Instalment and leasing receivables

We have high expertise in handling collection of instalment and leasing receivables, as well as repossession of objects. We have a network of agents at our disposal and they help us in locating missing debtors as well as objects under instalment and and leasing plans. The agents can represent the assigner in instalment settlements and arrange transport of the objects concerned.

We are using our own versatile instalment application for calculating the currently applicable instalment receivables according to the Consumer Protection Act or the Hire-Purchase Act.

We have applied for several preliminary rulings in different court instances on hire-purchase issues, and we can utilize these in handling assignments concerning instalment plan breaches.

All-risk insurance

The conditions of instalment plans state that the vehicle must carry valid all-risk insurance throughout the agreement period.

Absence of all-risk insurance for hire-purchased vehicles is an essential breach of agreement on the basis of which the credit grantor can request executive assistance by a distraint officer to repossess and settle the account on the hire-purchased object, even in the case of no overdue instalments. Executive assistance is available for instalment plans made by businesses and consumers.

We will demand the buyer to sign valid all-risk insurance for the vehicle. The buyer will be informed of the consequences of the absence of all-risk insurance.

Valid all-risk insurance significantly lowers the risk of loss for the credit grantor, as the object is the security for the instalment plan credit. A single case may cause the credit grantor considerable financial loss in case the hire-purchased vehicle has no all-risk insurance.