Debt Collection in Ireland
Debt Collection in Ireland
Ireland is one of the UK’s biggest trading partners, with $27.82 billion in exports done in 2020. With the countries being in such close proximity, the natural relationship they share helps both to prosper.
The number of UK companies that have business relationships with organisations in Ireland is only growing. However, with this growth comes the increase in the potential for debt. Unfortunately, not all clients will pay, and many British companies are left in a difficult position when they are not paid.
Does your company have a client in Ireland that has withheld payment? If so, you may already have tried your own debt recovery methods. If these have not worked, then you might be wondering where to turn next.
Federal Management provides the UK’s leading international debt collection solution. We have expert knowledge of the Irish laws and customs of debt collection in Ireland. As such, we have helped to recover millions of pounds in unpaid fees.
Our local, national and international debt collection network ensures that our debt collection process in Ireland is as effective as possible.
How Businesses Operate in Ireland
Generally, Ireland’s businesses operate in a very organised and proactive manner. Most companies take their financial obligations very seriously, and there is a common payment structure in place. For example, most businesses pay for the goods and services they have procured within 30 days. Some larger companies may pay within 60 days instead.
This is very similar to the UK, and there is a great level of similarity between the 2 nations. However, despite this, there will still be times when a client in Ireland does not pay the debt. It is important to ensure that you hire a specialist with the proper expertise to recover a debt.
Expertise in Debt Collection in Ireland
Before committing to any course of action for recovering your Irish debt, you must take certain factors into account.
Many debt collection solutions will claim that they can recover debt from anywhere. In practice, you should only consider specialist international collection specialists.
For example, it is important to understand the laws, culture and day-to-day activities regarding debt collection. It is also good to consider the collection activities your chosen solution will use.
The solution you choose should have a proven history of recovering debt from overseas. Every country has its own way of government debt recovery.
Many people consider legal action to be a good solution. However, they don’t consider how this might play out in another country. In some cases, it can be drastically more complex and time consuming than what they expect.
Legal proceedings can also be quite expensive. Some solicitors charge hundreds of pounds for every hour they spend working on the case.
Every case is unique and has its own circumstances. Complications that may arise because of this is another reason for having an expert to collect debts. For example, you may already have a judgement against your debtor that must be enforced. A number of factors, laws and regulations need to be observed in this instance.
For commercial debt recovery in Ireland, one of the most beneficial options is to choose a debt collection agency. A collection agency will provide a specialist service that will ensure payment of the debt is made.
Benefits of Instructing a Debt Collection Agency
Before taking on any case, Federal Management will always conduct a free pre-action appraisal. This assesses the likelihood that the debt can be recovered, and provides the client with a clear indication of their prospects. If the debt can be recovered, we will do so in the most professional manner possible.
Federal Management has helped businesses recover unpaid debts from clients in Ireland. This is as well as other European communities and the rest of the world. Our international debt collection service is widely regarded as the leading UK solution.
We have a global network of trusted international debt collection agents. In Ireland, our agents are strategically placed to provide local and national coverage. Each one is an expert at recovering debt in Ireland, and our proven process has an excellent recovery rate.
As well as this, our agents take every step to ensure that business relationships with those that owe money are preserved. Even though it is frustrating to have payment withheld, most cases can end positively. There may be future opportunities for business with the company in question. Making sure that bridges aren’t burned can be critical to a businesses growth.
Debt Collection in Ireland – How We Can Help
Some of the key benefits of Federal Management’s debt collection in Ireland service include:
- High average debt recovery rate of 90% on undisputed debts
- Global, national and local network of trusted agents
- Specialist overseas team of debt collection agents
- Low cost, fixed fee debt collection service
We understand that being owed money from a debtor in Ireland can be stressful. As such, our proven, proactive and effective recovery service has helped thousands of companies recover what they are owed.
Speak to a friendly debt collection expert today for a free pre-action assessment.