Debt Collection in Turkey
Debt Collection in Turkey
Many businesses based in the UK deal with clients all over the world. One such partner is Turkey, which the UK exported $6.3 billion worth of goods to in 2020.
As with any other trading relationship, British businesses are noticing that there are always instances of non-paying clients resulting in unpaid invoices. The number of debts in Turkey has created a growing need for professional debt collection solutions.
Does your business have issues with non-paying clients in Turkey? Do you need to recover debts owed resulting from unpaid invoices? If the answer is yes, the best solution is to instruct an international debt collection agency as soon as possible.
Our team of debt collection experts have recovered millions of pounds for UK businesses since our opening in 2004. Our international debt collection service has the highest success rates and ensures that your money is recovered promptly and professionally.
Recovering a Debt from Turkey
Any case involving international debt collection is more complex and requires a specific skill set. As well as expertise in debt recovery, an understanding of local laws, customs and native language is needed.
There are many legal and cultural differences regarding debt collection in Turkey when compared to the UK. For example, the UK has a limitation period of six years on enforcing the collection of debt. In Turkey, this is just 2 years long, but certain exceptions can be made.
It is common for businesses to perform their credit control processes internally. In the case of debt collection in Turkey with its added complexities, this may be ineffective. This is important to know, as seeking a professional solution earlier can actually save precious time and money.
Taking action through a debt recovery agency is often the most beneficial option when it comes to enforcing overseas debt. You should always confirm that the debt collector you choose has the knowledge required as well as a proven history of successful recoveries in Turkey.
As well as this, it is important to preserve any existing business relationships. Whilst it is only natural to feel hurt or offended when someone doesn’t pay, there may be future opportunities to benefit from. Federal Management will take every step necessary to ensure that the case is resolved in an amicable manner for all parties.
The Process of Debt Collection in Turkey
Whilst alternative solutions such as legal action will move a case through the court system, this can often take a great deal of time. It is vital to recover any owed money as soon as possible. If your business’s cash flow is affected too much, then it can cause a lot of problems.
Finding the right solution with a robust and proven process is critical to success. If the agency you choose does not have a dedicated international debt collection process for Turkey, then it may not be the best option.
Federal Management will provide a free pre-action assessment of your debt. This appraisal assesses the viability of your case’s recovery chances, giving you the information needed to make an informed decision.
Debt Collection in Turkey Costs
An international debt collection agency will provide a low-cost and effective service. Many agencies and law firms will offer “no win, no fee” deals, but this is often a gateway to many hidden costs.
Federal Management provides low commission rates, starting from as little as 6%. As well as this, our average recovery rate is up to 90% on undisputed debts.
Debt Collection in Turkey – Instructing Federal Management
If you are owed money by a non-paying client in Turkey, we can help to recover it promptly and professionally.
Speak with our friendly debt collection experts today for more information, and take the first step towards recovering your money.
Debt Collection in Turkey – Frequently Asked Questions
How long does it take to collect a debt from a client in Turkey?
This often depends on the nature of the debt, as well as any unique complexities the individual case may have. In short, every debt collection case is different and must be examined in isolation. The best way to find out the answer to this question is to speak to a professional debt collection expert. Please contact us now for more information.
Can personal debts be collected in Turkey as well as business debts?
Yes, professional debt collection companies often specialise in both commercial and private debt recovery. Federal Management is regarded as the UK’s leader in international debt recovery as well as commercial debt collection. However, we also provide services for other forms of debt recovery. Speak with us today for more information.
How much does debt collection in Turkey cost?
Every debt collection case is unique and must be priced according to its own merits. For more information on the cost of debt recovery, is it best to contact a debt collection expert as soon as possible. Federal Management can provide a complimentary pre-action assessment of your debt. This will provide information that can help to understand how viable your recovery chances are, as well as a proposed cost.
What can my business do to recover a debt in Turkey?
Whilst it is common for most businesses to attempt debt recovery themselves, this often takes a great deal of time, money and effort. As the enforcement options a business have may be very limited (such as phone calls or stoppage of services), these may simply be ignored by a debtor that is determined not to pay. It is usually better to hire the services of a professional debt collector instead.
How can Federal Management help with Debt Collection in Turkey?
Federal Management is regarded as the UK’s leading international debt collection agency. Our global network of trusted debt collection enables us to enforce debt virtually anywhere in the world. We provide a proven, effective and low cost service for businesses across the UK.