Collection Agency: Major part of troubled loans in Azerbaijan are repaid by guarantors

Collection Agency: Major part of troubled loans in Azerbaijan are repaid by guarantors
# 29 March 2013 11:57 (UTC +04:00)

Baku. Ali Ahmedov – APA-Economics. Major part of troubled loans in Azerbaijan are repaid by guarantors, said the Director of BOA Collection Agency Samir valiyev.

According to him, BOA has worked with 1,500-2,000 debtors since it launched. Most of them were bank debtors. The most interesting is that, the majority of payers are guarantors.

Regarding main problems which collection agency face often, Mustafayev says main difficulty is that the employees of Executive Department of Ministry of Justice have much works: “This makes our work hard. Because of we must visit debtor’s houses with them. IN this case we do our best to help them, even supply them with cars”.

“Many works were conducted during 8 months, but we feel greater potential. For this purpose, we established sale department to involve potential clients”, he said.

The company has 7 lawyers and 10 collectors: “Al of them are high-level specialists. We created all comfort conditions for them. All these cost more than expected”.

From next year, the company will see benefit: “We analyzed market and made a plan. According to our calculations, we expect benefit after certain time”.

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