Integration with Economic Information Offices

In Poland, three major economic information offices operate: the National Debt Register, BIG InfoMonitor, and ERIF. Companies can register their debtors with them. When a non-compliant contractor is entered there, they can face a whole host of problems. Banks may refuse them credit, loan companies may deny them loans, landlords may not rent apartments to them, and telecom operators may not sign mobile phone contracts with them.

Therefore, we decided to implement this powerful tool into Ultima RATIO as part of our debt collection procedures.

How does it work?

So far, our "soft" debt collection procedures allowed companies to summon their debtors to pay on our platform. This was the beginning of the "pre-trial" stage of the collection process. If an agreement was not reached during this time, companies could escalate disputes and obtain quick arbitration judgments. These judgments were (and are) the basis for enforcement.

What changes with the integration with the BIGs in this process?

Companies can now additionally threaten debtors in payment requests that if payments are not made, their data will be reported to the BIGs. After 30 days, if the invoices are still unpaid, companies can make such a entry. The whole procedure is independent of arbitration, and entries occur immediately to the National Debt Register, BIG InfoMonitor, and ERiF. Everything occurs within the profiles of the cases. Companies can manage entries that have already been made. They can add new obligations or delete information about invoices that have already been paid.

Civilized Rules for Entries to BIG

We have also decided to introduce certain rules for entries made on our platform. Today, companies can register anyone with the BIG. If debtors feel wronged by the entry, they can file objections with the BIGs. However, there are many complaints, and resolving them takes 30 to 60 days. Moreover, the law states that following complaints, the BIGs must verify whether the registered obligations are justified or not (!!!). Meanwhile, even first-year law students instinctively feel that this should be the competence of the courts! Especially since the law does not require BIGs to have professional lawyers verify complaints.

We believe that these standards are far from perfect. 

Whether a particular obligation exists or not should be decided by a court or arbitrator, not by an employee of an economic information office. Therefore, at Ultima RATIO, the entries of obligations to BIG have undergone arbitration control.

What kind of control will it be?

If a company working with us registers an obligation with a BIG, and the debtor submits a response to the lawsuit, then the arbitrator will analyze whether the case has matured to the point that an entry could be made at all. In cases that are clearly disputed, and there is no suspicion that they are being deliberately prolonged, the arbitrators will immediately require companies to temporary delete entries. They will not wait for a judgment to be issued. However, if judgments are made in the matters, arbitrators will require creditors to delete entries to the extent that the claims have been dismissed. We believe in more civilized rules.

If you have questions, write!

Team Ultima RATIO.