claim, and we will get started within 24 hours.
We will reach out to your debtor via all available channels in Gambia, including e-mail, SMS, letters, calls and social media.
The goal of this process is to:
A) Get the person who owes you money to pay you the entire amount.
B) Get the person who owes you money to agree that they owe you money. Then, make a plan for when they will pay you back.
If the person you are trying to get money from has said they do not owe you money, you cannot try to resolve this problem without going through the legal system.
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 Gambia
If the person who owes you money hasn't paid during the friendly phase or they disagree with your claim, we will give you 3 options from our local attorneys who specialize in collecting debt. In the legal phase, our local attorney will talk to the person who owes you money and try to reach a payment agreement. Our partners can also go to court and get a court order to enforce the payment of your claim in Gambia. This court order can then be used to make the person who owes you money pay through the court system.
The cost of using an attorney to collect your debt varies depending on how complicated and big your claim is. To get the best deal, we suggest you compare prices from different attorneys by using Debitura, which allows you to get multiple quotes with just a few clicks.
Get started with
legal debt collection
Upload your claim and get 3 FREE quotes from our local collection partners.
Debt enforcement in Gambia
If the person you are owed money from has acknowledged your claim in writing, or if there is a court order, you can use the bailiff's court in Gambia to get your money. The process and how much it costs will be different depending on your case. You can upload your case to Debitura, and then you will get 3 quotes from different companies within 24 hours.
Get started with
debt enforcement
Upload your claim and get 3 FREE quotes from our local collection partners.
Insolvency proceedings in Gambia
The final stage you can initiate if your debtor cannot pay his debts is an insolvency procedure. The goal of this procedure is to liquidate, or get rid of, the debtor's assets and give them to the creditors following the debt priorities.
Our analysis concludes that the risk of doing business in Gambia 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 Gambia well. If possible, provide a short credit period or even better upfront payment. The average risk is conluded on the following areas:
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The economic risk in Gambia
Our conclusion based on the economic risk factors, is that the economic risk in Gambia is very high (6 out of 6). An economic risk of 6 out of 6 is relatively high in Africa.
GDP and economic growth are critical drivers for economic risk.
The GDP of Gambia is 2,08 bn. USD (2021), growing by 5,63% per year.
In terms of the size of its economy, Gambia ranks #160 out of 183 countries and has a small economy.
In terms of growth rate, it is ranked #69 out of 183 countries and is therefore considered a fast-growing economy.
GDP per capita is 836 USD, ranking Gambia number #160 out of 183 countries. The result of this is purchasing power of citizens in Gambia is low compared to the rest of the world.
You can see a more detailed picture of GDP and economic growth in Gambia in the table below:
Another big impact for the risk score is the inflation rate and the interest rates. You can see a more detailed picture of monetary KPIs in Gambia in the table below:
The inflation in Gambia was 7,4% in 2021 which is considered a high inflation rate.
The interest rate for businesses is 19,5%.
The business environment risk in Gambia
Our analysis shows that the business environment risk in Gambia is medium-high (4 out of 6), which is a relatively low risk score in Africa.
Economic freedom and rights determine the business environment risk in a country. You can see the critical facts for Gambia in the table below:
As you can see in the table, the property rights index is 42 in Gambia, which is considered quite low in Africa.
The business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study. The Index is 56 in Gambia, a quite average score for a country in Africa.
Gambia's overall economic freedom index is 59 out of 100 and is based on factors such as the rule of law, regulatory efficiency, and market openness.
The political risk in Gambia
The political risk in Gambia is high, with a score of 5/6. This is a pretty average political risk score in Africa.
The governance and political stability indicators are critical drivers for political risk. An overview of Gambia 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 trading with businesses in a country, the rule of law index is critical as it describes your ability to enforce commercial contracts.
In Gambia, the rule of law index is at -0,39 points, with the score going from -2.5 (weak) to 2.5 (strong). Gambia 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 weak political stability index, and the very large shadow economy that is 43,64% of Gambia's GDP.
The commercial risk in Gambia
In Gambia, the commercial risk score is 1/4, which in our model is a very low score. This very low commercial risk score is low compared to the average in Africa.
The commercial risk is relying on a country's international trade relationships. You can see some of the key facts for Gambia in the table below:
Gambia has a foreign exchange reserve of 0.65 bn. USD.
Gambia has a negative trade balance of -35,84% of GDP. What this means is that Gambia imports more goods and services than the country exports.
The annual growth of exports of goods and services has been growing 6,2% annually - now 9,62% of GDP. Import of goods and services represents 45,46% of the GDP in Gambia.
The financing risk in Gambia
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 Africa.
The country's banking system, efficiency, and stability influence the financing risk. You can find the extra information for Gambia in the table below:
In Gambia, the credit information sharing index is 0 on a scale from 0 (low) to 8 (high). The result of this is accessibility and quality of credit information available in Gambia is very low.
This makes it very difficult for you to understand the credit risk of your counterpart in Gambia. Unless you have a strong relationship with your customers in Gambia, we highly recommend charging payment upfront or using credit insurance.
Your juridical rights as a creditor are 6 out of 12 and, therefore, weak.
The medium financing risk for creditors also impacts the high interest rate in the private sector of 19,5%.
Debt Collection in Gambia: Your Frequently Asked Questions Answered!
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In Gambia, debt collection usually happens through a third-party collection. You can start by finding a debt collection partner who will help you get your money back. The debt collection process involves sending reminders to the debtor and trying to get them to pay or start a payment plan. If this is not successful, you can choose to surveil the debtor, start legal collections or go to the bailiff's court for debt enforcement. At Debitura, we can help you with all three steps.
The debt collection process in Gambia involves three steps: pre-legal collection, legal debt collection, and debt enforcement. Firstly, a debt collection partner is chosen and the debtor is reminded to pay through various communication channels. Next, an evaluation is done to determine the best course of action: surveillance for small claims, legal action for larger claims, or debt enforcement with a court order. Debitura can help with all three steps in Gambia.
In Gambia, if a debt is disputed, a civil lawsuit is required. Debt enforcement and insolvency proceedings are also options for debt collection. However, legal actions require a local lawyer. Our local attorneys specialize in debt collection and will try to reach a payment agreement or get a court order to enforce payment. The cost of using an attorney varies, and we suggest comparing prices through Debitura. In case the debtor cannot pay his debts, the final stage is initiating an insolvency procedure to liquidate their assets and give to the creditors based on debt priorities.
Debt collection in Gambia with Debitura has a no-cure-no-pay model for pre-legal collection with a success fee between 10-20%. The price for legal actions depends on your specific case and desired actions. Contact Debitura for 3 quotes from the best debt collection lawyers in Gambia.
The duration of debt collection in Gambia varies depending on the debtor and the case. If a settlement is reached in the pre-legal phase, it typically takes 3-6 months. However, if it requires legal actions, the process is usually longer and can take 12-18 months to resolve.
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