Debt collection companies return 264 M euros to Romanian economy, in 2009

The debt collection companies managed to return no less than 264 million euros to the Romanian economy, in 2009, representatives of the Commercial Debt Management Association (AMCC) announced on last Thursday, March 25. In the context of the deepening global economic crisis, the debt collection companies managed to recover as much as 264 million euros for the Romanian economy, which was of great help against bankruptcy for many companies, said the representatives of AMCC.

The debt volume increased by 76 percent in Romania, in 2009, compared to 2008, a number of 3.7 million credits reaching up to a value of 1.1 billion euros, but with the collection success rate having dropped 25 percent. According to the AMCC, one of the main trends on the collection market in 2009 was represented by the growth in the volume of non-performing debts. At the level of the AMCC members only, there were sold as many as 300,000 debt portfolios, amounting to 227 million euros.

In 2009, the number of court cases involving collection of debts grew, against the friendly recoveries, leading to an increase by 42 percent in the personnel dealing with such problems, compared to the situation in 2008. The ten companies member of the AMCC cover some 80 percent of the market share in Romania and have achieved revenues worth 19 million euros from collecting debts, Agerpres informs.