Growth of debt collection to slow down 20-25% in 2008

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The Romanian market of debt collection will slow down in 2008 because of the restrictive norms of crediting imposed by the National Bank of Romania (BNR) and the rise in the number of debts, which makes the activity of the companies of collection more difficult, said on September 17, country manager of the leader of the collection market, EOS KSI Romania, Georg Kovacs.
 
‘’The market will go up slowly this year, by 20-25% over 50% in 2007, because the number of debts grew and their collection is much more difficult. The market will be influenced also because BNR’s newest crediting norms,’’ said Georg Kovacs.
Kovacs said the number of cases sent to court would increase as well, leading to the rise in the costs of collection agents.
‘’Most debts of the banking system, t6he main engine of the market of debits are in the segment of consumer loans, along with loans for personal need and credit cards,’’ said Kovacs.
 
Although the loans with mortgage guarantees reports the lowest level of debits, the behaviour of population and of business operators might change.
‘’In the United States the population’s behaviour changed so that precisely the segment of mortgage loans grew most last year and this year,’’ said the official of EOS KSI Romania.
 
At present, the local market of claims’ collection stands at 25 million euros, being dominated by the figure that cumulates the activities of companies of collection with those of the law firms which run this activity.
On the first three places on the market of claims are EOS KSI with a turnover worth 10 million euros in 2007, Urban and Coface with turnovers of over 2 million euros. The market is dominated by 10 important players alongside other 30-40 smaller and medium-sized companies.
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