Who We Are?
The Association of the Collection Agencies in Bulgaria (ACABG) is the only professional non-profit organization that disseminates and promotes good practices in the debt collection industry in Bulgaria. Our aim is to raise the financial culture of the Bulgarian citizens, to inform the consumers about their rights and obligations in case of overdue payments, and to provide unambiguous answers to their questions regarding collection agencies. ACABG’s goal is to clearly distinguish between ethical, moral and legal standards for performing debt collection. In this context, we abide by strict criteria for joining of each member to the association in order to ensure that our members comply with the legal requirements and the good practices in accordance with the Code of Ethics (Ethical norms and rules that our members and employees are required to respect).
Five of the largest and well-established companies in the field of receivables management in Bulgaria founded ACABG in July 2011. Nowadays, ACABG covers 17 companies that hold over 80% of the country's debt management sector. With their experience, knowledge and market behaviour they have strengthened the important role of the Association as a leading factor in the collector’s business in Bulgaria.
Membership and collaboration
ACABG is a member of the Federation of European National Collection Associations (FENCA) since 2012. FENCA is the institution representing the interests of the European debt management industry since 1993. Its members represent over 75% of debt collection agencies and hold 80% market share in the EU, with over 100,000 employees serving more than 5 million customers. In Europe, the debt collection and management sector annually returns back to the economy between EUR 44 and EUR 55 billion.
As of 2015, ACABG is a member of the Confederation of Employers and Industrialists in Bulgaria (KRIB). The Association is active in the implementation of the Confederation's mission, and in particular - in improving the business climate in the country and increasing the competitiveness of the Bulgarian economy.
Why is important to choose ACABG member?
You have already decided to hire a collection agency?! Make your own study to find out what distinguishes the good from the bad practices in the field. The agency you choose will need to be experienced, to adhere to international best practices and to know well your business.
Collection agencies’ work usually deals with a very sensitive area of the relationship between creditors and their clients. This necessitates the compliance with strict rules for operating in order to safeguard the interests of all parties and above all their good reputation. Before making your choice, request references from some current customers of your potential partner and check if the company is a member of the ACABG. We have developed a Code of Ethics that is in line with international best practices and all members of the association comply with the norms set out in the Code.
ACABG is designed to work both for the consumers and the business circles. Our long-term goal is to raise the financial culture of the Bulgarian citizens, and to provide information about the current levels of indebtedness in the country and the respective consequences. It is our duty to work on the development of a legal framework - handling the issues of collection management and consumer indebtedness, which shall ensure a fair settlement of the relationships between creditors and their clients. We strive to increase the transparency of the collectors’ services as well as to be proactive in the exchange of experience with international organizations.
Our mission – “MISSION PAID”
It is no secret to anyone that the level of financial culture of Bulgarians is not very high. A good solution would be to include specialized classes in finance in secondary and high school. For early financial literacy, we started visiting schools in all parts of the country, talking about financial discipline, budget, risks, trust, faith and freedom. It is a complicated and not very fast process even though rewarding. The knowledge how to manage your personal finance and how to choose wisely between all financial product is vital to a prosperous life.
The necessity of raising the financial culture, has motivated ACABG to start work towards prevention, creating the "MISSION PAID" initiative in 2017. The campaign aims, in a simple way to tell about debt management and more important, to provide guidance on debt prevention.
Debtors Handbook was created, which can be downloaded for free from the Association's website, https://acabg.bg/mission-paid. It contains the basics everyone needs to know about the management of their financial obligations and the relationship with the institutions in relation to them.
tel: +359 2 976 0875