CREDIT EXPERT is an online platform where you can quickly and easily register a debt and transfer it for the collection.
- Recover most of the debts by selling them to us;
- Create your own user area and monitor the collection process;
- Quickly contact lawyers and get your money back without any difficulties and lengthy litigation.
We don’t charge registration fees!
We don’t require prepayment for accepting the case!
Purchasing of Debt
After you are supplying us with all the relevant documents relevant to your bad/late debt (loan Agreement, cooperation agreement, invoices, way-bills, credit notes, etc.) We are accessing, evaluating and purchasing your debt in cession. Cession (legal term) or purchase of debts means that the right to claim on the particular debt or late payment is transferred from one creditor to another for remuneration.
The recovery of debts can be lengthy and complicated. CREDIT EXPERT purchases individual debts or the portfolios of debt cases in cession, thus reducing possible losses of creditors and ensuring fast recovery of the debt or late payment amounts.
Selling of Debt:
- Provides fast recovery of cash from the debt sold;
- Allows avoiding the lengthy, complicated and costly process of debt recovery in court/legal processing;
- Exempts the balance sheet of the company from the frozen assets;
- Reduces potential losses, allowing efficient use of the recovered money in business or private use.
Debt Recovery services
The experience in debt recovery shows that up to 85% of debts can be recovered by extra-judicial proceedings.
Our professional and knowledgeable debt recovery specialists ensure:
- Quick recovery of debts
- Responsive attitude to the debtor
- A sustainable relationship between the creditor and debtor.
By far the most cases even after our recovery of the debt or late payment obligations, the debtor will stay a loyal customer of the creditor.
All the offered services are provided in accordance with the laws and regulations of the Republic of Georgia and the internal Code of Ethics of Beta Kapital Group of companies (see there…)
Extrajudicial recovery of debts and monitoring or encashment
- The client opens his account in CREDIT EXPERT home page and sends all relevant documents to CREDIT EXPERT in electronic format;
- CREDIT EXPERT will evaluate the debtors, documents and will come back to the client with an offer. The debtors indicated in the application form and debt documents are entered into the CREDIT EXPERT debt processing system no later than one working day;
- A cooperation agreement between Client and CREDIT EXPERT is being signed.
Within one working day after the contract has been signed the debt recovery process is being initiated and includes the following:
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- Sending warning letters and messages;
- Telephone communication with the debtor, notification about late payments and possible consequences in case of debt default;
- Searching for contact information. If the debtor’s contact information is not available or is incorrect, a search for the current information is being started immediately and is not stopped throughout the processing period of the case;
- Development of payment schedule, taking into account the interests of the creditor and the resources of the debtor;
- Payment control, monitoring of the agreement implementation is being carried out after an agreement with the debtor on the full payment of the debt or debt payment terms;
- Data registration of the debtor in the debt history database of CreditInfo.
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Legal proceedings and Recovery of debt in court
In case it is impossible to recover the debt using extrajudicial methods, CREDIT EXPERT offers clients professional legal services for debt recovery through Republic of Georgia court state.
Debt recovery through the court includes the following services:
- Legal consultations on choosing the most appropriate legal proceedings;
- Preparation of necessary documents;
- Handling the claim in court to start litigation process;
- Representing creditor at court;
- Preparation of documents for sworn court bailiffs (state or private);
- Forced execution of court ruling;
- Controlling the work of court bailiffs.
Debt and payment monitoring
CREDIT EXPERT offers monitoring services to corporate clients allowing creditors and suppliers to follow their clients payment discipline and prevent the build-up of the overdue payments and slipping in-to situation where client or a business partner goes in-to insolvency with substantial overdue payment due to poorly monitored payment discipline.
CREDIT EXPERT offers monitoring the changes of debtors legal status:
- Monitoring of insolvency — the client is promptly notified about the announcement of the debtor’s insolvency proceedings.
- Monitoring of inheritance — the client is promptly notified about the debtor’s reception of inheritance.
Monitoring services are provided under a separate agreement and cover only the debtors, whose cases are submitted to CREDIT EXPERT for debt recovery.
Payment for extrajudicial debt recovery services
The policy of CREDIT EXPERT states that companies assigning debtors for processing pay only for the achieved results. The fee for the service is calculated from the recovered debt amount. A specific amount of remuneration (as a percentage) depends on the duration and amount of the debt and the number of cases assigned for processing.
The client is informed if the debtor refuses from the fulfilment of debt or late payment commitments and any cooperation, and further debt recovery actions are recommended, providing the following options:
- Judicial recovery of debt;
- Initiation of insolvency proceedings of the debtor;
- Selling the debt;
- Other appropriate actions.