Debt collection Moldova

About Moldova

Moldova has small import-based economy that heavily depends on world economy and  situation in neighbor countries, especially Russia and Romania.

The main partners in foreign trade are Russia and Ukraine from CIS, Italy, Germany and Romania from Europe. Import from China is also considerable.

Moldova has western culture very close to Romanian but also with strong influence from Russia  because of  being part of USSR and then CIS.

National language is Moldavian from Eastern Romance languages group; it is very close to Romanian. Fluent Russian is spoken by majority of population with English being language of business and young people.

The main challenge to collect debt in Moldova is financial instability and problems with cash flow for the most debtors.

How to collect debt in Moldova?

Amicable collection is the most effective and cost-saving way to recover debt in Moldova. 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 still possible even after statute of limitations (3 years) expired, though chances to collect in such case would be quite 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 Moldova.

What we do to recover a debt in Moldova?

  • 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 Moldova?

Average time to recover debt in Moldova is 67 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.

Why LECCIS?

  • we have positive debt recovery experience in Moldova
  • we know local Moldova laws, finances and customs
  • we speak local Moldova 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.