Debt Collection Nigeria

A Trusted Recovery Solution in Nigeria

Collecting a debt in Nigeria can seem impossible. Language and cultural barriers, foreign laws and customs, and sheer distance all impose serious challenges.

Debt recovery is simpler when you use a collection agency fluent in the laws and customs of the country where the debtor resides. Cedar Financial offers on-the-ground representatives in Nigeria who understand the debt collection practices that work to support full recovery of your funds.

Since 1991, Cedar Financial has served as a trustworthy, nationally licensed debt collection agency, helping businesses collect unpaid accounts internationally. With knowledge of collecting debts in a wide range of different industries, our experienced team collects your debts quickly and effectively so you can receive the payments you're owed.

With offices in over 150 countries, including Nigeria, working with Cedar Financial provides you access to a global network of nationally licensed debt collectors. Our in-depth understanding of local laws, customs and cultures guarantees the best possible debt mediation results.

Comprehensive, People-First Help

At Cedar Financial, we put people first, doing everything we can to get your money back while still preserving a good relationship with your customer. Our strategic public relations efforts are fair, nut firm-ensuring your reputation is our top priority!

We combine a people-oriented approach with the latest tech-driven solutions to drive results and provide better contact management. This comprehensive method gets the results you need while preserving customer relationships.

In addition, our network of debt collectors, attorneys, suppliers and vendors are cherished relationships that allows us to get the job done. We value each of these relationships, no matter how small or large.

Contact us today and learn what we can do for your business.

Frequently asked questions for Nigeria

The most important reason is that we significantly increase the chances of recovering the debt because as soon as the debtor understands that there is a local collector on hand, the game changes. We know the debtors, we can pay site visits and meet with them face to face. Because of our knowledge of the local terrain we can advise on the fastest most effective way to recover the debt. For debtors who are willing to pay but have local logistical challenges, we can solve those challenges. We are also a law firm and if necessary we can litigate in the local courts to ensure debt recovery.

We take most of our cases which do not require litigation on a no recovery fee, no fee basis.

We do not have a minimum number of accounts which we can accept but we would prefer amounts above $1000 in the minimum.

Commercial debts, student debts, foreign judgments etc.

If the debtor begins paying, then we try to keep him within a pre agreed schedule. On the average, if a debtor has not paid within six months he is not likely to pay without court action.

The first step is to locate the debtor at an address. A letter of demand or phone call is then made. We can then follow up with a site visits and further letters. All these are geared towards reminding the debtor of the ultimate consequence of not paying the debt.

Documentation is necessary especially if the debtor denies the debt. It also helps us to understand the nature of the debt which helps in our dialogue with the debtor.

It is legal to add costs of collection in Nigeria, but because there is no credit reporting, most debtors get away with just paying the principal. Interests and costs are only paid if awarded by the court.