Debt recovery company

debt recovery company is an intermediary which assists a creditor with the recovery of its debt from a debtor.

The main strength of a recovery company is its ability to manage problems amicably, i.e. without resorting to the courts. 99% of the debts it deals with are settled outside court, which presents the dual advantage of being faster and cheaper.

A recovery company is first and foremost a communication company, staffed by individuals who specialise in solving problems. Once agreement has been reached, it then must be particularly well organised to follow up all pledges, payments, etc. So essentially, it deploys a very healthy dose of psychology and positive energy, reinforced by cutting-edge technology.

A debt recovery company uses all methods of communication (ordinary letter, notice to pay, telephone, e-mail, text, etc.), together with visits  to debtors’ premises.

Debt recovery companies are generally remunerated via commission on receipts generated. This prevents the client, i.e. the creditor, from having to pay for operations which have met with no real success.

In Belgium, one must be listed to be allowed to perform consumer debt collection. The full list is downloadable here. You can get additional information hereon. (French or Dutch only.)

Updated 24/07/2017

Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at