Using an International Debt Collection service
Using An International Debt Collection Service
When an International Customer fails to pay what they owe, this presents a challenge. It is far more difficult to act when your Business customer is not in the United Kingdom. So using an international debt collection service can be a mandatory step to getting paid. Collecting Debts outside the UK carries a certain apprehension for some but that need not be.
Debts are recovered from all over the world on a regular basis. From a Business Debt in Dubai to a Commercial Debt in America, there are options to choose from.
When your customer is in a different jurisdiction, this can be a major obstacle. Knowledge of the relevant laws within that jurisdiction is essential. This article explores the simple steps that can be taken as part of our International Debt Collection service.
Contact your customer
If the invoice payment deadline has been missed, you need to reach out to your customer. Let them know payment is now overdue and it needs resolving. If your requests go ignored then advise you will instruct a third party. Sometimes this can trigger a chain reaction and they will pay without further delay.
Unfortunately, some debtors think because you are located in the UK, there is nothing you can do.
Get Expert Advice
So your customer has failed to pay the outstanding invoice. What are your options now? Well, start by speaking to a specialist. They can perform basic checks to ensure that all is not lost. Checks as to the legitimacy of your debt are the first port of call. Then checks and investigation into the current standing of the customer in question.
This assessment will enable the specialist to verify that there is the prospect of the debt being paid. It will give you a better perspective on the situation and understanding.
Proceed with action
If the Customer is still actively trading and there is merit in the Debt claim, action can begin. Copies of documentation pertaining to the relevant debt would be required. This will enable the Debt Recovery Specialist dealing with your claim to start. A notice of Instruction is usually issued to the Debtor Company straightaway to let them know. This will make them aware that the matter has now increased in severity.
Overseas Debt Collections
All cases are initially dealt with by our Head office. The file is prepared by an International Debt Collection service specialist. They perform all tasks and due diligence relating to the file. Maximum effort goes into resolving the matter as quickly as possible. Where a more Pro-Active action is required, we have Partners and Associates in most countries across the Globe.
Local knowledge is super valuable. Over the past 15 years, we have developed a network of the very best in International Debt Collection Agents. These can be called upon to act when our reasonable efforts at dialogue have been met with resistance.
A physical and local presence sometimes ensures the Debtor knows the matter will not simply disappear. We can also use relevant local litigation Agents when needed if a sterner approach is necessary. This localised intelligence and information is the difference between getting paid and not getting anything.
All clients of our renowned International Debt Collection service are kept updated. Regular reports keep clients informed of progress right up to securing payment. Our Global Accounts Team manage overseas payments from whichever country they originate. These payments are managed through to them being forwarded to your bank account.
Cost-Effective Collection solution
When people think of an International Debt Collection Service, they usually think of the great expense. That is not the case here, quite the opposite. We minimise the costs to our clients by delivering a low fixed fee service. If our initial investigations prove to be fruitful then we can act. If initial checks show that your international customer is insolvent, we will tell you.
Less than 1% of the International Debt Recovery cases we deal with require litigation. It is not in ours or our client’s interests to protract matters. Our aim is to keep costs to a minimum and recover what is owed expediently.
Act now – Time is of the essence
If you have perused this article in full then it is likely your business is owed money from an international customer. Procrastination will not help your Business Invoice get paid so speak to an Expert now. We can assess the situation in full and advise of the best solutions. The Debts we have collected have ranged from EU based debts through to more remote locations such as Africa.
Our Specialist International Debt Recovery Team are here to help you and your Business get paid. So contact us today for your free consultation and assessment in confidence.
Common FAQs about using an International Debt Collection service
What is an International Debt Collection service?
An International Debt Collection service provides businesses with the ability to collect debts from customers located internationally. It can be an effective way for a business to reclaim owed money without having to go through lengthy and expensive court proceedings. Our team of experts have extensive experience in recovering debts from across Europe, Asia, Africa and many other international locations.
What is the best way to recover an International Debt?
The best way to recover an International Debt is to use a professional debt collection agency. Our team of experts have years of experience in successfully recovering debts from overseas customers, and we are confident that we can help you achieve the best possible outcome for your business.
We also provide a wide range of other services including dispute resolution, litigation support, asset tracing and more. All of our services are tailored to meet your individual needs, and we strive to ensure that you receive the best possible outcome for each case. By enlisting the help of a professional debt collection agency, you can be sure that your debts will be dealt with promptly and effectively.
How much does an International Debt Collection service cost?
The cost of a debt collection service will vary depending on the size and type of debt, as well as the country in which it is located. Our team of experts will be able to provide you with an accurate quote for our services, based on the specifics of your situation.
We are committed to providing a competitively priced solution that will work within your budget, while still maintaining our high level of service and results.
What countries are covered by your International Debt Collection service?
We provide debt collection services across the globe, so you can rest assured that no matter where your debtor is located, we will be able to pursue them and recover what rightfully belongs to you. From Europe to Asia, Africa to North America, our team of experts have the experience and resources needed to successfully resolve any debt collection problem.
We are committed to providing a comprehensive solution wherever the problem. From debt collection in Australia through to Zimbabwe.