FAQ.

Here are the most frequently asked questions. But we can answer a lot more if you like. Just get in touch.

Your questions. Our answers.

  • This is one of the core challenges which the companies face every day.

    A very important role has the early prevention. The first step is to check whether the people and companies you do business with are creditworthy. Before dealing with them. That way, you significantly reduce bad debts.

    Once you have approved a client, set them a credit limit and make sure they don’t exceed it. Stay on the look-out for potential early warning signs of future payment problems, including:

    • change of payment method (e.g. moving from bank transfer to payment by cheque or cash),
    • new bank details, which can suggest problems with previous banks,
    • frequent changes of address.

    We are experts in optimizing cash flow and improving levels of liquidity: we collect your receivables quickly, while preserving the good relations with your customers.

    We can help in a way that suits you.

  • Handing over receivables management to us lets you concentrate on your core business. You will be safe in the knowledge that experts are taking care of your receivables.

    Because we’ve done this thousands and thousands of times before, our expertise, experience and systems are refined to get more debts paid and faster – so you can benefit from more liquidity. For investments that grow your business, or even to pay your own debts to contractors.

  • Litigation is expensive and you can be waiting a long time for a court ruling. We always try to settle the issue out of court first, and only consider court proceedings if that fails. Not only does this save money, but you usually get paid faster and can retain good relations with customers.

  • Our priority is getting your cash fast while maintaining good relations with your customers. We always apply individual approach to each customer, taking into account their financial circumstances. Over the years, we have refined our process by applying the following key instruments:

    • Written reminder - we first inform your clients of the due amount in writing by post letter or email
    • Telephone reminder - we connect with your customers by phone or send them text message
    • Legal actions - if, after multiple calls and reminders, your customer still does not pay, we will analyze the factual situation and will recommend the possible legal actions. Our extensive experience and knowledge enables us to advise you on whether legal action has a good chance of success.

    Our exact process is determined by the individual case and it's tailored to the specific needs and the existing internal process.

  • Debt collection agencies are usually more successful because collection is their core activity. We have specialised know-how, human resources and technology.

    In contrast, most small and medium-sized enterprises put accountants or sales agents in charge of debt collection. This extra task adds to the employee’s workload and is low down on their list of priorities. The results can be a low level of collection and/or worse performance in the company's core business. We therefore strongly recommend using a dedicated collection agency. Let your employees concentrate on your core business. And what’s more: you’ll unlock more liquidity by minimising non-payment.

  • That depends on your wishes and needs. Our professionally-designed processes ensure we work hand in hand with the internal credit and collection department. Your departments can focus resources and energy on evaluation and selecting customers, and on the early stages of the collection process.

  • In many cases, using an external collection agency has a positive effect on your image. Investors, suppliers and customers will know that you are serious about your business projects and keep loyal business relationships.

    At EOS, we work with focus and understanding, always looking for a "win-win-win" solutions, and keeping in mind that the debtor is your customer. We know how valuable customer relationships are and do our best to protect them.

  • Each service we offer is tailored to the client, so we cannot provide a list of prices. In general, the cost of the services is based on a percentage of the amount actually collected. The level of commission depends mainly on the age of the remaining arrears. The older your debt, the higher the commission (experience has shown that it is more difficult to collect older debts). Please get in touch and we will be happy to prepare an individual proposal.

  • ЕОS is the leading debt-purchasing and debt-collection agency in Bulgaria. We are part of the EOS Group, the leading international financial services provider, with a focus on debt management. EOS’ headquarters are in Germany. The group has offices in more than 25 countries across Europe and North America and more than 40 years of experience in collecting receivables of more than 20,000 customers. We have over 40 years’ experience in debt collection and more than 20,000 clients.

    EOS has been working in Bulgaria since 2002. As a member of ACA International - USA and as co-founder of the Association of collection agencies in Bulgaria, we select and apply the best practices and technologies for receivables management. In our work we are guided by the established international standards in the field of receivables management and the understanding that our goal is not only to collect the debt but also to preserve the good image of the organization we represent.

  • Initially, we only need documents confirming the debt, e.g. a copy of the invoice, a receipt for the goods, and the acceptance and transfer records.

    Later on, we may need more documents, depending on the individual case and the development of our communication with the defaulting customer.

  • ЕОS Matrix is registered as a personal data administrator under the Personal Data Protection Act, and complies with the provisions of current Bulgarian and European data protection legislation, including Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of individuals with regard to the processing of personal data and on the free movement of such data, applicable from 25.05.2018. For more information on confidentiality and data processing, go to Privacy Policy section on this website.

  • Yes. ЕОS Group has offices in over 25 countries worldwide and has numerous partnerships across the globe. We can offer debt collection services in more than 180 countries through our well-developed partner network.

    The processing of the debts in any particular country is done by the local subsidiary of the EOS Group or by our trusted local partners who know the national specificities of the country, speak the language of your customers and apply the same internationally accepted good practices as we do. Contact us to tell you more.