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Facts

Debt management is a long known and acknowledged financial activity; however, for most people it is still an unknown area. Below you can read about some key professional concepts and frequently asked questions – in this way you can have a clearer and more transparent overview of the activities of our company and the industry.

Should you have further questions on our company or need information about your case, on the management or purchase of debts, do not hesitate to contact our colleagues or the Client Service.

Faq

1
What is debt management?

Debt management is a service where an overdue and undisputed debt is collected from the debtor by the creditors or a debt management company engaged by them before initiating a judicial procedure.

2
What is the debt management approach at CREDITEXPRESS?

We always seek a solution that is comforting and appropriate for all. After we have contacted the debtor – whether via the phone, in a letter or in person – we assess all possible methods of repayment and, if necessary, we offer customised payment relief or payment in instalments.

3
Why did CREDITEXPRESS contact me?

Your creditor concluded a contract with us for the management of debts, to represent its interests during the settlement of debts.

4
What should I do if I have been contacted by CREDITEXPRESS?

In order to find a solution that suits you, the most important thing is to contact us as soon as possible. This way, you can indicate in time if you feel that the claim is unlawful or that you have payment difficulties.

5
Is the activity of CREDITEXPRESS lawful?

Our company has been engaged in debt management since 1999, and belongs to a Group already present in 13 Central-Eastern European countries, with more than 3,000 clients. The company is a member of several professional associations; we carry out our work in compliance with our strict Code of Ethics and the legislation in force.

6
How can I settle my debt?

You can pay up your debt in a single amount or, if necessary, in instalments. Please note that failure to pay your arrears by the set deadline might result in further costs being added to it.

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Should you need further information, do not hesitate to contact our colleagues or the Customer Service.
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Basic Terms (A to Z)

B
Bankruptcy

A procedure requested by the debtor in defence of the debtor, which he can apply for if he is unable to pay the creditor. During the term of this procedure the debtor cannot be challenged and he receives a moratorium and protection from his creditors, i.e. no enforcement or liquidation procedure can be initiated against him.

C
Claim

It means a debt arising from lending money, goods or services.

Co-debtor

The co-debtor has the same obligations as the debtor. It has the same liability for the payment of the debt.

Collection

During the collection we contact the debtor, send him payment notices, and may offer payment in instalments or with rescheduling arrangements. During the collection we seek to settle the debt efficiently on the basis of negotiations. Right from the beginning of the process, CREDITEXPRESS liaises with the debtor.

D
Debtor

Means a natural person, legal person or other entity that owes money or has other payment or other obligations.

Due date

The date by when an amount owed is payable. If it is not paid by the specified deadline then this amount is to be considered a debt.

Basic Terms (A to Z)

E
ENFORCEMENT PROCEDURE

It means a regulated legal process, as a result of which the creditor might receive the relevant goods or money if the debtor fails to fulfil his assumed obligations voluntarily.

F
FACTORING

Factoring means the selling of claims. This debt can arise from any legal relationship that entails a payment obligation

O
OBLIGATION

A monetary debt the debtor is required to pay under legislation or a contract.

Contact

Should you have further questions on our company or need information about your case, on the management or purchase of debts, do not hesitate to contact our colleagues or the Client Service.
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