Debt Collection in China
Debt Collection in China
China is one of the UK’s biggest trading partners. In 2020 alone, the UK exported $18.51 billion worth of goods and services. This has benefitted both countries, and the two nations have a good training relationship.
The amount of successful trade that goes on between the two nations is huge. With this in mind, there will always be the potential for debt to occur. Many UK companies are often left in a challenging position when a client from China withholds payment.
There is a growing need for a good debt recovery service to recover money from non-payers in China. Whilst this may sound like a particularly difficult task, there are in fact several solutions.
For example, finding a specialist international debt collection agency is commonly known as the best option. Federal Management is one such agency and has helped recover debts in China since our opening back in 2004.
Our expert international debt collection processes put us at the forefront of recovering money from overseas. If you need help with debt collection in China, we provide the best solution.
Recovering Debt From China
For many businesses, the prospect of recovering a debt from a client in China may seem to be a great challenge. Most normal UK businesses have few options when they are acting alone. Without knowledge of Chinese law or any way of enforcing the debt, the likelihood of recovery is low.
With apparently few places to turn, many companies opt to take legal action against their debtors. However, this is often a very expensive decision, with law firms charging huge amounts for special cases like these.
Many debtors take their chances, falsely believing that they are immune from any consequences simply because they live in another country.
In circumstances such as this, an international debt collection specialist is the best solution. The debt collection experts at Federal Management have years’ worth of experience, recovering debt globally.
To us, debt collection in China is a matter of following a proven and effective process. Our experts have up to date knowledge of the legal and cultural practices surrounding debt in China. An example of this is the differences in the statute of limitation between the two nations. As well as this, factors like the language differences and local time all contribute.
No stone is left unturned in our effective and fully comprehensive process.
For UK businesses, it is important that an amicable collection is made. This is to preserve business relationships, and ensure that future trade is possible. Many alternative solutions are similar to burning bridges, and a proactive and thoughtful approach is always preferable.
Debt Collection in China – Instructing Federal Management
Are you owed money from a non-paying client in China? Are your internal debt collection efforts being ignored by the debtor? If so, instructing a professional international debt collector like Federal Management is the answer.
Speak to our friendly debt collection experts now for a free pre-action assessment of your case.
Debt Collection in China – Frequently Asked Questions
What happens when debt is sent to a collection agency?
A debt collection agency will use a proven process to recover any owed money. International debt collectors have expert knowledge of local laws and customs regarding debt. If you need help with debt collection in China, an overseas debt specialist is recommended.
Can a collection agency recover money from another country?
Yes, a specialist international business debt collection agency can recover debt from virtually anywhere in the world. For example, Federal Management has collections agents in most major cities, enabling us to recover debt from every nation.
How much does debt collection in China cost?
Collection costs vary, as each case must be priced according to its own merits and circumstances. Federal Management operates low commission rates, beginning at just 8%. This enables most businesses to use our effective services.
What are the success rates of collecting a debt from China?
The success of international debt collection is usually determined by the skill of the collector and the nature of the debt. Federal Management has an average recovery rate of 90% on all undisputed business debts. This makes us the most successful in the UK.
Can I recover business debts from a company in China?
Most debts can be recovered, regardless of the location of the debtor. Federal Management provides specialist international commercial debt collection services. This helps us to recover business debts from almost anywhere in the world.