{"id":69144,"date":"2017-07-24T12:06:11","date_gmt":"2017-07-24T10:06:11","guid":{"rendered":"https:\/\/tcm.be\/glossarium\/debt-recovery-company\/"},"modified":"2026-01-14T23:37:19","modified_gmt":"2026-01-14T22:37:19","slug":"debt-recovery-company","status":"publish","type":"glossarium","link":"https:\/\/tcm.be\/en\/glossarium-en\/debt-recovery-company\/","title":{"rendered":"Debt recovery company"},"content":{"rendered":"\n<p>A\u00a0<strong>debt recovery company<\/strong> \u00a0is an intermediary which assists a <a href=\"https:\/\/tcm.be\/en\/creditor-definition\/\">creditor<\/a> with the recovery of its debt from a\u00a0<a href=\"https:\/\/tcm.be\/en\/debtor-definition\/\">debtor<\/a>.<br><br>The main strength of a <strong>recovery company<\/strong> is its ability to manage problems\u00a0<strong>amicably<\/strong> , i.e. without resorting to the\u00a0<strong>courts<\/strong> . 99% of the <a href=\"https:\/\/tcm.be\/en\/debt\/\">debts<\/a> it deals with are settled outside court, which presents the dual advantage of being faster and cheaper.<br><br>A <strong>recovery company<\/strong> 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.<br><br>A debt <strong>recovery company<\/strong> uses all\u00a0<a href=\"https:\/\/tcm.be\/en\/tcm-essentials\/debt-collection-process\/\" target=\"_blank\" rel=\"noopener\">methods<\/a> \u00a0of communication (ordinary letter,\u00a0<a href=\"https:\/\/tcm.be\/en\/letter-of-demand-summons-default-notice\/\" target=\"_blank\" rel=\"noopener\">notice<\/a> \u00a0to pay, telephone, e-mail, text, etc.), together with\u00a0<a href=\"https:\/\/tcm.be\/en\/tcm-essentials\/meeting-debtors-place\/\">visits<\/a> \u00a0\u00a0to debtors\u2019 premises.<br><br>Debt recovery companies are generally remunerated via commission on\u00a0<strong>receipts generated<\/strong> . This prevents the client, i.e. the <strong>creditor<\/strong> , from having to pay for operations which have met with no real success.<\/p>\n\n\n\n<p>In Belgium, one must be listed to be allowed to perform <strong>consumer debt collection<\/strong>.&nbsp;The full list is&nbsp;<a title=\"Federal\" href=\"https:\/\/economie.fgov.be\/sites\/default\/files\/Files\/Publications\/files\/Liste-recouvreurs-de-dettes.pdf\" target=\"_blank\" rel=\"noopener\">downloadable here<\/a>.&nbsp;You can get additional information&nbsp;<a title=\"Federal\" href=\"https:\/\/economie.fgov.be\/fr\/themes\/services-financiers\/credit-la-consommation\/endettement\/recouvrement-de-dettes\/inscription-comme-recouvreur\" target=\"_blank\" rel=\"noopener\">hereon<\/a>. (French or Dutch only.)<\/p>\n\n\n\n<p>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\u00a0<a href=\"mailto:glossary@tcm.be\">glossary@tcm.be<\/a>.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-69144","glossarium","type-glossarium","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium\/69144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium"}],"about":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/types\/glossarium"}],"wp:attachment":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/media?parent=69144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}