Kruk S.A.

Adevarul, 27.03.2012

Out of 10 persons incurring debts, 8 are saying that they are in financial difficulty due to reasons beyond their will.
„We tried to find out what are the attitudes of the persons who, due to various reasons, are registering excessive debts and we found out that, for the majority of persons  this event is like an accident of life, as they did not want to get into such a situation and would like to solve it as soon as possible.  We do believe that they are the very same persons as they were before or after they passed through such a situation and we are treating them in the manner in which we would like to be treated ourselves",  stated  yesterday , in the opening of the conference, Iwona Slomska, member of the Board of KRUK Group , company specialized in debt collection.
How did they get so indebted
The issue of debts worries many Romanians, over half of them say that if they  accumulated debts they would do everything possible to pay t hem as soon as possible. 78% of the Romanians think that the persons most affected by the debt issue are those facing a difficult financial situation, generated by the loss of job, reduction of salary, illness, accidents or unforeseen events, according to a study on debts conducted by the research company TNS-CSOP and commissioned by KRUK International.
According to the study, the payment of utilities, bank credits and mortgage installments are the main reasons for which the Romanians end up being overwhelmed by debts. (...)

Ionela Săvescu, Evenimentul Zilei, 17.03.2012

Little over  30% of the high school students in Romania save their pocket money they get from their parents. The rest spend it on  "sandwich",  gadgets, softs and  going out with friends.
KRUK International  intends to implement a project addressed to high school students. The program is developed together with the ONG association  "Şcoala de Valori", and high school students from many cities in the country will be taught how to save money.  Firstly, a study was conducted according to which 33,31% of the high school pupils are saving their pocket money. Those who spend  it all on going out with  friends (27,15%),one gadgets, IT equipment, softs and electronics (8,83%) s or on others (30,42%). The questionnaire was answered by the parents who have teenage children, and showed the habits of the adults of offering money to their childreni.
By means of the program conducted by KRUK,  the high school students in the  IXth grade from  14 citiesin Romania (Arad, Braşov, Bucureşti, Cluj-Napoca, Constanţa, Craiova, Iaşi, Oradea, Piteşti, Ploieşti, Sibiu, Suceava, Târgu Mureş şi Timişoara) will learn how to manage their pocket money. (...)

Mihaela Dincă, Adevărul, 18.11.2011

“The typical debtor has a paradoxical behavior: on one hand he is pressed by the debt incurred and on the other hand, he is reluctant when contacted by the receivables management company” said Mircea Kivu sociologist.
According to an online survey conducted by iVOx and commissioned by the receivables collection company KRUK, 34,1% of the respondents say they usually borrow money in order to cover the monthly expenses. Another important reason is that of covering other debts (18%).  Among them, 40,3% borrow money  three-four times a year, while 31,3%, monthly. Thus, 42,4% of the Romanians prefer to borrow from their family when faced with a dire financial situation, while 28,6%, prefer close friends. (...)
 

D.M. & A.I., Evenimentul, 20.10.2011

The specialists in receivables collection are saying that, usually, the residents from Moldova are very open in trying to solve their debts and most of them wish to conclude amicable arrangements. „The population from Moldova region manifest a positive attitude in repaying the debts accumulated, thus the 3.219 arrangements of payment in installments signed last year. As for the persons with debts who have not yet signed a payment arrangement, they motivate that they are being affected by the loss of jobs, the reduction of salary or by the occurrence of an unpleasant event in their life”, said Cosmina Marinescu (...)

Claudia Candet, Ziua de Constanța, 11.10.2011

Isabela Iacob, Director of KRUK International  present yesterday in Constanta together with the communication team, during a session with the local media, spoke about the manner in which the clients, most often well intended debtors, can repay a credit contracted which they can no longer repay, with the assistance of this company specialized in the complex management of the receivables generated by various types of credits. Yesterday’s meeting was the second such meeting part of the „Datoria mea” educational platform, which the company initiated two weeks ago and which will be promoted throughout all regions of the country until the end of November. „We are well aware of the problems faced by our clients. Over 90% of the clients who have debts are well intended persons who wish to find a solution for the repayment of their debts. In our company we have come to the conlcusion that the paymnent of debts in installments is the most convenient solution. We are not charging any commission, we offer a discount to the interest rate, thus the client pays a smaller amount as compared to the installment he should have initially paid on a monthly basis. What is important is the fact that each client can decide together with our representative the installment he can cover, according to the current financial situation”, said the company’s director. (...)

Ciprian Botea, Ziarul Financiar, 10.10.2011

"We are confident that the persons with debts are well-intended, but they could be facing a financial problem. We are signing payment arrangements which should take into consideration the current income of the debtor and we establish a monthly installment which should take into consideration this income. The arrangements can spread for a couple of years." said Isabela Iacob, Managing Director of KRUK International. (...)
KRUK managed and purchased last year receivables worth about RON 2 billion, which means it holds a market share of about 30%. (...)

Adevarul, 6.10.2011

„According to a study conducted by the  receivables collection company KRUK International  on its own portfolio,  men represent the largest number of debtors (61%) , and they also register debts with higher values than those registered by women. The average age of the debtors with active receivables is 40.9 years, according to the same analysis. The company analyzed the profile of the persons with debts taking into consideration their birth sign. Thus, the Aquarius, Balance and Capricorn natives have a more responsible payment attitude, as compared to the Geminin, Sagitarius and Cancer natives”.

Monitorul de Cluj, 30.09.2011

„Our role is that of offering support to our clients and ensure them that they have the possibility to continue payments as per the debt payment arrangements signed. KRUK specialists ast more as financial consultants and offer the persons with debts the best solutions, tailored to their current financial capacity”, said Isabela Iacob, Director General of KRUK International. The first such campaign ever launched in Romania is part of the eductaional platform „My Debt”and will be unfolded over the next three months. (...)

Ovidiu Poșircă, The business review, 26.09.2011

The firm announced last week the launch of an educational campaign, called “Datoria mea” (My Debt), aimed at improving Romanians’debt awareness and behavior, including in re4lation to creditor and debt collection agencies. (...)
Isabela Iacob, managing director of KRUK International, said that the outcome of the new campaign should see a large number of debt cases paid off entirely. Iacob added that 24,000 arrangements were signed with debtors on purchased portfolios between July 2010 and June 2011. The average repayment installment stood at RON 313 for periods ranging from two to three years. (...)

Click, 26.09.2011

“Most often people are hiding and trying to escape from the problem, as they are afraid and do not know what to do. Our role is to offer them support and reassure them that they have the possibility to continue payments according to the payment arrangements signed. KRUK specialists are rather financial negotiators and are offering the persons with debts the best solutions for the payment of their debts in convenient installments, as per their current financial situation:, declared Isabela Iacob, Director General of KRUK International. (...)

Făclia de Cluj, 22.09.2011

“Most of the persons with debts are cutting down their non-essential expenditures, and once they register a late payment, their attitude is most often affected, as they are ashamed. What matters is that almost everyone  is willing to pay its debts”., mentioned Mircea Kivu, sociologist , who interpreted the results of the research study. (...)

Șerban Bușcu, Evenimentul Zilei, 21.09.2011

The debt recovery companies have accepted credits worth billion RON from the banks and are open to negotiatons with the persons holding the debts.

The banks sold last year receivables worth over 2 billion RON, according to Isabela Iacob, General Manager of  KRUK International. The transfer of the debtors’ case from the bank to the receivables collection company is not necessarily a bad thing for the person with debts, mainly due to the fact that the companies are more and more prone to negotiations.  The receivables collection companies have developed a system  that enables them to offer customized solutions to each person with debts.  “we encourage the debtors to contact us. We have initiated a communication campaign which focuses on the idea of partnership.  There is a solution for everyone. We are offering our clients the possibility to pay their debts in installments.  In some cases, there is even a reduction of the interest rate depending on the debtors’ financial status”, explained Isabela Iacob. (...)

Bursa, 21.09.2011

 “90% of the persons with debts are willing to pay their debts, which is a very important aspect, and if the debt collection company develops a special relation with them, we have a win-win situation”, said Isabela Iacob , Director of KRUK Internatrional Romania.(...)

Șerban Popescu, România Liberă, 21.09.2011

Clients with long past due date receivables, with small value and without strong collateral are most likely to be externalized from the banks’portfolio to the receivables collection companies. (...) 

Better with  the receivables collection companies than with the banks
KRUK International launched a communication campaign  aimed at encouraging the debtors to try and negotiate a formula to be able to pay their debts.  Accorrding to the representatives of the Polish company, a similar campaign was implemented in Poland and its outcome translated into a substantial improvement of the recovery rate. In fact, the company offers to its clients the possibility to pay its debts in installments, and the installments are smaller than the ones which one would have to pay to the bank. (...)

Mihaela Dincă, Adevarul, 21.09.2011

The debt collection companies are  trying  to offer alternatives to the debtors so as to find a solution for the payment in installments of their debts and in due time. “In most cases, the debtors had difficulties in finding a solution to their problem. “said Isabela  Iacob, General Director of KRUK International, company that accepted for collection last year receivables worth over 2 billion RON. The company initiated a campaign aimed at changing the perception about the receivables collection industry. (...)

Viviani Mirică Bursa 30.03.2009

The number of debt recovery cases increased with more than 100% in the first 2 months of the year compared with the similar period of 2008, according to Isabela Iacob, Managing Director of the debt recovery company KRUK Romania. (...)

Andreea Araboaei, Bursa, 12.12.2008

The companies specialized in recovering receivables have different opinions regarding the developments of the industry, even if this industry was less affected by the economic difficulties. (...)

Roxana Pricop, Ziarul Financiar, 11.12.2008

Kruk International, local subsidiary of Polish debt collection group Kruk, recovered over 44 million RON (nearly 12 million euros) in its first year in business in Romania, with the value of contracts handled amounting to 300 million RON (around 80 million euros). (...)

"Romania has a big potential as far as debt collection companies are concerned. Although many important debt collection companies were already present on the Romanian market when we opened our local subsidiary, the economy's growth rate and the flow of new credits indicates that debt collection is a growing industry in Romania," Piotr Krupa, chairman of the Krup group, told ZF. (...)

Justina Zah Bursa 9.12.2008