Frequently Asked Questions
What is the minimum and maximum value of the claim for recovery?
There is no minimum value of the claim in our company. Likewise, we have no maximum value of the claim, but generally speaking, the majority of claims we usually process is between 10.000 and CZK 2 millions. Generally, we are able to process any claim, regardless of its size. Some of our clients sends us one or more claims regularly, others about tens or hundreds of claims for collection at one time.
How do I establish cooperation?
It's very easy. Contact our sales representative either by phone or email and ask for an information meeting or arrange sending the contract documents straight. Send printed and signed forms to our address. Upon receipt of the signed papers, your contract is entered into the system and you will receive a transfer protocol (excel table) on your e-mail address provided. It is enough to send receivables simply by e-mail, or you can send them by regural mail alternatively of course. Please send us a scanned copy of the document related to the case together with the transfer protocol. You may transmit your claims to us whenever you see fit, once a week or once per quarter, time frequency is not really important for us.
When should I send my claim?
In the case of debt collection it can be said that time is money. We recommend that you use the services of collection companies immediately once you feel even a slight problem. We have the simple reasons for this, if someone owes you, then it is highly likely he has problems with cash flow - or financial problems of another kind. The debtor will pay, of course, the most important payments and less important payments (or payments where they feel less pressure) will postpone for later. Our job is to ensure that the debtor will pay you and before the problems become intractable and it will be too late. You may lose all your money. Time is in the case of debt collection the most important factor. So, we recommend our clients to stop procrastinate transfer of problematic claims and simply send them to us. Even 95% or 85% after deducting our commission from amount collected is better than 0% if you will wait too long.
How can I monitor the progress of collection after they are passed to you and how long does it take?
Any claims that you submit us are immediately processed and the confirmation of their acceptance is sent to you by regular mail. At periodic intervals (usually 1 month) you get information to your e-mail about the progress. If you want information beyond this interval, or anything related to the claim in question, send us an e-mail or call. Since we are working constantly with claims, it is not the rule in our company that a claim is processed for a year. We will be most likely successful in a few weeks up to three months. Once we conclude that our other steps do not make sense and will not lead to a successful collection, we will close the case and send you a report. We believe this is a better solution for you than to leave debt in our system and wait for its payment.
Should I use the services of lawyers and pursue a case or use Cash Recovery, s.r.o.?
Receiving the court decision does not guarantee a successful collection. Also, nobody can guarantee you that it will succeed at the court. The only certainty is that you that you have costs in advance. Attorney fees payment, legal fees payment and long delays and waiting, this is the everyday reality for which interferes entrepreneurs in the Czech Republic. Even if you have a court decision, you have to enforce payment of the debt, which costs you more time and money. Unfortunately, there are many legal resources achievable for debtors and if they are able to walk in this , what you get is nothing. Good collection companies, such as Cash Recovery Ltd. know that time is money and they give the best efforts immediately upon receipt of claims to get the result. Trust no one, to use a magic wand and arrange the payment of your debts. The systematic and diligent work with the claim is important.