How to Collect Debts in Turkey?
Since 2011 ARS Consultancy had been working with a wide range to collect debts in Turkey. Nowadays, ARS Consultancy is the Turkey’s first and largest International pre-legal debt collection agency. Also Turkey has as an full integrated economy in the World. And our country had struggled in the recent months along with other countries against to covid19.
2020-2021 Default Trends
Default rates have increased around the world given current market conditions. We can give this exapmle; Slow growth in developed economies, the strengthening of the dollar in the world market. And slow but persistent inflation, particularly in the price of commodities are are example for this situation.
This has had a negative impact on emerging markets to collect debts in Turkey. Also, in China, with the world’s largest credit market after the US, the pace of late payments reached a new record in 2021, crossing the 100 billion yuan (USD 15 billion) mark. Notable sources of risk include real estate developers and local state-owned companies.
But the good news is that late payments are still manageable. At the macroeconomic level, Turkey is one of the few economies in the world. Because of that Turkey experienced an economic growth of around 3% in 2020. And it is expected to still grow in 2021. This is explained by the credit stimulus that allow companies have liquidity to maintain their working capital. So according to collect debts in Turkey, we are continue to discuss this subject.
The challenge is clear. At the debt collection process in Turkey consist to get companies and individuals to prioritize their debts with Creditors abroad. This is mainly explained by the simple reason that the Turkish lira has suffered successive devaluations. And it leads domestic agents to delay their debts in stronger foreign currencies (EUR, GBP, USD, RUB, among others) or deferral payments.
The second good news is that in Turkey, the ARS Consultancy team has been working very closely with this type of scenarios. So, ARS Consultancy is professional to collect debts in Turkey . Our main focus is on finding payment possibilities for our clients. Even in contexts where companies prioritize their commitments either with employees and local suppliers.
Given this situation, the Amicable Collection in Turkey payment plans are sought . We can do these depending to debtor’s possibilities and without compromising the foreign creditor’s cash flow.While we provide you with better & more efficient cash-flow by collecting your in Turkey. We also make it possible for you to focus exclusively on your business. And you do not put extra effort to collect debts in Turkey.
No Recovery, No Fee to Collect Debts in Turkey
While we diligently do all of the above, we work on a commission basis. But we also do not want you to spend extra money for an already uncollected receivable. Hence, we work with a “No Recovery, No Fee” principle to collect debts in Turkey. This means we demand our commission fee only after collecting the amount. Also our commission is depending to upon the collected amount, on our pre-agreed commission rate. This secures you from spending extra money before collecting your receivables.
As the leading Debt Collection Agency in Turkey, ARS Consultancy not only provides the services mentioned above. But also stands out as one of the pioneering companies in the Debt Collection sector as the Turkish partner of GCS Group. And it has official memberships at ACA International, IACC, FENCA, TCM (agent), CSA-UK and ALQ (American Lawyers Quarterly).
In addition, we, as ARS Consultancy, do provide our mentioned services all around the globe with both pre-legal and legal solution partners in 155 countries and over 4.000 professional agents. Our partners are here to make sure your case is being worked on with best communication, knowledge and familiarity to different local customs & financial landscapes.