How To collect a Debt From Belgium
Debt Collection in Belgium
The UK is Belgium’s fourth-largest export market and both countries have an impressive trade history. It has been recorded that around $13.65 Billion in exports was done in 2020.
In the modern world of business, it has become increasingly popular for UK businesses to create relationships with companies in Belgium.
Despite the positive nature of international business growth, this can increase the potential for debts to occur.
Debt recovery in the United Kingdom can be a difficult task to complete at the best of times.
When a client owes your business money from overseas, this can make matters even worse.
Does your business have a client in Belgium that has failed to pay for goods or services?
If so, you need to take action and recover the money that is owed as soon as possible. Collecting a debt owed from Belgium can be a challenging situation.
Many businesses will have a dedicated credit control team that acts to chase up any late payments.
This involves making phone calls or sending emails to the clients to collect debts that are owed.
Smaller businesses may not have the internal resources and dedicated time needed to do this.
You may have already tried to carry out your own debt recovery methods which have failed to produce a result.
If this is the case, you may be wondering what the next step should be to recover a debt in Belgium.
At Federal Management, we provide the leading solution for international debt recovery in the UK. Our experts have the precise knowledge needed to successfully recover debts in Belgium.
Our local, national and international network of debt collectors allows us to perform the most effective debt collection in Belgium service possible.
Preventing The Need For Debt Collection in Belgium
Debt collection cases in Belgium can be avoided by preventative measures being taken by the business.
A popular way to do this is is by implementing payment terms into any work agreements.
This will make the client know of their obligations and when they are due to pay for the goods provided.
It is common for invoice payment to be made 30 days after the due date, or 60 days for larger businesses.
Although preventing the need for debt collection in Belgium is effective, some clients will just simply refuse to pay.
When this happens, it is important to know that there are specialist solutions available.
Federal Management is one such solution, and there are many benefits to using our international debt collections services.
Federal Management’s Debt Collection in Belgium Expertise
If you have a commercial debt that needs recovering in Belgium, you will benefit from using professional collection practices.
Since 2004, we have collected millions of pounds worth of international debts for our clients.
As a result of this, we have helped a large number of companies focus on beneficial tasks such as growing the business.
Devoting more time to the business will allow you to recoup any money that was lost as a result of the debt.
Another benefit of using debt collection agencies is that they have a proven history of recovering international debts.
There are a number of factors that one must take into consideration when recovering debts from overseas.
It is important to understand the various laws, language barriers, cultures and communication differences across the globe.
Legal and court actions are known to take longer overseas and it will help to have support from the experts.
Federal Management has specific experience of this and has built an in-depth knowledge of Belgium’s debt collection process.
Laws Related to Debt Collection in Belgium
Just like in the United Kingdom, each country will have a specific set of laws and regulations related to debt collection.
For example, the statute of limitation for debts in Belgium is different to those in the UK.
Belgium limitations are 10 years for contractual obligations and 5 years for non-contractual obligations.
In the United Kingdom, debts enter statute-barred status after 6 years of no acknowledgement.
The length of time may change depending on the circumstances and a court can make exceptions to this.
Having the knowledge of the above is unique and many businesses will not know this without help from a professional.
We can assist with, and have knowledge of, all aspects of the international debt collection process.
Debt Collection in Belgium – How We Can Assist
If you or your business are owed money by a delinquent debtor in Belgium, you need to take action immediately.
The best solution comes in the form of using a professional debt collection agency such as Federal Management.
We have a proven track record of successfully recovering debts in almost every country across the globe.
Some of the key benefits of using our debt collection in Belgium service is:
- A local, national and international network of debt collection experts.
- The industry-high average recovery rate of 90% on undisputed debts.
- Specialist overseas team of debt collection agents.
- Affordable, fixed fee international debt collection service.
- Specific experience of recovering debts in Belgium.
Being owed money in Belgium can be a stressful situation for any business and it is important that you choose an effective recovery service.
If your business needs debt collection in Belgium, speak to our friendly experts today.