Urban: Debt recovery market will to by 50 percent in 2008

"The amount of work is permanently increasing on this market. It is normal that, in a transition economy or a crisis one, debt collecting companies thrive," said the President of Urban&Asociatii, Iulian Urban. He added that debt lease has increased in Romania and will continue to grow, because it is a very profitable business. 

Some six large players and over 40 small and medium companies are operating on local debt management market, while Poland has some 600 such companies, according to the General Manager of EOS KSI Romania, Georg Kovacs. 

According to Urban, the major problem is a lack of good lawyers for debt collecting. His company estimates turnover of some €15 mln in 2008. 

The main players on debt management market are EOS KSI, Urban&Asociatii, Coface, Cycle and Delos Creditinfo.