Top-Rated Debt Collection Agency in Moldova
Fast and reliable debt collection in Moldova - no upfront costs, only pay for success. Request a FREE Consultation or upload your claim today.
Recovering your debt in Moldova is most conveniently achieved through the easiest method.
Debitura is a specialized debt recovery firm in Moldova. Our experienced team provides a range of services, such as accounts receivables management, debt collection notices, pre-legal and legal debt collection, and enforcement court proceedings. Our expertise in Moldova's debt collection laws and regulations allows us to deliver efficient and effective solutions that aid businesses in reclaiming their outstanding debts.
We provide consistent support from beginning to end.
A tailored plan for debt collection.
We have a team of over 500 experts who specialize in international debt collection.
We boast a 87% success rate at the most affordable price.
The ultimate guide about debt collection in Moldova
Are you owed money from a business or person in Moldova? You've come to the right place! We have helped many other companies get their money back from debtors in Moldova.
Collecting debt in Moldova can be difficult. Language and cultural differences, different laws, and distance all make it challenging.
But, it's easier to get your money back when you use a collection agency that knows the laws and customs of the country where the person who owes you money lives.
At Debitura, we put our clients first and do everything we can to get your money back while still keeping a good relationship with the person who owes you money. Our approach is fair, but firm. We make sure to protect your reputation!
If you want to collect the debt yourself and understand the process in Moldova, keep reading this guide. But, if you prefer working with a local law firm that specializes in debt recovery in Moldova, we can help with that too.
At Debitura, we make it easy for you to collect your unpaid debt in Moldova and over 190 other countries. All you have to do is submit your claim and within 24 hours, we will evaluate your situation and give you three options for local debt collection attorneys in Moldova. We use a combination of personal touch and advanced technology to achieve success and maintain positive connections with clients. Our approach ensures that we get results while also keeping customer relationships intact. We also have a wide network of debt collectors, lawyers, and other professionals that we work closely with. We value these partnerships, no matter how big or small they may be, in order to get the job done.
Begin the debt collection process in Moldova today at no cost. Simply sign up for a free account and upload your case within 2 minutes.
Our pre-legal recovery process, which has a proven success record, will be used to collect your claim within the initial 3 months. We work on a no-cure-no-pay basis, meaning you don't pay anything if we can't recover your debt.
If your debt has not been paid in the pre-legal phase, we offer you 3 quotes from our nearby debt collection lawyers.
You get access to our online portal where you can track your case in real-time
Introduction to collecting debt in Moldova
Are you struggling to get paid by people in Moldova who owe you money? Don't worry, we can help make it easier for you.
The person who owes the debt is called the "debtor" and the person who gave out the debt or bill is called the "creditor". If the creditor collects the debt themselves, it's called "first-party collection". If they hire someone else to collect the debt, it's called "third-party collections".
The debt collection process in Moldova
In Moldova, collecting debt usually involves a series of steps. The picture below shows the usual way we go about collecting debt in Moldova.
1 Upload your claim:
If you don't want to handle recovering your debt on your own, you need to find a company that will help you collect it. You can do this by finding a debt collection partner and giving them your claim information through their website. One option is Debitura, which will give you three options for local partners in the European country that pertains to your case. The best part? It's completely free and there are no hidden fees.
2 Amicable collection:
The way we usually start collecting a debt is by sending friendly reminders through different ways of communication, like email, text, and mail, to the person who owes you money. The point is to get them to either pay or agree that they owe the debt and make a plan to pay it back. We have a plan where you don't have to pay anything if we can't collect the debt, and you only pay a small fee if we do. So, working with us to collect debt is completely safe and without risk.
If the person who owes you money hasn't paid you back after trying to solve the issue peacefully, it's time to think about what to do next. We will consider how much money is owed, the chance of getting paid, and other important information to help you make the best choice. Usually, there are three options to choose from:
If you are trying to get back a small amount of money, usually less than $2,000 to $5,000, it may not be worth it to go through a legal process. Instead, we suggest "debt surveillance" which means we will keep in touch with the person you owe the money to and try to come to an agreement without going to court.
B: Legal collections:
It's a good idea to take legal action for bigger claims. The steps you need to take will vary based on the specifics of your claim. Usually, it will take around a year and a half to resolve the case.
C: Debt enforcement:
If you have proof that the person you are trying to collect money from has agreed to pay you or a judge has ordered them to, you can ask a special court official called a bailiff to help you get the money.
Amicable collection in Moldova
At Debitura, we have a great way for you to collect money that is owed to you. It's totally safe and works really well. All you have to do is give us the details of the person who owes you money and we'll start working on it within 24 hours.
We'll contact the person who owes you money in many different ways, like through email, text messages, mail, phone calls, and social media.
Our goal is to either:
A) get them to pay the whole amount or
B) to agree to a plan to pay it back over time.
However, if the person who owes you money denies that they owe you anything, we can't use this friendly method. Instead, we'll have to use legal methods to collect the money.
Get started with
amicable debt collection
Upload your claim and get started with our 100% no-cure-no-pay collection solution.
Legal collection in Moldova
If the person you are trying to collect money from hasn't paid you yet and they disagree with your claim, we can give you 3 options for lawyers to help you. These lawyers will talk to the person you're trying to get money from and try to work out a plan for them to pay you. If that doesn't work, the lawyers can go to court and get a court order for the person to pay you. This court order can then be used to make the person pay you through the legal system in Moldova.
The cost of hiring a lawyer can change depending on how complicated and big your case is. To find the best deal, we suggest looking at different options from multiple lawyers. This can easily be done by using a website called Debitura, where you can compare prices from different attorneys 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 Moldova
If the person you are trying to collect money from, known as the debtor, has given you a written statement saying they owe you money or a court has ordered them to pay you, you can use a special government agency called the bailiff's court in Moldova to make sure they pay up.
The way it works and how much it costs can be different for each person. Send your information to Debitura, and within a day, you'll receive three different prices for your situation.
Get started with
Upload your claim and get 3 FREE quotes from our local collection partners.
Our analysis concludes that the risk of doing business in Moldova is medium-high. Based on this medium-high score, we recommend always charging upfront payment or using credit insurance when trading with customers in Moldova, as it may be very difficult to get paid. The medium-high risk score is based on the following factors:
The economic risk in Moldova
Our analysis shows that the economic risk in Moldova 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 Moldova is 13,68 bn. USD (2021), growing by 13,94% per year.
In terms of the size of its economy, Moldova ranks #130 out of 183 countries and has a medium-sized economy.
In terms of growth rate, it is ranked #6 out of 183 countries and is therefore considered a fast-growing economy.
GDP per capita is 5315 USD, ranking Moldova number #91 out of 183 countries. This means the purchasing power of citizens in Moldova is average compared to the rest of the world.
You get a more detailed idea of GDP and economic growth in Moldova 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 Moldova in the table below:
The inflation in Moldova was 5,1% in 2021 which is considered a medium inflation rate.
The interest rate for businesses is 7,4%.
The business environment risk in Moldova
Our analysis shows that the business environment risk in Moldova 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 Moldova in the table below:
As you can see in the table, the property rights index is 61 in Moldova, 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 66 in Moldova, a quite low score for a country in Europe.
Moldova's overall economic freedom index is 63 out of 100 and is based on factors such as the rule of law, regulatory efficiency, and market openness.
The political risk in Moldova
The political risk in Moldova 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 Moldova 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 transacting business in a country, the rule of law index is critical as it describes your ability to enforce commercial contracts.
In Moldova, the rule of law index is at -0,33 points, with the score going from -2.5 (weak) to 2.5 (strong). Moldova 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 very large shadow economy that is 39,68% of Moldova's GDP.
The commercial risk in Moldova
In Moldova, the commercial risk score is 2/4, which in our model is a low score. This low commercial risk score is relatively low compared to the average in Europe.
The commercial risk is relying on a country's international trade relationships. You can see some of the key facts for Moldova in the table below:
Moldova has a foreign exchange reserve of 3.9 bn. USD.
Moldova has a negative trade balance of -27,37% of GDP. This means that Moldova imports more goods and services than the country exports.
The annual growth of exports of goods and services has been growing 17,54% annually - now 30,62% of GDP. Import of goods and services represents 57,99% of the GDP in Moldova.
The financing risk in Moldova
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. Additional facts and info can be found for Moldova in the table below:
In Moldova, the credit information sharing index is 6 on a scale from 0 (low) to 8 (high). This means the accessibility and quality of credit information available in Moldova is medium.
This makes it easy for you to understand the credit risk of your counterpart in Moldova. 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 legal rights as a creditor (and as a borrower) are 8 out of 12 and, therefore, medium.
The high financing risk for creditors also impacts the high interest rate in the private sector of 7,4%.
Debt Collection in Moldova: Frequently Asked Questions (FAQ)
In Moldova, debt collection involves a series of steps that usually start with amicable collection, including sending friendly reminders to the debtor. If this doesn't work, the creditor can evaluate the options for legal collection, surveillance, or debt enforcement. It is recommended to find a debt collection partner to help with the process. Debitura offers a free service to help connect you with local partners in the European country pertaining to your case.
In Moldova, debt collection involves three steps: pre-legal collection, legal debt collection, and debt enforcement. To start, upload your claim to a debt collection partner like Debitura. Amicable collection involves friendly reminders through different channels. If unsuccessful, evaluate your options and choose from debt surveillance, legal collections, or debt enforcement. Legal action is recommended for larger claims, and debt enforcement involves using a bailiff to collect on a court order or agreement.
In Moldova, if a debt is disputed, legal options include filing a civil lawsuit. Debt enforcement and insolvency proceedings are also available. It's important to note that legal actions require the assistance of a local lawyer. Our website can help you compare prices from different attorneys to find the best deal for your specific case.
At Debitura, our pre-legal debt collection service operates on a no-cure-no-pay basis with a success fee between 10-20%. Depending on your specific case and desired actions, the price for legal debt collection may vary. We work with the best debt collection lawyers in Moldova and can provide you with 3 quotes.
The duration of debt collection in Moldova depends on the debtor and the specific case. If the case is resolved in the pre-legal phase, then it typically takes around 3-6 months. However, if legal actions are required for debt collection, it may take longer, typically about 12-18 months. The duration of the process differs based on the specifics of each case.