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Law firms instead of collectors

31/05/2018

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In recent years, the debt collection market in Armenia has become more active. The process has nothing to do with "mafioso" collectors that we usually see in Hollywood or Russian movie. Instead there are law firms in Armenia offering, among others, debt collection services.

Market Development in Armenia

The debt collection market in Armenia started to develop in 2010-2011. Before, a number of organizations had already tried to consider the option of selling their debt or transferring it to some collection service.

There are organizations in the world that also purchase debts. For instance, they purchase the debt of 1 million AMD at 500 thousand AMD and their further profits depend on the progress in the case. This sale system seemed to have failed in Armenia; whereas, it cannot be excluded that a few such cases occurred. Instead, the service market started developing and stimulated the debt collection process. In fact, these services are used by telecommunication companies, banks, universal credit organizations and theoretically may be also used by other public service providers.

How is debt collection carried out in the Armenian market? Is debt collection deemed legally legitimate Aram Orbelyan, Senior Partner, Attorney, Concern-Dialog law firm, featured answers to these questions in his interview to Banks.am.      

    https://banks.am/en/news/interviews/15576

   

1 Charents str., Office 207 Yerevan, 0025, Armenia

+374 60 27 88 88 +374 10 57 51 21

1 Charents str., Office 207 Yerevan, 0025, Armenia

+374 60 27 88 88 +374 10 57 51 21

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