Expert Debt Collection in Greece
Debt Collection in Greece
Is your business owed money by a client in Greece that is refusing to pay? Are you in search of a professional debt collection agency to recover your money? Federal Management’s leading debt collection process provides a low-cost and effective solution.
Our average debt recovery rate is above 90% on all undisputed business debts. This ensures that all cases are recovered promptly and professionally. If you are in need of professional and effective debt recovery, contact one of our experts now.
Differences with Debt Collection in Greece
Most UK businesses operate in similar ways. For example, it is common for companies to have 30 or 60 day payment terms. In Greece, these payment terms are significantly longer than in other European countries. This leads to a high number of late payments, which is why UK businesses must take a firm stance on debt recovery.
There has always been a high level of trade between the UK and Greece. In 2021, there was £2.2 billion worth of UK exports sent to Greece. With so many transactions taking place, the potential for a debt to occur was inevitably high. As such, many UK businesses found themselves in a position where their Greek clients either pay extremely late or withhold payment completely.
It is clear that an effective debt collection solution is required, and company owners should take the time to source the best option for them.
For example, debt collection in Greece, as with any other international debt recovery case, requires a higher level of knowledge and expertise. There are many differences in laws, rules and regulations that debt collectors need to know.
For example, there is a limitation period on debt enforcement in the UK. This lasts for 6 years, and if a debt is still outstanding after that period of time, then it can no longer be enforced. In Greece, this time period is set at just 5 years – something the firm collecting the debt needs to know.
As well as this, there are various national and local laws that need to be known, in addition to the overall European debt collection laws. Also, simple factors such as speaking Greek and understanding cultural differences can all contribute to a successful case.
For these reasons and in cases like this, it is almost always preferable to instruct a specialist international debt collection agency such as Federal Management.
Debt Collection in Greece – Hiring a Debt Collection Agency
As well as having the skills and expertise required, a debt collection agency can provide a powerful and cost effective solution.
Federal Management is often regarded as the UK’s leading international debt collection agency. Since 2004, we have helped thousands of UK businesses recover millions of pounds worth of unpaid debt.
Our award winning debt collection process is fully comprehensive and takes everything into account. We provide a totally professional service, taking every step to ensure that each case is resolved amicably for all parties involved.
This is important for businesses, as it allows them to enhance existing trade relationships as well as benefitting from more opportunities from clients.
Does your business need assistance with debt collection in Greece? Contact us now and speak with a friendly debt collection expert.
Debt Collection in Greece – Frequently Asked Questions
What type of debts can be collected from Greece?
Any type of debt can be collected by a professional debt recovery agency. For example, both private and commercial debt can be recovered. Regardless of the type of debt or the circumstances surrounding it, speak with us now for more information on how we can help.
How long does debt collection in Greece take?
Every case is different, and each has its own unique circumstances. Some cases are naturally more complex than others, and sometimes time scales can vary. When speaking with Federal Management, our experts will provide a free appraisal of your debt. This assesses the situation and provides you with details that can help you to make an informed decision.
How much is debt collection in Greece?
As mentioned, every case of debt is unique and no two are the same. There are many factors that contribute to the cost of debt recovery, and as such, there is no single price that can be attributed.
Instead, many agencies operate on a commission based pricing structure. Federal Management’s commission rates begin from as little as 8%. For more information, speak with an advisor now.
What can I do to recover a debt from a client in Greece?
Many businesses will aim to recover a debt themselves. In-house credit control teams will quote payment orders and make phone calls to or email a debtor using the contact details they have available. However, without stronger enforcement methods, many of these efforts will be ineffective. Instead, it is easier and more beneficial to instruct a professional debt collection agency.
Can Federal Management help with debt collection in Greece?
Yes, our team of expert debt collection agents have helped many businesses recover money owed to them from debtors in Greece. We have a global network of trusted debt recovery partners placed in strategic locations across the world. This gives us the UK’s leading expertise of international debt collection, as well as the ability to recover money from virtually anywhere in the world.