Top-Rated Debt Collection Agency in Uruguay
Fast and reliable debt collection in Uruguay - no upfront costs, only pay for success. Request a FREE Consultation or upload your claim today.
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Recover your debt in Uruguay effortlessly.
Debitura specializes in debt recovery in Uruguay. Our skilled team provides a wide range of services, including accounts receivables management, debt collection notices, pre-legal and legal debt collection, and enforcement court proceedings. With our in-depth knowledge of Uruguay's debt collection laws and regulations, we offer effective solutions to help businesses recover outstanding debts quickly and efficiently.
We provide continuous support throughout the entire debt collection process.
Tailored collection approach.
Over 500 specialists are available for global debt collection.
We have a success rate of 87% at the most affordable cost.
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The ultimate guide about debt collection in Uruguay
If you are owed money by a business or person in Uruguay, then we can help you! We have helped many other businesses get their money back from people who owe them.
In Uruguay, it can seem impossible to collect a debt. Language barriers, different laws and customs, and being far away all create serious challenges.
When you use a collection agency that knows the laws and customs of the country where the person you are trying to get money from lives, it will be easier to get your money back.
At Debitura, we always put people first. We try to get your money back while still keeping a good relationship with your customer. Our PR efforts are always fair but firm-which means that your reputation is always our top priority! If you want to collect the debt yourself and understand the Uruguayan debt collection process, keep reading this guide. If you would rather work with a local law firm that specializes in debt recovery in Uruguay, we can help you with that too.
At Debitura, we can help you collect your debt in Uruguay and other countries. You can start by uploading your claim. We will review your case and provide you with three free quotes from local debt collection lawyers within 24 hours. We use a people-oriented approach with 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. In addition, our network of debt collectors, attorneys, suppliers and vendors are cherished relationships that allows us to get the job done. We value each of these relationships, no matter how small or large.
Upload claim
Begin collecting your debt in Uruguay now at no cost by registering for a free account and submitting your case in just two minutes.
Pre-legal
During the first 3 months, we will use our effective pre-legal recovery method to attempt to collect your debt. Rest assured, our approach is risk-free as we offer a 100% no-cure-no-pay policy.
Legal
If your claim remains unpaid during the pre-legal phase, we offer 3 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 Uruguay
Do you have a hard time getting paid by your Uruguayan customers? Do not worry; we can help you get paid easily.
When someone owes money in Uruguay, the person who owes the money is called "the debtor." The person who gave them the money or bill is called "the creditor." If the creditor collects the debt themselves, it's called "first-party collection." If they give the job of collecting debt to someone else, it's called "third-party collections."
The debt collection process in Uruguay
The debt collection process in Uruguay usually happens in several steps. The picture below shows the standard way to collect debt in Uruguay:
1 Upload your claim:
Unless you want to handle the debt yourself, you will start by finding a company to help you. You will give them information about the money you are owed. If you use Debitura, we will give you 3 quotes from different companies in South America that can help. This is 100% free - there is no catch.
2 Amicable collection:
The collection process usually begins 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 of communication. The goal is to get the debtor to pay or agree that they owe the debt, and start a plan to pay it back. Debitura offers a no-cure-no-pay solution for amicable collection. This means that you only have to pay us a small success fee if we recover your debt. Amicable collections with Debitura are 100% risk-free!
3 Evaluation:
If the person you are owed money from has not paid you back after you have tried to work it out, it is time to figure out what to do next. We will look at how much money you are owed, the chance of getting paid back, and other factors to help you decide what to do. There are three typical next steps:
A Surveillance:
If you owe someone less than 2,000-5,000 Euros, it is not usually worth it to take more legal action. In this case, we recommend that you do "debt surveillance." This means that we will keep trying to contact the person you owe money to and try to agree on a payment plan.
B: Legal collections:
We suggest starting paperwork for bigger complaints. The way to do it varies depending on what you are complaining about and how big it is. Usually, it takes around 1 to 1 and a half years to finish.
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.
At Debitura, we can help you with all three steps in Uruguay.
Amicable collection in Uruguay
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 within 24 hours.
We will contact your debtor in Uruguay through all available channels, which may include 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 the money and start a payment plan
If the person you are trying to get 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 Uruguay
If we have not been able to collect your debt during the first phase or the debtor disagrees with your claim, we will provide you with 3 free quotes from our local collection attorneys. In the legal phase, our local attorney will try to negotiate a payment with your debtor. If that does not work, our partners can go to court and get an order for payment from the legal system in Uruguay. This payment order can then be used to force your debtor to pay via enforcement court.
The amount of money you will need to pay a lawyer varies depending on how difficult your case is and how much work the lawyer will need to do. To get the best price, 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 Uruguay
If you have a written acknowledgement of your claim from the debtor, or a court order, you can use the bailiff's court in Uruguay to enforce your claim.
The process and cost for getting your money back will be different depending on your case. You can upload your case onto the Debitura website. Within 24 hours, you will get 3 specific quotes from different companies who can help you get your money back.
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 doing business in Uruguay is medium-low. Based on this medium-low 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 Uruguay well. If possible, provide a short credit period or even better upfront payment. The medium-low risk score is based on the following factors:
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The economic risk in Uruguay
Our conclusion based on the economic risk factors, is that the economic risk in Uruguay is medium (3 out of 6). An economic risk of 3 out of 6 is relatively low in South America.
GDP and economic growth are critical drivers for economic risk.
The GDP of Uruguay is 59,32 bn. USD (2021), growing by 4,37% per year.
In terms of the size of its economy, Uruguay ranks #81 out of 183 countries and has a medium-sized economy.
In terms of growth rate, it is ranked #93 out of 183 countries and is therefore considered an excellent growing economy.
GDP per capita is 17021 USD, ranking Uruguay number #48 out of 183 countries. The result of this is purchasing power of citizens in Uruguay is high compared to the rest of the world.
You can see a more detailed picture of GDP and economic growth in Uruguay 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 KPIs in Uruguay in the table below:
The inflation in Uruguay was 7,7% in 2021 which, unfortunately, is considered a quite high inflation rate.
Looking at the interest rate for businesses, it is 7,45%.
The business environment risk in Uruguay
Our analysis shows that the business environment risk in Uruguay is low (2 out of 6), which is a low risk score in South America.
Economic freedom and rights determine the business environment risk in a country. Take a look at the important facts for Uruguay in the table below:
As you can see in the table, the property rights index is 68 in Uruguay, which is considered quite good in South America.
The business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study. The Index is 72 in Uruguay, a quite good score for a country in South America.
Uruguay's overall economic freedom index is 69 out of 100 and is based on factors such as the rule of law, regulatory efficiency, and market openness.
The political risk in Uruguay
The political risk in Uruguay is low, with a score of 2/6. This is a low political risk score in South America.
The governance and political stability indicators are vital drivers for political risk. An overview of Uruguay 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 doing business in a country, the rule of law index is critical as it describes your ability to enforce commercial contracts.
In Uruguay, the rule of law index is at 0,73 points, with the score going from -2.5 (weak) to 2.5 (strong). Uruguay has, therefore, a high rule of law index, which means you should have a good chance of enforcing your contracts. If your individual customers have good creditworthiness, you should therefore feel relatively safe when providing credit.
Other drivers for the low political risks are the strong control of corruption, the average political stability index, and the medium-large shadow economy that is 20,38% of Uruguay's GDP.
The commercial risk in Uruguay
In Uruguay, the commercial risk score is 2/4, which in our model is a low score. This low commercial risk score is pretty average compared to the average in South America.
The commercial risk is influenced by a country's international trade relationships. You can see some of the key facts for Uruguay in the table below:
Uruguay has a foreign exchange reserve of 16.96 bn. USD.
Uruguay has a positive trade balance of 6,16% of GDP. What this means is that Uruguay imports fewer goods and services than the country exports.
The annual growth of exports of goods and services has been growing 14,41% annually - now 31,48% of GDP. Import of goods and services represents 25,32% of the GDP in Uruguay.
The financing risk in Uruguay
We have calculated the financing risk to be 2/4, which equals a low risk. A low financing risk score is pretty average for countries in South America.
The country's banking system, efficiency, and stability influence the financing risk. You can find the extra information for Uruguay in the table below:
In Uruguay, the credit information sharing index is 8 on a scale from 0 (low) to 8 (high). The result of this is accessibility and quality of credit information available in Uruguay is high.
This makes it easy for you to understand the credit risk of your counterpart in Uruguay. 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 4 out of 12 and, therefore, very weak.
The low financing risk for creditors also impacts the high interest rate in the private sector of 7,45%.
Debt collection in Uruguay: Frequently Asked Questions (FAQ)
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In Uruguay, debt collection can be done through first-party or third-party collection. The process usually starts with sending reminders to the debtor. If that doesn't work, it's time to evaluate the case and decide on the next steps. These may include debt surveillance, legal collections, or debt enforcement. Debitura can help with all three steps in Uruguay and offers a risk-free solution for amicable collections.
The debt collection process in Uruguay involves pre-legal collection, legal debt collection and debt enforcement. Pre-legal collection includes contacting the debtor to agree on a payment plan. Legal collections involve initiating paperwork for bigger complaints and can take up to a year and a half to finish. Debt enforcement involves going to the bailiff's court to get your money if there is a court order or agreement. Debitura offers assistance with all three steps in Uruguay.
In Uruguay, if a debt is disputed, a civil lawsuit may be required. Legal actions may include debt enforcement and insolvency proceedings. It is important to have a local lawyer handle these actions. Debitura provides 3 free quotes from local collection attorneys to negotiate payment with the debtor. If settlement fails, legal action may be taken to obtain an order for payment that can be used in enforcement court. Legal fees may vary and it is recommended to obtain quotes from multiple lawyers.
Debitura provides a no-cure-no-pay model for pre-legal debt collection in Uruguay, with success fees ranging between 10-20%. Prices for legal action depend on your specific case and desired actions. If you need legal assistance, Debitura can obtain 3 quotes from the best debt collection lawyers in Uruguay.
The time it takes to collect a debt in Uruguay varies depending on the debtor and case. If the debt can be resolved in the pre-legal phase, it usually takes 3-6 months. However, if legal action is necessary, the process can take 12-18 months. The duration of the debt collection process will depend on various factors and circumstances specific to each case.
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