Debt collection Armenia

About Armenia

Armenian has small economy which is oriented on small-scale agriculture.

Armenian economy is particularly dependent on Russian commercial and governmental support, as most key Armenian infrastructure is Russian-owned and/or managed, especially in the energy sector.

Foreign trade is weak since Armenia has only two open trade borders – Iran and Georgia. Its borders with Azerbaijan and Turkey have been closed, as a result of Armenia’s ongoing conflict with Azerbaijan over Nagorno-Karabakh region. Foreign trade balance of Armenia is negative.

The main partners in foreign trade are CIS countries, like Russia and Ukraine. The main partners from EU are Bulgaria, Germany and Italy. Asian partners are represented by neighbor Georgia, Iran and China.

Armenia is one of the only mono-ethnic countries in the world, with ancient culture and preserved ancient language – Armenian, which is country’s official language. Russian language has no official status, but it is still widespread on the territory of Armenia; majority of citizens speak Russian.

The main challenges to collect debt in Armenia are:

  1. Widespread corruption and inadequate rule of law;
  2. Lack of transparency and an unequal playing field for competition;
  3. Economic isolation from Turkey and Azerbaijan.

How to collect debt in Armenia?

Amicable collection is the most effective and cost-saving way to recover debt in Armenia. It is advised to refer case to collection when the debt is delinquent over 3 months. The less delinquency is the more chances to collect debt are.

Amicable collection is applicable almost in any case apart from case of debtor’s bankruptcy or liquidation.

Amicable collection is still possible even after statute of limitations (3 years) expired, though chances to collect in such case would be very small.

Whether amicable pre-legal collection proves to be ineffective, we check prospects of legal actions to recover the debt. Whether debtor is solvent and prospects are good, we will suggest optimal solution how to recover debt via legal actions in Armenia.

What we do to recover a debt in Armenia?

  • study case details
  • find core reason of failing to pay
  • find debtor’s decision makers and financial controllers
  • resolve language and cultural issues to reach payment agreement between creditor and debtor
  • resolve legal and administrative problems to facilitate pending payments
  • consult in finances to enable debtor to pay
  • consult in local legislation and business threats to convince debtor to pay
  • prepare case for legal actions
  • file and support claim in court
  • support enforcement of court award

How long it takes in Armenia?

Average time to recover debt in Armenia is 84 days.

What the fees are?

We charge success fee in form of percent from any money recovered.

No collection – no fee policy applies.

For legal collection, fees are calculated individually for every case, depending on nature of the case, debt amount, debtor’s location.


  • we have successful debt recovery experience in Armenia
  • we understand local Armenian languages
  • we charge no fees, unless debt is recovered
  • we provide operative reporting

How to send case?

  1. Send your unpaid invoices and supporting documents for our review.
  2. Sign our debt collection contract and POA received from the manager.