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FAQ

For Individuals with Financial Obligations
Is there a difference between an assigned and a delegated obligation? / What does an assigned obligation mean? What does a delegated obligation mean?

There is a substantial difference between the terms “assigned” and “delegated” obligation.

An assignment is an agreement for the purchase of a receivable from the creditor (assignor) by a third party (assignee). The assigned obligation is transferred to the assignee together with all privileges, collateral and other appurtenances, i.e. the assignee assumes all functions of the creditor.

In this case, we call you to inform you of the changes that have occurred, as well as to assist you in finding the best solution for your situation together.

A delegated obligation is a loan transferred to a partner company of the creditor for the purpose of providing assistance in communicating with customers and advising them regarding their overdue obligations and their servicing. In this case, the creditor does not change.

In this situation, our main task is to inform you of a specific obligation to your current creditor, as well as of the options for repaying it. We contact you by phone or through written correspondence, advising you on the situation and helping you achieve the best repayment terms.

What is expected of me after I receive a Notice of Assignment?

If you receive a letter from Most Finance, your debt has either been assigned to us for collection or has been purchased by Most Finance. Please read the letter you have received carefully and follow the instructions in it. You may make a payment of the amount stated in the letter, or, if you have any questions, contact us at the contact phone numbers provided.

What does “Legal collection” mean?
In the absence of voluntary repayment and in cases where out-of-court collection proves impossible, the creditor has the option to initiate legal proceedings. Through enforcement proceedings, the creditor may satisfy its claims against the debtor. In this case, the obligated person will owe additional amounts representing state fees, costs, and attorney’s fees. All these expenses are subject to recovery from the debtor at a later stage and may significantly exceed the amount owed by the customer on a voluntary basis. In addition to the substantial increase of the debt, the consequences of legal collection may also include the imposition of garnishments on bank accounts and employment remuneration, as well as a lien on real estate.
What is the difference between a Certificate of Repaid Debt and a Reference?

A Certificate of Repaid Debt (CRD) is an official document certifying that your obligation has been fully repaid and that there is no outstanding debt to the creditor that issued the document.

A Debt Reference is an official document containing information about the current amount of your obligation as of a specific date.

How can I obtain a CRD?

After full repayment of your loan, a CRD may be issued to you. We can provide it to you electronically or in hard copy, depending on your preferences.

For its issuance, you must pay an administrative fee of BGN 30.00. The timeframe for issuing a CRD is 7 business days from payment of the fee.

How can I obtain a Debt Reference?

To have a Debt Reference issued, you need to contact us by phone at 02 / 960 0 123 or by e-mail at office [at] mostfinance.eu.