Recovering An Outstanding Debt From France
Recovering An Outstanding Debt From France
Is your business owed money from someone in France? If so, Federal Management’s premier international debt collection service can provide a successful and cost-effective solution.
Many debtors believe that if they reside in another country, they are completely free from any consequences of not paying their bills. This is simply not true, and we believe that any business that has provided a high level of goods and services should rightfully be paid.
If you require debt recovery in France, our experts can help. Since 2004, we have collected millions of pounds worth of unpaid debt from around the world. Our global network of trusted debt collection agents ensures that every step is taken to prompt the debtor to pay.
Collect a Debt from France
A large portion of the French economy depends on the country’s small businesses. Today, it is extremely common for those companies to deal with businesses overseas. British companies are some of the most regular trading partners, with thousands of arrangements taking place daily.
France is one of Britains biggest trading partners, with an estimated $30.99 billion worth of exports in 2020 alone.
With this high level of trade, the likelihood that debt will occur has increased dramatically. More and more UK businesses are finding that their clients in France do not pay on time or at all. Studies have indicated that over 60% of French companies fail to pay within the agreed payment terms.
Debt collection in France may seem complicated at first glance, but our expert debt collectors have a deep understanding of what must happen. For instance, the debt collection process differs slightly in several key areas.
An example of this is the limitation period for the enforcement of debt. In the UK, this time period is six years, whereas in France it is five years. As well as this, there are the local and national laws in France that deal with the subject of debt.
Legal proceedings in another country is always an option, however, it is often more beneficial to use the services of an agency instead. For instance, there are several main laws including:
- Order for Payment Proceedings
- Civil Proceedings
- Summary Proceedings
- Laws for a bounced cheque
As well as this, any successful debt collection cases must take factors such as the language differences, as well as any cultural points that must be known.
In order to be successful, the debt collection agency carrying out the enforcement must have expert knowledge of every consideration. You should only ever use a debt collector that has a proven history of recovering debt from France.
Debt Collection In France – Instructing a Professional Debt Collection Agency
Whilst there are many methods of debt collection in France, such as legal action, none are as beneficial as a professional debt collection agency.
Federal Management’s leading debt collection service has the following benefits:
- Low cost commission rates from 8%
- A local, national and international network of trusted debt collection agents
- An average debt recovery rate of 90% on all undisputed business debts
- Sophisticated tracing service to track down absconded debtors
- Specialist team for debt collection in France
- Free pre-action appraisal
- 24/7 access to our online client portal
As well as recovering the money that is owed, it is also important to ensure that the matter is handled professionally. In the case of a company, it is important that an amicable solution is reached. This is so a business can continue to benefit from the revenue clients in France can provide.
If you are having payment issues with a client based in France, speak to our debt collection experts today. Regardless of where your debtor is based, from Paris, Calais, or Nice, our debt collection can help.
Debt Collection in France – Frequently Asked Questions
How long can a debt be chased in France?
In France, the limitation period for enforcing debt is 5 years. This begins from the date when the claim is due. For example, if a due date on an invoice is missed and the payment period of 30 days is exceeded, the time period starts once the 30 days are over.
Can debt be collected internationally?
Yes, debt can be recovered and enforced regardless of the debtor’s location. A specialist international debt collection agency would be the best choice to recover an overseas debt.
How much does debt collection in France cost?
Every case is different and a cost can only be provided once a debt collection expert has been able to review it. Federal Management has low commission rates of 8%, offering a cost-effective solution.
How effective is debt collection in France?
Federal Management has an average debt recovery rate of 90% on all undisputed business debts. Our pre-action assessment discovers if a debt can be recovered. If it can, we will do so.
What types of debt can be recovered from France?
All types of debt can be recovered in France. Federal Management specialises in commercial debt collection, but can also recover any type of debt. Speak to our debt collection experts now for more information.