Debt Collection Mali

A Trusted Recovery Solution in Mali

Collecting a debt in Mali 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 Mali 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 Mali, 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, but 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 Mali

We have experience across the region, as well as a local network that we tap into to help us leverage our position. Upon receiving an account, our senior management meets to review the case details and outline possible debt collection approaches. Upon agreement, we enter negotiations quickly to pursue a speedy resolution. We focus on a professional, respectful approach while remaining firm with our position on our client’s behalf.

For our traditional debt collection services, we work on a “no collection, no fee” basis. However, should litigation become necessary, we advise our client on the recommended course of action and provide an estimate of projected legal costs. Site visits, which can be conducted to help ascertain the financial state of your debtor, are also additional. Costs of a visit, which include pictures as well as a written report, vary according to the location of the debtor and the difficulty of the process, but usually run a few hundred dollars.

There is no minimum number of accounts. However, for a single claim, the minimum amount is $5,000. For a portfolio of accounts, each individual claim should be at least $500.

We service both commercial and consumer debt in a wide range of industries, from manufacturing to agriculture and trade. For consumer debt, the balance should be at least $5,000 and dating from within the last two years.

The timeline for amicable debt collection varies considerably depending on the circumstances of the individual case. We have seen successful resolutions within two weeks, while more complex claims can take six months to resolve. In every situation, we push for the fastest possible resolution to your claim.

As Africa is still a growing market, we face many challenges locally. For example, there is no formal credit reporting, so we frequently must convince the debtor why it is in their best interest to resolve the matter. Once the demand has been sent, we try to set up a face-to-face meeting where we can discuss the issues at hand and work on finding common ground. We will never suggest litigation if we feel it will not be productive.

Generally speaking, the statute of limitation is four years. However, in the commercial sector of this region, it is often hard to locate debtors after two years of inactivity.

Yes, depending on the size of the balance. In general, the field agent is required to take pictures of the address of the debtor and general surroundings to better assess their financial strength. If the agent meets and discusses the account with the debtor, they must also submit a picture of the debtor, as well as proof of the meeting. A full report will also be provided.

Yes, we require documentation validating the debt. While we do not require every piece of correspondence regarding your debt, it is helpful to gather as much information as you can to assist our efforts.

Yes, we can litigate in any of the Franco countries. There will be some upfront costs associated with travel, translation, and court costs, but we will provide estimates on a case-by-case basis before proceeding. We don’t rush to litigate, but have often found that initiating proceedings has motivated debtors to reopen negotiations for non-legal debt settlement.

In general, no. In legal proceedings, the court may rule that all costs associated with litigation are to be repaid by the debtor.