Top-Rated Debt Collection Agency in Turkey
Fast and reliable debt collection in Turkey - no upfront costs, only pay for success. Request a FREE Consultation or upload your claim today.
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Recovering your debt in Turkey has never been easier.
Debitura specializes in debt recovery in Turkey, providing a wide range of services such as accounts receivables management, debt collection notices, pre-legal and legal debt collection, and enforcement court proceedings. Our team of experienced professionals employs their expertise in Turkey debt collection laws and regulations to deliver efficient and effective solutions that help businesses recover outstanding debts.
We provide continuous support throughout the entire process.
Tailored debt recovery plan.
A team of more than 500 experts is available for international debt collection.
The lowest cost with a success rate of 87%.
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Working closely with such organizations, allows ANTROYA to be able to cover around 130 countries Worldwide. ANTROYA law Office is the first Office in Turkey to hold the INKASSO trademark rights which proves we are the first amicable receivables management Office in Turkey. Both domestic and international debt collection services carry our “NO CURE NO PAY” guarantee, this provides our client a risk-free debt collection strategy regardless of the debtor’s location.
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MGC Legal is a multinational law firm in Turkey with multiple offices in Istanbul. With its corporate service strategy, it provides end-to-end legal solutions to individual and corporate clients.
We are a debt collection law firm that handles all types of debt collection cases in Turkey. We maximize your chances of getting paid! And minimize your time spent.
Providing high caliber legal consultancy, debt collection, mediation, arbitration, litigation and education services to domestic, regional and global companies, organizations, governments, NGO’s and individuals since 2002.
HERDEM is an Istanbul based law firm that provides highest quality legal services to its local and international corporate clients. We provide tailor made legal services to our clients with the aim of contributing their business objectives.
We, as a law office, are practicing law in the field of Commercial, Labor, Trademark and such many fields since the year 2006.
Law firm based in Istanbul and offices in Ankara Kayseri İzmir. Working with 25 lawyers.
Cebeci Bayram is a leading law firm based in Istanbul with lawyers specialized in their field, interns and assistant staff focused on helping and guiding his clients at affordable costs. We carry out our works in full transparency with our accessible, accountable, solution-oriented structure whenever needed.
Acting as one of the leading debt collection law firms in Turkey while handling any type of debt collection cases in all around Turkey. We also provide advocacy and legal consultancy services to foreign clients throughout the country.
Guzeloglu is an independent law office providing high-quality legal services for both local and international clients. Established in serenely beautiful Istanbul, we dedicate ourselves to devise tailored solutions that fit globally. While an innovative, effective and solution focused fashion drives our practice, we are determined to make a difference in the legal industry.
The ultimate guide about debt collection in Turkey
If you have money that someone else owes you from Turkey, you are in the right place. We have helped hundreds of other businesses get money that people owe them. It can be very hard to get money from someone who lives in another country, but we can help.
At Debitura, we put people first. This means that we do everything we can to get your money back while still preserving a good relationship with your customer. Our strategic public relations efforts are fair, but firm-ensuring your reputation is our top priority! If you want to collect the debt yourself and understand the Turkish debt collection process, continue reading this guide. If you prefer working with a local law firm specialising in debt recovery in Turkey, we are here to help.
At Debitura, we can help you collect your debt in Turkey and other countries. You can start by uploading your claim today. We will look at your case and provide you with 3 free quotes from local debt collection lawyers in Turkey within 24 hours. We use a people-oriented approach with the latest technology to get results and provide better contact management. This way gets the results you need while preserving customer relationships. We also have a network of debt collectors, attorneys, suppliers and vendors that we work with. We value all of these relationships, no matter how small or large they may be.
Upload claim
Begin your debt collection process in Turkey today at no cost. Simply create a complimentary profile, and upload your case within just 2 minutes.
Pre-legal
Our pre-legal recovery process has a proven track record of collecting debts. We offer a 100% no-cure-no-pay policy for the first 3 months.
Legal
If your claim remains unpaid during the pre-legal phase, we offer you 3 quotes from our nearby debt collection lawyers.
24/7 updates
You get access to our online portal where you can track your case in real-time
Introduction to collecting debt in Turkey
Do you have a hard time getting paid by people who owe you money in Turkey? We can help you. The person who owes the money is called the debtor and the person who issued the invoice is called the creditor. If the 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 Turkey
The debt collection process in Turkey usually happens in more than one step.
The image below explains the process we use to collect debt in Turkey:
1 Upload your claim:
Unless you want to get your money back yourself, you will start by finding a company to help you. You will give them information about the money you are owed, and they will try to get the money for you. If you use Debitura, we will give you 3 different companies who might be able to help, and it won't cost you anything.
2 Amicable collection:
The collection process usually starts with sending reminders to the person who owes you money. This is called a campaign. The reminders go through email, SMS, letter, and other ways people can get messages in the specific country. The goal is to get the debtor to pay or acknowledge the debt and start a payment plan. Debitura has 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 risk-free!
3 Evaluation:
If the person you loaned money to hasn't paid you back after you talked to them, it's 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 typical next steps:
A: Surveillance:
If your claim is for less than 2,000 to 5,000 Euros, it is often not worth taking further legal action. In this case, we recommend "debt surveillance." This means we will keep trying to reach your debtor and try to negotiate a friendly settlement.
B: Legal collections:
We suggest beginning a court procedure for bigger legal issues. The specific way it is done depends on the kind and amount of your problem. Usually, it takes about a year and a half to finish the process.
C: Debt enforcement:
If the person you are trying to get money from has said that they owe you money, or if there is a court order saying they owe you money, you can go to the bailiff's court to get your money.
At Debitura, we can help you with all three steps in Turkey.
Amicable collection in Turkey
At Debitura, we offer a 100% risk-free and efficient process for Amicable collections. This means that you can submit your claim to us, and we will get started on it within 24 hours.
We will try to reach your debtor through different ways in Turkey. This might include email, text messages, letters, phone calls, and social media.
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 Turkey
If the person you owe money to does not pay you back, or if they disagree that they owe you money, we will give you 3 free quotes from local debt collectors. The local collector will talk to the person you think owes you money and try to get them to agree to a payment plan. Our partners can also go to court and get a document that says the person owes you money. This document can be used to make the person pay you back.
The amount of money you will need to pay for a lawyer depends on how complicated your case is and how big it is. To make sure you are getting the best deal, it is a good idea to 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 Turkey
If you have a letter from the person you owe money to, or a court order, you can go to the bailiff's court in Turkey to get your money.
The process and how much it will cost varies depending on your situation. You can upload your case to Debitura. They will give you 3 quotes based on your claim within 24 hours.
Get started with
debt enforcement
Upload your claim and get 3 FREE quotes from our local collection partners.
Insolvency proceedings in Turkey
If the person you owe money to cannot pay you back, you can start a process called insolvency. This means selling their things to pay back the people they owe money to, following a debt priority list.
Our analysis has shown that the risk of conducting business in Turkey 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 Turkey 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 Turkey
Economic risk in Turkey is high (5 out of 6). An economic risk of 5 out of 6 is high in Europe.
GDP and economic growth are critical drivers for economic risk.
The GDP of Turkey is 815,27 bn. USD (2021), growing by 10,99% per year.
In terms of the size of its economy, Turkey ranks #20 out of 183 countries and has a large economy.
In terms of growth rate, it is ranked #15 out of 183 countries and is therefore considered a fast-growing economy.
GDP per capita is 9587 USD, ranking Turkey number #65 out of 183 countries. This means the purchasing power of citizens in Turkey is average compared to the rest of the world.
You can see a more detailed picture of GDP and economic growth in Turkey in the table below:
Another significant influencer for the economic risk score is the inflation rate and the interest rates. You can see a more detailed picture of monetary KPIs in Turkey in the table below:
The inflation in Turkey was 19,6% in 2021 which is considered a very high inflation rate.
The business environment risk in Turkey
Our analysis shows that the business environment risk in Turkey is medium (3 out of 6), which is a relatively high risk score in Europe.
The business environment risk are determined by the level of economic freedom and rights in a country. You can see the critical facts for Turkey in the table below:
In the above table, you can see, the property rights index is 62 in Turkey, 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 69 in Turkey, a pretty average score for a country in Europe.
Turkey's overall economic freedom index is 64 out of 100 and is based on factors such as the rule of law, regulatory efficiency, and market openness.
The political risk in Turkey
The political risk in Turkey is high, with a score of 5/6. This is a high political risk score in Europe.
The governance and political stability indicators are critical drivers for political risk. An overview of Turkey 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 Turkey, the rule of law index is at -0,42 points, with the score going from -2.5 (weak) to 2.5 (strong). Turkey 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 large shadow economy that is 27,43% of Turkey's GDP.
The commercial risk in Turkey
In Turkey, 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 Turkey in the table below:
Turkey has a foreign exchange reserve of 109.53 bn. USD.
Turkey has a negative trade balance of -0,42% of GDP. What this means is that Turkey imports more goods and services than the country exports.
The annual growth of exports of goods and services has been growing 24,87% annually - now 35,4% of GDP. Import of goods and services represents 35,82% of the GDP in Turkey.
The financing risk in Turkey
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 Turkey in the table below:
In Turkey, the credit information sharing index is 8 on a scale from 0 (low) to 8 (high). The result of this, is that the access and trustworthiness of the credit information in Turkey is high.
This makes it easy for you to understand the credit risk of your counterpart in Turkey. 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 7 out of 12 and, therefore, medium.
Debt Collection in Turkey: Commonly Asked Questions (FAQ)
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Debt collection in Turkey usually involves multiple steps. First, you provide information about your claim to a company who will send reminders to the debtor to pay or start a payment plan. If this doesn't work, the company will evaluate your claim and suggest one of three options: debt surveillance, legal collections or debt enforcement. At Debitura, we can help you with all three steps in Turkey and have a no-cure-no-pay solution for amicable collection.
The debt collection process in Turkey typically involves three steps: pre-legal collection, legal debt collection, and debt enforcement. Pre-legal collection involves trying to get the debtor to acknowledge the debt and start a payment plan. If this is unsuccessful, legal proceedings may begin for larger debts. For debts below a certain amount, debt surveillance may be recommended. If the debtor owes money and legal action has taken place, debt enforcement can be pursued through the bailiff's court. Debitura can help with all three steps of the debt collection process in Turkey.
In Turkey, if a debt is disputed, a civil lawsuit may be necessary. Debt enforcement and insolvency proceedings are also options. However, legal action requires a local lawyer. The amount you'll pay for a lawyer depends on the case's complexity and size. Get quotes from multiple lawyers to find the best deal. If the debtor can't pay, you can initiate insolvency proceedings that involve selling their assets to pay off their debt in order of priority.
The cost of debt collection in Turkey varies depending on the specific case and desired actions. Debitura offers a no-cure-no-pay model for pre-legal collection with a success fee between 10-20%. For legal actions, prices may differ. However, Debitura can provide you with 3 quotes from the best debt collection lawyers in Turkey to help you make an informed decision.
The length of debt collection in Turkey varies depending on the debtor and the case. If the case is resolved pre-legally, it can take 3-6 months. But, if legal actions are required for debt collection, it can take 12-18 months.
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