Collecting bad loans

A German Company from Hamburg, known for the management of bad loans, notified that by March 1st they have officially started the operations in Albania. In the web page of the company, which is present in 27 countries of the world, says that the decision for entering Albania was taken after the many requests by the international clients who operate in our country and have due payments.

“EOS” says that its activity consists in recovering bad debts on the clients’ account, which could be banks or other private companies. According to their leaders, the Albanian debt market is similar with the other countries in the region.

The Albanian economy has been facing a strong increase of bad debts in the last three years. Compared with 2008, the unpaid loans in Banks have increased with 5 times: from 3.92% of the total, in 19%.  But the bad debt market is not limited only with the banks.

It has now been expanded in other sectors of the economy, such as energy and construction, where private and public companies have created a complicated chain of debts. Only a few months ago, the government, the Energy Corporation and CEZ were involved in a triple debt conflict. KESH reported that CEZ doesn’t pay more than 60 million EUR in obligations, while the Czech Company, on the other hand, accepted to pay with the condition for the government to pay the debt it owes to them.

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