Find the best debt collection agency in Thiruvananthapuram

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1. Fill in the form
In just 2 minutes, we'll gain an understanding of your business needs and the type of assistance you require.
2. Compare quotes
We'll select 3 Thiruvananthapuram experts to suit your requirements. Personalized quotes at competitive prices are assured.
3. Chose the best
Choose the most appropriate quote from the collection service or law firm you wish to employ.

Our local partners

Ferry Dhiman & Co.
KNo 937 Sector 79 Mohali Pb India India, India
Experience international debt recovery success with Ferry Dhiman & Co., a leading Law firm in India. Specializing in Tax, Corporate Laws, and effective cross-border debt recovery since 2001.
Attorneys Desk
B-3,Behind Perfect Driving School, Sector 2, Vashi Navi Mumbai Navi Mumbai, India
Unleashing the power of tailored legal solutions, Attorneys Desk is a first-generation law firm in Navi Mumbai, established in 2015 by Advocate Radhika Ingole Thakker. Committed to delivering prompt, personable services, we cater to both individuals and businesses.
Chirag Shah & Co
605 pearl plaza Andheri West, India
Empowering clients with unparalleled legal solutions since 2008, Chirag Shah & Co is a dynamic Law firm in Andheri West, Mumbai. Specializing in domestic and international law, our team of experts simplifies the legal process with superior strategy and swift response.
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We are so thankful that Debitura helped us find an amazing debt collection attorney in Thiruvananthapuram at a fantastic price! Their model really works and it thoroughly opens up the marketplace.
Neha Bose - business owner in Thiruvananthapuram
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Using Debitura to find a collection partner has been such a positive experience for us, since they are familiar with the local geography and nuances of the various areas within India.
Hemant Patel - business owner in Thiruvananthapuram
4,75/5
Average rating of our services in Thiruvananthapuram
84%
Average debt recovery rate in Thiruvananthapuram
41%
Average cost saved when using our collection service in Thiruvananthapuram
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Guide

How to collect an unpaid invoice from a debtor in Thiruvananthapuram?

If you wish to retrieve a refund in Thiruvananthapuram, India, read on for guidelines. This tutorial will cover the basics of gathering debts in Thiruvananthapuram. If you need a nearby debt retrieval firm or solicitor for support, please fill out our application and receive three free quotes within two days!

Overview of the debt collection process in Thiruvananthapuram

In Thiruvananthapuram, debt collection is a multi-step process that is customized to suit each claim. We carefully examine the details of each case before beginning the collection process and adjust our strategy according to the size of the claim, type of debtor, and other relevant factors. By tailoring our collection efforts to you, we are able to consistently provide the highest recovery rate in the industry.

The image below explains our standard framework for collecting debt in Thiruvananthapuram:

Step 1: Find a local collection agency or attorney

Send your case to Debitura, and you will get three bids from debt recovery agencies near Thiruvananthapuram that are willing to help.

Step 2: Pre-legal collections

We start out by launching a communication drive in Thiruvananthapuram, bombarding your debtor with letters, texts and emails, so that they have no choice but to face their debt and begin making arrangements for repayment. No money comes out of your pocket unless our mission is successful and we recover your due payments.

Step 3: Evaluation:

If you have not received payment from the debtor after previously implemented measures, it is time to analyze the subsequent action. We will assess the magnitude of your claim, the chance of payment, and the Indian legal regulations in the area of Thiruvananthapuram to advise you in making the right call. There are generally three possible subsequent steps that can be implemented in India:

Step A: Surveillance:

If your claim is equal to or under 5000$, it may not be economically beneficial to move to formal legal measures. Thus, we propose to pursue an alternative route of "debt surveillance", which entails regularly contacting your debtor to attempt to arrange an agreeable resolution. This is basically a continuous pre-legal procedure. We will swiftly give you a necessary advice if anything in the situation transpires.

Step B: Legal collections:

It is advisable to initiate appropriate legal action if your claim is greater than $5,000. This figure, however, can vary on the basis of the debtor's capacity to pay and other relevant factors. The type of procedure and the duration of debt collection may also differ, usually taking 12 - 18 months, and require a fee to cover legal expenditures. To get the best possible service at an acceptable rate, it is recommended that you obtain quotations from different debt collection lawyers in Thiruvananthapuram.

Step C: Debt enforcement:

If you have been acknowledged by the debtor or you possess a court order, you may take recourse to the bailiff's court to realize your demand. The minimum period for this strategy to bear fruit is 12 to 18 months in Thiruvananthapuram. Primarily, you need to pay a fixed fee to the court and a legal commission to your debt recovery lawyer. This amount is subject to fluctuation, depending on the extent of your requirement. For this purpose, you can upload your claim to Debitura to obtain an accurate estimate.

Cost of debt collection in Thiruvananthapuram

Average success fee for pre-legal debt collection in Thiruvananthapuram

The cost of debt collection in Thiruvananthapuram can vary depending on the size of the claim and the stage of the debt collection process. Generally, a success fee will be levied if the debt is recovered through amicable collection. The cost of the success fee is dependent on the magnitude of the claim.

Size of your claimSuccess fee
< 1000$27,5%
1000-5000$16,5%
5.000-10.000$13,2%
>10.000$10,45%

Hourly rate for legal-debt collection services in Thiruvananthapuram

To initiate legal action for debt collection in Thiruvananthapuram, you will incur two types of cost: court fees associated with the size of your claim and legal assistance at an hourly rate. The final cost of legal assistance will depend on the complexity of the claim and the number of hours required. Below is a table displaying the average hourly fees for debt collection attorneys in Thiruvananthapuram.

hourly rateCategory
< 100$Very low cost
150$Low cost
225$Medium high cost
> 275$High cost

Thiruvananthapuram city risk profile

We have examined Thiruvananthapuram's critical financial data and extrapolated a risk assessment. You can use this analysis to assess your payment terms and manage your risk when doing business with customers in Thiruvananthapuram.

Low risk
5-10
Medium-low risk
11-15
Medium risk
16-20
Medium-high risk
21-23
High risk
24-26

Our analysis concludes that the risk of running a business in Thiruvananthapuram 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 Thiruvananthapuram well. If possible, provide a short credit period or even better upfront payment.

The medium-low risk score is based on the following factors:

Economic Risk:
4
Business Risk:
4
Political Risk:
3
Commercial Risk:
1
Financing Risk:
2
Economic risk in Thiruvananthapuram

India's economic risk is classified as medium-high (4 out of 6). Its GDP stands at 3173.4 bn. USD, ranking it #7 out of 183 countries, and is growing 8.95% annually. Its GDP per capita is 2277 USD, making it the #131 most powerful economy. Additionally, India has a medium inflation rate of 5.1%, with a business credit interest rate of 8.7%. Overall, India ranks average in terms of economic risk when compared to other countries in Asia.


Business risk in Thiruvananthapuram

Business risk in the city Thiruvananthapuram is moderate-high, according to analysis of economic freedom and rights. Key factors include property rights index of 59, Freedom from corruption index of 48, Fiscal freedom index of 79, Business freedom index of 77, Monetary freedom index of 72.1, Trade freedom index of 69, Investment freedom index of 40 and Financial freedom index of 40. India's overall economic freedom score weighs in at 57/100. This puts Thiruvananthapuram in the average risk range in Asia, with the business freedom index making up the majority of this score.


Political risk in Thiruvananthapuram

Thiruvananthapuram, the capital of Kerala, India, is no stranger to political risk. According to the data, the rule of law index for the city stands at -0.08 points, signifying relatively weak rule of law. Government effectiveness and control of corruption indicators are also weak at 0.28 and -0.29 points respectively. This may mean that contracts are hard to enforce, so those conducting business in Thiruvananthapuram should consider charging upfront payment instead. It also indicates a high risk of corruption and lack of political stability. The shadow economy for Thiruvananthapuram is 17.89%, which is considered average in India. In conclusion, political risk in Thiruvananthapuram is classified as "medium", though it appears to lean towards more of a high risk level. Businesses operating in the city should proceed with caution, taking into account the weak governance, corruption and political stability indicators.


Commercial risk in Thiruvananthapuram

Thiruvananthapuram, India boasts a low commercial risk score of 1/4, in stark contrast to the average in Asia. This score is heavily influenced by the country's international trade and investment. India's foreign exchange reserve amounting to 638.48 bn. USD, demonstrates economic strength that could be directed towards further growth. With a negative trade balance of -2.05% of GDP, imports far exceed exports. The annual growth of exports of goods and services is at 20.81% of GDP, while imports are at 22.86%. This shows that there is a high level of opportunity and potential available in Thiruvananthapuram, India as investments become more secure and the economy is bolstered by a strong exchange rate.


Financial risk in Thiruvananthapuram

In Thiruvananthapuram, India, creditors of the banking system are provided with low financial risk. This is evidenced by the banking system efficiency and stability, which is at a high level of 9 out of 12. This is further supported by an index of legal rights for creditors and borrowers of a score of 7 out of 8. The real interest rate for bank lending rate minus inflation is at -0.82%. The low financing risk, combined with the high level of efficiency and stability of the banking system, has resulted in a relatively high interest rate of 8.7% within the private sector. Thus, creditors have access to reliable credit information which makes it easy to evaluate the credit risk of counterparts.

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