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Debt collection: a brigade in the making in Cameroon to track down debtors and their assets

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(Business in Cameroon) – The Cameroon Debt Collection Company (SRC), headed by Marie Rose Messi (photo), presented its powers on May 25 in Yaoundé, reinforced by presidential decrees of January 9, 2020. According to these decrees, the SRC is now classified as a public capital company of a financial nature, with the State of Cameroon as its sole shareholder.

To carry out its missions to the full, we learn, the SRC plans to equip itself with a mobile brigade to track down debtors and their assets. It is a mixed work unit made up of officials from law enforcement (police and gendarmerie) and several other administrations (financial authorities: tax/treasury/customs, land registry, land affairs, etc.).

In detail, this brigade has the following missions: research, location and identification of debtors and their assets; the centralization and storage of information relating to the assets, property or financial flows of debtors; the service and notification of deeds, exhibits and documents within the framework of the collection missions of the SRC, without prejudice to the powers devolved to bailiffs and enforcement agents in the matter; the execution of acts of requisition; assistance in recovery operations, taking possession and management of property, seizures and sales of confiscated property carried out by the SRC.

If necessary, the SRC will be able to open and effectively conduct patrimonial-type investigations to achieve the recovery of the debts entrusted to it and as such draw up reports, convene and collect the hearing on the minutes of any person holding information on the financial situation, the location of debtors’ assets or their domicile. This mission was dedicated to a work unit within the SRC, called the Mobile Brigade“, explained the DG.

It specifies that actions such as the seizure of accounts and the affixing of seals are now part of the range of instruments that the SRC can use to compel recalcitrant debtors to perform. Furthermore, the recovery procedure by means of coercion continues its course, notwithstanding the disputes which do not suspend its execution, enshrining the notion of the privilege of the prior attached to the decisions of the State.

The company explains that the extension of its prerogatives had become necessary, because certain debtors succeeded in concealing their assets in order not to pay their debts. From now on, the deal could change, especially since the state-owned company has seen its activities extend to collections for the benefit of microfinance institutions. The latter will now be able to benefit from the SRC’s expertise in the recovery of compromised debts. Also, the recovery by the SRC of debts resulting from pecuniary judgments for the benefit of the State is authorized both on national territory and abroad, and this in liaison with the Ministry in charge of Justice.

Sylvain Andzongo

Read also:

16-11-2021-After the suspension of the Atou cabinet, Cameroon entrusts the management of the assets of three former state companies to the SRC

16-09-2021-Real estate: the Cameroon Debt Collection Company opposes the sale of a building in Yaoundé

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