Debt Collection In Germany
Debt Collection In Germany
For many businesses and individuals, debt recovery may seem like a challenge at the best of times.
When unpaid fees are owed internationally, this can present an even larger obstacle to tackle.
The United Kingdom exports to Germany in 2020 were approximately $41.63 billion, which has resulted in a greater opportunity for debts to occur.
Whilst unpaid invoices are common in daily business life, this is an issue that needs resolving.
The recovery of international debts is perceived to be a difficult task due to the hurdles that one must cross.
In reality, it is a case of having the correct expertise and training to successfully recover debts overseas.
Do you require debt collection in Germany from a delinquent business debtor?
Federal Management is the UK’s leading business debt collection agency for the recovery of international debts in Germany.
There are a plethora of benefits to using our award-winning services, including:
- Industry-high recovery rates of up to 90% on average.
- A low-cost and affordable international debt recovery service.
- A global network of agents with expertise in each country.
If you are a business owner that has a debtor in Germany, you need to take action to recover this.
Our international debt collection procedures are robust and effective in nature and provide a dedicated solution.
Federal Management’s Expert Debt Collection In Germany Service
Of course, business owners can take preventative measures to stop overseas debts from happening.
The use of payment terms, contracts and robust credit control teams are all examples of this.
It is a sad reality that the need for debt collection in Germany cannot easily be avoided.
When the inevitable happens, business owners may choose to abandon the debt due to the pressure of recovering it internationally.
As previously mentioned, there are many barriers that one will face during the debt collection process.
This includes time differences, communication and language barriers, cross border laws and financial regulations.
For in-house credit control teams, this can present a challenge that can take a significant amount of time.
No business should ever abandon the recovery of money that is rightfully owed to them.
There is a solution available in the form of instructing the specialities of Federal Management.
Outsourcing the debt collection in Germany provides many benefits to you and your business.
Outsourcing Debt Collection In Germany Benefits
One of the main benefits of choosing Federal Management is that it allows you to focus on your business.
Instead of having to recover the debt yourself, you can focus on beneficial tasks that will help grow the business.
This is positive as the debt will have more than likely affected the business’s cash flow.
Additionally, an international debt collection agency will have specific experience collecting debts across the globe.
We are no strangers to performing debt collection in Germany for our overseas clients.
This has allowed us to build an in-depth knowledge of its specific laws and regulations.
Legal proceedings are known to take longer overseas and having an expert agency to deal with this will benefit you.
This is especially true for Germany, as the legal system there protects debtors.
Germany Commercial Debt Collection Laws
If you wish to take legal action against a German debtor, there are laws and regulations that you must abide by.
For example, debts in Germany can become ‘Statute Barred’, which is when a debt can no longer be recovered.
The time a German debt can be recovered is 3 years, which differs from 6 years in the UK.
Limitation periods can change depending on the circumstances, and the district court can make exceptions to this.
Federal Management is familiar with laws like this and knows which collection methods are best.
Professional Debt Collection In Germany
When needing debt collection in Germany, it is a good choice to use a professional solution like us.
Since 2004, Federal Management has provided one of the leading services for debt collection in Germany.
We ensure to deliver the swiftest, most professional and effective recovery of your business debts.
The key points to using our international debt collection service are:
- We have a local collections network of debt collection experts.
- Across our long history, we have experience collecting debts in Germany.
- Knowledge of specific country laws and regulations.
- We have a global network of collections teams.
- Industry leading recovery rates combined with an affordable service.
If you or your business are owed money in Germany, do not hesitate to get this recovered.
Speak to one of our international debt collection experts today on 0333 043 4425.