The CSO statistics for 2017 show that there are twice as many debt collection companies as loan companies in Poland. From year to year, however, these trends will increase, because, unfortunately, the debt of Poles is also increasing. Debt collection is around 63-65%, of which over half is the result of external debt collection companies.
Debt exchange as a source of information
Scaring debtors BIK, BIG and other databases, where their data is placed, gives ever smaller effects. The reason is simple: these data are hidden and available only to specific entities (banks, financial institutions, loan companies). That is why open debt registers were created, in which information about debtors delaying the payment of their liabilities is visible immediately, and their data is available after entering them in the internet search engine. Importantly, such a debt exchange operates completely legally and lawfully, because it provides data confirmed by documents (invoices, bills), and most often also court judgments and bailiff’s orders regarding debt repayment.
Sale of receivables
There is no doubt that the debt exchange has become an effective scare for customers who avoid paying their debts. The amount of debt or its form and where it arose does not matter. On the stock exchange you can place a debtor who does not repay the loan or borrowing, has not paid the invoices and bills issued, delays in paying for the service rendered, etc. The condition is to present a document confirming the existence of the debt. If placing the debtor on the debt exchange does not help and encourage him to pay the debt, the company may sell this debt to entities specializing in buying financial debts. He pays a small fee, but for this he gets the cash he owes and he doesn’t have to worry about anything. The debt collection company, which begins the debt collection process, is taking over the problem of the defiant debtor avoiding liability.
The information contained on the debt exchange is mainly used by entrepreneurs looking for the data of their potential contractors, partners or even clients. They can check to see if the person or company has debt problems and will be a good business partner. However, the largest recipients are debt collection companies that find potential clients ready to sell their receivables there. For debt collection companies it is a huge income, and for the debtor another problem, because the final costs of debt that will have to cover significantly increase.