General Factoring to recover Sk70 billion claims of national social insurer

DEBT RECOVERY firm General Factoring has won a tender for the collection of claims totalling Sk70 billion (€1.9 billion) owed to Slovakia's social insurance provider, Sociálna Poisťovňa (SP).

General Factoring's commission will be 6.55 percent of the volume of the recovered claims. SP registers 246,000 debtors.

General Factoring won a tender over three competitors. Some bidders had demanded a commission of as much as 10 percent, SP informed the SITA news agency.

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