The collection services market under economic crisis shows growth

// 20.01.2009

Experts of «Information Agency «CredInform North-West» having studied in detail a state and economic analyst opinions of various level, come to conclusion that appeared rapid crediting growth last years, and also an economic crisis in Russia in the second half of 2008 have led to active growth of collection services market.

In the end 2008, according to the Central Bank, the delayed debts under credits have grown on 9,6 bln roubles (to 143,5 bln rbl.). According to expert estimations the delay volume is considerably above previous and it has already crossed the threshold in 200 billion rbl. At the present time it is observed really considerable changes in past-due loan collection market. So only in last months banks have transferred bad debts portfolios to the largest agencies for estimation in three times more than in previous month.

Thus, obviously the demand for collection services will only increase next months. Now, according to experts, 45% of debtors stop to pay because they have not enough money; 27% declare they seemed harder to pay one’s credit than they thought; and 15% invoke the execution complexity of one’s regular payments terms.

Basic tendency of the Russian collection market is a high trend of development and transformation to serious intellectual and hi-tech business with their quality standards and companies-leaders appearance valuing one’s name and reputation. Also one of market tendencies was emergence of anti-collection agencies that protect debtors using existing blanks in the legislation.

Some of experts hold the pessimistic opinion. The reason is that the consumer crediting suffers considerable recession as population incomes decrease, in addition people do not know simply that will happen with their financial position in two-three months, also mass discharges are made at enterprises. And even those people who have means that of do not wish to spend money for credit payment, on the contrary they prefer to keep them for purchase of first-necessity items. As for people who are debtors of bank, in 2009 they can fall without means of living that will result of problematical credit pay back from that of. Banks are ready to give loans much rarely as they suffer lack of money and more carefully check borrowers. It can result that in the second half of 2009 a part of collection agencies, especially who worked with physical persons would face the problems and can lose the market.