The National Bank of Ukraine included LLC “Collector’s Company Prime collect” and LLC “International Alliance for the Protection of Creditors” in the register of collection companies. About this reported press office of the regulator.
The decision was made by the Committee on Supervision and Regulation of Non-Banking Financial Services Markets.
As the NBU emphasizes, only those companies included in the relevant register have the right to provide debt settlement services for consumer loans for the benefit of third parties. Collection companies are financial institutions created to work with so-called “problem debts” according to current legislation.
In order to carry out collection activities, a mandatory condition is the entry of the company into the register maintained by the National Bank of Ukraine.
Debt collectors do not have the right to forcibly collect debts, but they can go to court to resolve the issue. In the case of a positive court decision, they have the opportunity to involve the enforcement service to collect the debt.
