One of the leading receivables management group, EOS Group analyzed several hundred-thousand unsecured claims, which were managed in 2017 in Hungary. Results show that Budapest is the only city, where cash payments pass 3% mark, every other county is below 1% in this payment method. The share of bank transfers increased from 37% to 42% last year, resulted in the decrease of post cheque payments (60% to 55%).
Regarding the prioritization of the different kind of debts, bank debts are the first, then telco debts, and at last other public services get paid. “Smartphones and internet access got so important and deeply embedded in the society that in several cases these services are most important to debtors than basic public services. This trend is clearly visible by the age group of 20-40 years” – says Marianna Agárdi, director of unsecured collection directorate at EOS Faktor Zrt.
It is important to mention, that the later the repayment starts the bigger the charges became.
In case of a 100 000 HUF bank debt, which has a yearly default interest of 10%, the following costs will appear after one year of latency:
+ 10 000,- default interest
+ 5 000,- the cost of the payment order
+ 5 000,- law cost of the payment order
+ 5 000,- the cost of bailiff
+ 4 000,- law cost of bailiff
+ 16 800,- bailiff commission
+ 8 500,- cost of on-site execution
Total: 154 300 HUF, which is 50% more than the original claim.
„It is our common interest to get the debts repaid as easy as possible – in an acceptable way for both parties. As we can say in the example mentioned, latency might be expensive, so we suggest to get in contact with the owner of the debt as soon as possible. A receivables management company has more flexibility in the field of making the payments possible – for example, has the opportunity to provide an installment based on the possibilities of the debtor” – emphasized Marianna Agárdi.