Top-Rated Debt Collection Agency in Uzbekistan
Fast and reliable debt collection in Uzbekistan - no upfront costs, only pay for success. Request a FREE Consultation or upload your claim today.
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Recover your debt in Uzbekistan effortlessly with this method.
Debitura specializes in debt collection services in Uzbekistan, offering a wide range of professional solutions to help businesses recover outstanding debts. Our experienced team offers comprehensive services, such as accounts receivables management, debt collection notices, pre-legal and legal debt collection, and enforcement court proceedings. With our proficiency in Uzbekistan's debt collection laws and regulations, we provide efficient and effective strategies to resolve outstanding debts.
From beginning to end, we provide unwavering assistance and support.
Tailored debt recovery approach.
We have gathered a team of 500+ professionals who specialize in international debt collection.
Our debt collection services boast a 87% success rate, while keeping the costs at the lowest levels.
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Gravamen Fidelis Fides was established in 2004 and is one of the oldest running law firms in Uzbekistan. As a full-service law firm we provide legal services to domestic and foreign clients in virtually every aspect of Uzbek law from debt collection to business transactions.
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The ultimate guide about debt collection in Uzbekistan
If you are owed money by a business or customer in Uzbekistan, we can help you! We have helped hundreds of other businesses get their money back from debtors in Uzbekistan.
Collecting a debt in Uzbekistan can be difficult, because there are language and cultural barriers, different laws and customs, and it is far away. But it is simpler when you use a collection agency that knows the laws and customs of the country where the debtor lives.
At Debitura, we put people first. We try to get your money back while still being fair to the person you owe money to. Our top priority is making sure that your reputation is not hurt in the process. If you want to read more about how to collect debts yourself, continue reading this guide. But if you would rather have a law firm help you with collecting the debt, we can do that too.
At Debitura, we can help you collect money that people owe you in Uzbekistan and other countries. To get started, upload 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 both people and technology to get results and manage customer contact information. Our method is thorough and gets the job done while still preserving customer relationships. In addition, we have a network of debt collectors, attorneys, suppliers, and vendors that we work with closely. We value all of these relationships equally.
Upload claim
Begin collecting your overdue payments in Uzbekistan right away for no cost. Simply establish a complimentary profile and submit your case within just two minutes.
Pre-legal
We will attempt to recover your claim using our proven pre-legal recovery process for the initial 3 months. Our approach is 100% no-cure-no-pay.
Legal
In case 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 Uzbekistan
Do you have a hard time collecting money that people owe you in Uzbekistan? We can help you get paid by your Uzbek customers. The person who owes money is called the debtor, and the person who gave them the money is called the creditor. If the creditor collects the debt themselves, it's called first-party collection. If they give it to someone else to collect, it's third-party collections.
The debt collection process in Uzbekistan
Uzbekistan's debt collection process usually happens in more than one step.
The image below shows the steps we take to collect debt in Uzbekistan:
1 Upload your claim:
If you don't want to pay off your debt on your own, you'll need to find someone to assist you. One way to do this is by submitting your request on a website like Debitura. By using our service, we'll provide you with three quotes from local partners in the Asian country that is relevant to your situation. The best part is that this service is completely free and without any hidden obligations.
2 Amicable collection:
When trying to collect a debt, the first step is usually to send friendly reminders to the person who owes the money. These reminders can be sent through email, text message, regular mail, and other ways of communicating that are available in the country where the debtor lives. The goal is to get the debtor to either pay the debt or agree to a plan to pay it back. Debitura offers a service where you only have to pay a small fee if they are able to collect the debt for you. This means that there is no risk for you when using Debitura's amicable collection service.
3 Evaluation:
If the person you are trying to get money from (called the debtor) has not paid you back after trying to talk it out nicely, it's time to think about what to do next. We will look at how much money you are trying to get back, how likely it is that the debtor will pay, and other important things to help you decide what to do. There are three common options to choose from:
A: Surveillance:
If the amount of money you are trying to get back from someone is less than 2,000-5,000 euros, it is usually not worth it to go through a long and expensive legal process. In this situation, we suggest using "debt surveillance". This means that we will keep contacting the person who owes you money and try to find a friendly solution that works for both of you.
B: Legal collections:
We suggest that you begin a legal procedure for bigger requests. The way it works will vary depending on what you are asking for and how big your request is. Usually, it will take about a year and a half for the whole process to finish.
C: Debt enforcement:
If the person you are trying to collect money from has admitted that they owe you or a judge has ruled in your favor, you can ask the bailiff's court to help you get the money you are owed. This means that the court will use different methods to make sure the debtor pays you what they owe.
Amicable collection in Uzbekistan
At Debitura, we provide a way for you to get your money back without any risk. Our process for collecting money in a friendly way is very effective. All you have to do is give us the details of the money you are owed and we will begin working on it within one day. Basically, we are a company that helps you collect money that is owed to you quickly and without any worries.
We will try to contact the person who owes you money through different ways in Uzbekistan, such as sending emails, text messages, letters, making phone calls, and using social media.
The goal of this is to:
A) Make the person who owes you money pay back everything they owe you.
B) Have the person who owes you money admit that they owe you and set up a plan to pay you back in smaller amounts over time.
If the person who owes you money has said that they don't agree with what you're asking for, you can't try to come to an agreement without involving a lawyer. Instead, you have to go straight to using legal methods to try to get your money back.
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 Uzbekistan
If you haven't received payment for your claim during the friendly stage or the person you're claiming from disagrees with your claim, we will give you 3 options for local lawyers who can help you collect the debt. During the legal stage, the lawyer will contact the person you're claiming from and try to come to an agreement for payment. Our partners can also take the case to court and get a court order for payment in Uzbekistan. This court order can then be used to make the person pay through the enforcement court.
The amount of money you will pay for legal services depends on how complicated your case is and how much money you are asking for. To find the best deal, it is a good idea to ask multiple lawyers for their prices and compare them. You can easily do this by using a website called Debitura, which allows you to quickly get quotes from different attorneys.
Get started with
legal debt collection
Upload your claim and get 3 FREE quotes from our local collection partners.
Debt enforcement in Uzbekistan
If you have proof that the person you are trying to collect money from has agreed to pay you or a court has ordered them to pay you, you can use a special court in Uzbekistan called the bailiff's court to make sure they follow through on their promise or the court's order.
The way something is done and how much it will cost can be different depending on the situation. To find out more information about your specific situation, you can upload your case to a website called Debitura. After you do this, you will receive three different estimates of how much it will cost within a day.
Get started with
debt enforcement
Upload your claim and get 3 FREE quotes from our local collection partners.
Insolvency proceedings in Uzbekistan
If the person you loaned money to cannot pay you back, the last option you have is to start a process called insolvency. The purpose of this process is to sell the person's belongings and use the money to pay back the people they owe money to, in the order of importance.
Our analysis has shown that the risk of conducting business in Uzbekistan is high. Based on this high score, we recommend always charging upfront payment or using credit insurance when trading with customers in Uzbekistan, as it may be very difficult to get paid. The high risk score is based on the following factors:
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The economic risk in Uzbekistan
Our conclusion based on the economic risk factors, is that the economic risk in Uzbekistan is very high (6 out of 6). An economic risk of 6 out of 6 is high in Asia.
GDP and economic growth are critical drivers for economic risk.
The GDP of Uzbekistan is 69,24 bn. USD (2021), growing by 7,42% per year.
In terms of the size of its economy, Uzbekistan ranks #71 out of 183 countries and has a medium-sized economy.
Having a view at the growth rate, it is ranked #40 out of 183 countries and is therefore considered a fast-growing economy.
GDP per capita is 1983 USD, ranking Uzbekistan number #137 out of 183 countries. This means the purchasing power of citizens in Uzbekistan is low compared to the rest of the world.
You can see a more throughout picture of GDP and economic growth in Uzbekistan 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 throughout overview of monetary data points in Uzbekistan in the table below:
Businesses has an interest rate which is 21,4%.
The business environment risk in Uzbekistan
Our analysis shows that the business environment risk in Uzbekistan is very high (6 out of 6), which is a high risk score in Asia.
Economic freedom and rights determine the business environment risk in a country. Take a look at the important facts for Uzbekistan in the table below:
As you can see above, the property rights index is 58 in Uzbekistan, which is considered quite low in Asia.
The business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study. The Index is 74 in Uzbekistan, a pretty average score for a country in Asia.
Uzbekistan's overall economic freedom index is 58 out of 100 and is based on factors such as the rule of law, regulatory efficiency, and market openness.
The political risk in Uzbekistan
The political risk in Uzbekistan is very high, with a score of 6/6. This is a high political risk score in Asia.
The governance and political stability indicators are important drivers for political risk. An overview of Uzbekistan can be seen in the graphs 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 Uzbekistan, the rule of law index is at -0,89 points, with the score going from -2.5 (weak) to 2.5 (strong). Uzbekistan 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.
The commercial risk in Uzbekistan
In Uzbekistan, 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 Asia.
The commercial risk is influenced by a country's international trade relationships. You can see some of the key facts for Uzbekistan in the table below:
Uzbekistan has a foreign exchange reserve of 35.38 bn. USD.
Uzbekistan has a negative trade balance of -16,4% of GDP. This means that Uzbekistan imports more goods and services than the country exports.
The annual growth of exports of goods and services has been growing 12,67% annually - now 23,74% of GDP. Import of goods and services represents 40,14% of the GDP in Uzbekistan.
The financing risk in Uzbekistan
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 Asia.
The country's banking system, efficiency, and stability influence the financing risk. You can find the extra information for Uzbekistan in the table below:
In Uzbekistan, the credit information sharing index is 7 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 Uzbekistan is medium-high.
This makes it easy for you to understand the credit risk of your counterpart in Uzbekistan. You would 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 6 out of 12 and, therefore, weak.
The high financing risk for creditors also impacts the high interest rate in the private sector of 21,4%.
Debt Collection in Uzbekistan: Frequently Asked Questions
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In Uzbekistan, debt collection usually happens in multiple steps. If you need help collecting a debt, you can upload your claim on a website like Debitura, which provides you with quotes from local partners. The first step is usually amicable collection, where reminders are sent to the debtor to pay or agree on a payment plan. If this does not work, a surveillance process can be used for small amounts, or a legal procedure can be started for bigger requests. Debt enforcement can be used if the debtor admits to owing you or if a judge rules in your favor.
In Uzbekistan, the debt collection process involves three steps: pre-legal collection, legal debt collection, and debt enforcement. The first step is sending friendly reminders to the debtor to get them to either pay the debt or agree to a payment plan. If this doesn't work, there are three common options: debt surveillance, legal collections, and debt enforcement. The process for legal collections can take up to a year and a half to complete. If the debtor admits to owing money or a judge rules in your favor, the court can enforce the debt.
If the debt is disputed, a civil lawsuit is required for debt collection in Uzbekistan. Legal options include debt enforcement and insolvency proceedings, which require a local lawyer. Lawyers can try to come to an agreement for payment or take the case to court for a court order for payment. Insolvency may be necessary if the debtor cannot pay back the debt. Legal fees depend on the case's complexity and amount. Debitura can help find affordable legal services by comparing multiple attorneys' prices.
Debt collection costs in Uzbekistan vary depending on your specific case and desired actions. At Debitura, we offer a no-cure-no-pay model with a success fee between 10-20% for pre-legal collection. Legal actions may cost differently, but we can provide 3 quotes from the best debt collection lawyers in Uzbekistan. Contact us for more information.
The length of time it takes to collect a debt in Uzbekistan varies depending on the debtor and the case. If the debt can be resolved in the pre-legal phase, the process typically takes 3-6 months. However, if legal action is required, it can take 12-18 months to collect the debt. It's important to work with a knowledgeable debt collection service provider who can help guide you through the process and maximize your chances of success.
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