Top-Rated Debt Collection Agency in Guinea-Bissau
Fast and reliable debt collection in Guinea-Bissau - no upfront costs, only pay for success. Request a FREE Consultation or upload your claim today.
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Recover your debt in Guinea-Bissau easily with this method.
Debitura focuses exclusively on debt recovery in Guinea-Bissau, with a seasoned team of professionals offering a complete set of services ranging from accounts receivables management to enforcement court proceedings. We possess extensive knowledge and expertise in the area of Guinea-Bissau debt collection laws and regulations, which enables us to deliver quick and effective solutions to enable businesses to recover their outstanding debts.
We provide unwavering assistance throughout the debt collection process.
Tailored debt recovery plan.
We have a team of over 500 professionals who specialize in international debt collection.
Our debt collection approach boasts a success rate of 87% while maintaining the lowest cost.
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The ultimate guide about debt collection in Guinea-Bissau
If you have money that someone owes you from Guinea-Bissau, we can help you get it back. We have helped other businesses in Guinea-Bissau to get money that was owed to them.
It might seem impossible to get someone to pay you back if they live in Guinea-Bissau. There can be a lot of barriers, like different languages and customs, or even just how far away the person is.
When you use a collection agency that knows the laws of the country where the person you owe money to lives, it will be easier to get your money back.
At Debitura, we care about people. We try to get your money back while still being friends with the person who owes you money. We are always fair in what we do and how we say things to the person who owes you money. And we will never do anything that could make you look bad.
If you want to learn how to collect debt yourself, keep reading this guide. It will explain the process from start to finish. If you would rather work with a local law firm that specializes in debt recovery in Guinea-Bissau, we can help you with that too.
At Debitura, we can help you collect money that someone else owes you. Get started by uploading your claim today. We will look at your case and provide you with 3 free quotes from local debt collection lawyers within 24 hours. We use a people-oriented approach and 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. Our network of debt collectors, attorneys, suppliers and vendors are all relationships that we value. No matter how small or large each one is, we appreciate them all. These relationships allow us to get the job done.
Upload claim
Begin recovering your outstanding debts in Guinea-Bissau today at no cost. Simply create a free profile and upload your case in just two minutes.
Pre-legal
We’ll use our pre-legal recovery process to collect your claim for 3 months. It's proven to work and you don’t pay unless we succeed.
Legal
If your claim remains unpaid during the pre-legal phase, we will 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 Guinea-Bissau
Do you have a hard time collecting money that people owe you in Guinea-Bissau? Do not worry; we make it easy for you to get paid by your Bissau-Guinean customers.
In Guinea-Bissau, the person who owes money is called "the debtor." The person who gave the money or bill is called "the creditor."
If the original creditor collects the debt, this is called "first-party collection." If the creditor gives the debt to someone else to collect, this is called "third-party collections."
The debt collection process in Guinea-Bissau
The debt collection process in Guinea-Bissau usually happens in multiple steps. The picture below explains the standard process for collecting debt in Guinea-Bissau:
1 Upload your claim:
If you want to find someone to help you get your money back, you will start by finding a company that collects debts. You will give them some information about the money you are owed, and then they will try to get the money for you. If you use Debitura, we will give you 3 quotes from different companies in Africa who might be able to help you. This is free - we will not ask for any money from you.
2 Amicable collection:
The collection process begins with sending reminders to the person who owes you money. The reminders are sent through email, SMS, letter, and other ways. The goal is to get the debtor to pay or start a payment plan. Debitura offers a no-cure-no-pay solution for amicable collection. This means that you only have to 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 from the debtor after trying to work it out amicably, it is time to evaluate the next steps. We will look at the size of your claim, the probability of receiving payment and other factors to help you decide what to do next. There are three typical next steps:
A Surveillance:
If your claim is below $2,000-$5,000, it is not worth it to take any more legal action. In this case, we recommend "debt surveillance." This means that we will keep trying to contact your debtor and try to reach an agreement without going to court.
B: Legal collections:
It is a good idea to start a legal process for large claims. The process depends on the type and size of your claim. In most cases, it will take 12-18 months to finish the process.
C: Debt enforcement:
If the person you are owed money from has agreed that you are owed money, or if you have a court order, you can go to the bailiff's court to get your money.
Amicable collection in Guinea-Bissau
At Debitura, we offer a 100% risk-free and very efficient process for Amicable collections. This means that you can submit your claim to us, and we will get started within 24 hours.
We will contact your debtor in Guinea-Bissau through different methods, such as email, text messages, letters, phone calls, and social media.
The goal of this process is to:
A) get the debtor to pay the full amount, or
B) get the debtor to agree that they owe money and start a plan to pay it back
If the person you are trying to get money from says that they do not owe you money, you cannot try to work it out with them. You must go directly to 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 Guinea-Bissau
If you haven't been paid during the first stage or the person you're trying to get money from denies they owe you anything, we'll give you 3 free quotes from local debt collection attorneys. In the legal phase, our local attorney will try to work something out with the debtor so you can get your payment. Our partners can also go to court and get a payment order from the legal system in Guinea-Bissau. This payment order can then be used to force the debtor to pay up via enforcement court.
Legal fees depend on how complicated your case is and how big your claim is. To get the best price, it is a good idea to compare quotes from different attorneys. 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 Guinea-Bissau
If the person you owe money to has written down that they agree with the amount of money you say they owe you, or if there is a court order, you can go to the bailiff's court in Guinea-Bissau 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.
Our analysis has shown that the risk of conducting business in Guinea-Bissau is medium-high. Based on this medium-high score, we recommend always charging upfront payment or using credit insurance when trading with customers in Guinea-Bissau, 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 Guinea-Bissau
Our analysis shows that the economic risk in Guinea-Bissau 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 Guinea-Bissau is 1,64 bn. USD (2021), growing by 3,8% per year.
In terms of the size of its economy, Guinea-Bissau ranks #165 out of 183 countries and has a small economy.
In terms of growth rate, it is ranked #107 out of 183 countries and is therefore considered an excellent growing economy.
GDP per capita is 813 USD, ranking Guinea-Bissau number #162 out of 183 countries. This means the purchasing power of citizens in Guinea-Bissau is low compared to the rest of the world.
You can see a more detailed picture of GDP and economic growth in Guinea-Bissau 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 key performance indicators in Guinea-Bissau in the table below:
The business environment risk in Guinea-Bissau
Our analysis shows that the business environment risk in Guinea-Bissau is very high (6 out of 6), which is a high risk score in Africa.
The business environment risk are determined by the level of economic freedom and rights in a country. You can see the critical facts for Guinea-Bissau in the table below:
As you can see in the table, the property rights index is 40 in Guinea-Bissau, 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 38 in Guinea-Bissau, a low score for a country in Africa.
Guinea-Bissau's overall economic freedom index is 55 out of 100 and is based on factors such as the rule of law, regulatory efficiency, and market openness.
The political risk in Guinea-Bissau
The political risk in Guinea-Bissau is very high, with a score of 6/6. This is a relatively high political risk score in Africa.
The governance and political stability indicators are critical drivers for political risk. An overview of Guinea-Bissau 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 doing business in a country, the rule of law index is critical as it describes your ability to enforce commercial contracts.
In Guinea-Bissau, the rule of law index is at -1,44 points, with the score going from -2.5 (weak) to 2.5 (strong). Guinea-Bissau 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 34,94% of Guinea-Bissau's GDP.
The commercial risk in Guinea-Bissau
In Guinea-Bissau, 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 financing risk in Guinea-Bissau
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 Guinea-Bissau in the table below:
In Guinea-Bissau, the credit information sharing index is 0 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 Guinea-Bissau is very low.
This makes it very difficult for you to understand the credit risk of your counterpart in Guinea-Bissau. Unless you have a strong relationship with your customers in Guinea-Bissau, we highly recommend charging payment upfront or using credit insurance.
Your legal rights as a creditor (and as a borrower) are 6 out of 12 and, therefore, weak.
Debt Collection in Guinea-Bissau: Frequently Asked Questions (FAQ)
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In Guinea-Bissau, debt collection usually happens in multiple steps. The process begins by uploading your claim to a debt collection company who will then try to recover the debt amicably through reminders. If this is unsuccessful, the next steps will be evaluated based on the size of the claim and probability of payment. This might involve debt surveillance, starting a legal process for large claims or debt enforcement if there is a court order in place. Debitura offers a no-cure-no-pay solution for amicable debt collection, making it risk-free for you.
The debt collection process in Guinea-Bissau involves three steps: pre-legal collection, legal debt collection, and debt enforcement. Pre-legal collection involves sending reminders through various means to the debtor to encourage payment. If this fails, the next step is evaluating the claim to determine the best course of action. Debt surveillance may be recommended for smaller claims, while legal collections are advised for larger claims. Debt enforcement can be pursued for agreed or court-ordered debts through the bailiff's court. Debitura offers a risk-free amicable collection solution with a no-cure-no-pay approach.
If a debt is disputed in Guinea-Bissau, a civil lawsuit is required for debt collection. This may involve debt enforcement and insolvency proceedings. Legal actions require the assistance of a local lawyer. Our platform can connect you with local debt collection attorneys who can provide you with free quotes and assistance with legal proceedings. It is recommended to compare quotes from different attorneys to get the best price.
Debt collection costs in Guinea-Bissau vary depending on your specific case and desired actions. Debitura offers a no-cure-no-pay model for pre-legal collection with a success fee between 10-20%. The price for legal actions varies, but we can provide you with 3 quotes from the best debt collection lawyers in Guinea-Bissau.
The timeline for debt collection in Guinea-Bissau varies depending on the debtor and the case. If the case can be resolved in the pre-legal phase, the collection process typically takes 3-6 months. However, if legal actions are required to collect the debt, it may take longer, typically around 12-18 months. Please note that these are general estimates and the actual duration may vary depending on the specific circumstances of each case.
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