What is debt collection?

It is the professional management of recovery of unpaid debts by using friendly or judicial siste.

Is the delinquency a problem for my company?

For many companies, late payments are the main problema and not only in the current economic situation, because if we limit on this, it seems that there is not a problem.

How can I control the company's recovery management of a third party?

Recovery management will always be transparent and your company can monitor it constantly setting operational guidelines and accurate information.

Regarding the information provided to the recovery agency, What guarantees of confidentiality I have?

The maximum ones. The agency is absolutely committed to keep always the strictest confidentiality and to meet the provisions of the Organic Law on Data Protection (LOPD).

If outsourcing the management of the unpaid debt,can I lose my client?

Each management is fully customized and always trying to save the business relationship. A default, in most cases, is temporary. Moreover, the image of your company will be strengthened as more professional management of unpaid debts you set up.

The outsourcing of unpaid debts management, is it too expensive?

In most cases the company will pay only a percentage of the payment collected.

How can I avoid the late payment of my clients?

In many cases recovery agencies may collaborate with your company in order to the establishment of a preventive policy about debt collection management.

Ethic sector values and public image

We are hardly working in order to have a national industry regulation just because Spain is the only European country not regulated at the moment. A legal framework that protects the debtor, his dignity as a person and defend their privacy. A regulation that sets the non-legal activities, or low ethical profile of the activity governed by a strict ethical code carried out by our partners.
This “legal vacuum” has led to developed an internal ethical code that marks the way forward. ANGECO actually represents the only spanish organization that provides a seal of approval because all the member companies comply with a strict ethical code of practice in the debt recovery activity in Spain.
We are working to make the public aware of our role as mediators with a clear objective, to find a satisfactory solution between the involved parts.

Sector working conditions

The members of ANGECO provide direct job for more than 9,500 people.
We continuosly training our professionals, both at their incorporation and activities development time in order to update knowledge, technological and/or regulatory changes.
Our ethical code, the customers audits and the current existing labor law marks a policy we always respect with our professional human resources.

Interest rates on late payments and additional expenses

Members of ANGECO strictly comply with current law. We do not mark the default interest or any other charges, we just follow the terms of contracts between debtors and creditors, our customers.
In many cases and in order to achieve a satisfactory agreement between debtor and creditor , we try to provide alternative solutions to avoid or to decrease additional amounts.

Our position on eviction

From the maximum respect to the debtor we know we are rigorously bounded by law. This does not prevent us to be conscious about some dramatic situations.
Our goal is to try to provide all the solutions that we might occur, negotiating with the debtor and the creditor to reach an agreement and avoid an unwanted situation by either.
In this process, we inform investors about extreme sensivity situations looking for understanding and seek alternative solutions.

Harassing phone calls and abusive practices

Our role is to mediate between the debtor and the person/company with which the debt is incurred. We work to find the best deal, the best solution for both of them. To develop this mediation efforts we need to contact the debtor in order to initiate a negotiation that would not be posible otherwise.
We are aware that at times technology has failed and when absence of contact or answer the number of phone calls in one day has been increased. ANGECO member companies are investing resources in new technology in order to avoid this situation.
These practices are also rejected by our customers that require professional and ethical companies who meet their scoring restrictive rules in order to eliminate any abusive telephone practice. Moreover, they themselves perform audits to prevent these kind of incidents.

Black list and default files.

Called black list is a list of delinquent unpaid in which appear personal data about debtors who get a real debt, due and previously claimed by the creditor.
The list are totally transparent in our country, especially when the debtor seeks information about himself.
Members of ANGECO believe that these files better should have positive character, “good payers” instead of “bad payers”, as usual in the Anglo-Saxon industry.
The existence of these records reduces the risk of creditors, and is a guarantee for those who pay their debts to obtain financing at a lower cost.
Without this information, the risk of creditors in giving a loan would be objectively higher and consequently would raise interest and fees on all loans.

The recovery is associated with trouble activity situations. How this affects us as professionals?

To collect a debt from someone who unpaid it´s obviously our main goal. The question is how to manage this. All members of ANGECO work in a professional manner and following a strict code of ethics. Our role is to mediate between the debtor and the people or company with which the debt is incurred. We work to find the best deal, the best solution for both of them.
All companies that belong to ANGECO operates by a strict ethical code that requires to treat the debtor always respecting their dignity and privacy. In addition we agree with our customers quality management standards and fixing performing audits which guarantee a professional ethics way.
Our members invest significant resources and also constantly training their professionals to get that maximum respect for the debtor.

Investmentl funds and our relationship with them

What some called “opportunist funds” are nothing more than investment funds, distressed funds or “special situations funds”. They operate in debt markets for a long time. A debt is also a financial product that can be bought or sold, and could become a form of business.
Many of the companies inside ANGECO, like many other companies in Spain and around the world, work with these funds as they do with other customers aswell.
The large size of these funds and their experience in debt markets, enable them to be more flexible in order to find solutions with the debtor, because the goal of both is to settle the debt. Because that there have been deferred payment plans, deduction debt plans, etc.
It is also a fact that these funds help the credit flowing. Because they buy debt to banks and so they improve their ratios and continue to give credit to companies and individuals, which is essential for the system to work.


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