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International Debt Collectors

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International Debt Collectors

It is easier than ever before to do business, with millions of agreements and transactions happening daily.

Boundaries and borders no longer exist, and businesses now have the potential to operate on a global scale.

Whilst this is a great step for businesses, it also provides a greater opportunity for debt to occur.

As such, there has never been a greater need for international debt collectors.

Indeed, since the Brexit referendum and departure from the European Union…

…there has been a reported increase in the number of European commercial debts that need recovering.

If you are a business owner and someone owes you money, you need to take action.

Your company must be able to function to grow and having ‘problem payers’ will put things at risk.

It is a fact that all businesses will encounter a client who is unwilling to pay at some point.

With the increase of international trade,  money that someone in another country owes is becoming more and more of an issue.

For many business owners and credit-control teams, recovering a debt from someone in another country can be a daunting task.

You can protect yourself from situations like this.

For example, creating contracts, payments terms…

…and a robust international credit control process can help.

In this article, we explain how international debt collectors can help recover money owed by someone in another country.

International Debt Collectors | Get Expert Help From Debt Collectors Now

If you need help with a Debt, our friendly team of Debt Collection Experts is happy to help you today,

SPEAK TO A DEBT COLLECTION EXPERT

International Debt Collectors Expertise

International debt collectors have specialist expertise for recovering debt from around the world.

Having a working knowledge of each nation’s debt recovery laws is crucial.

It is this expertise that makes them an effective solution.

The next few sections outline some of the laws and procedures various nations have put in place.

European Order for Payment

For instance, according to the European Parliamentary Research Service…

…to supplement the existing order for payment measures, EU legislature created a European Order for Payment (‘EOP’) procedure.

The procedure is available for cross-border claims for money, for those arising from a contract.

It is based on standard forms and the claimant does not need to prove the case before an order is issued.

Once the defendant receives an EOP, they may oppose it.

This then makes the EOP unenforceable and the case then moves onto standard civil proceedings.

This is to combat the costs and time of cross-border debt collection.

International Debt Collectors

International Debt Collectors – Dealing With Foreign Courts

In some cases, international debt collectors may use court action to enforce a debt.

If someone in another country owes you money, you might be unsure of how this works.

If you are unsure of your nation’s court on their ability and speed of recovering your money from a debtor abroad…

…a creditor does have the right to appeal to a foreign court.

By choosing a foreign court you could avoid the risk of exemptions on the debtor’s part, whilst the case is in process.

International Arbitration

The International Arbitration Attorney Network defines international Arbitration as:

“one of the most effective ways to resolve a conflict, offering a final and binding solution when parties are unable to agree upon settlement and without taking a matter into court.

This technique involves one or more arbitrators reviewing the Dispute and making a final and binding decision.

When arbitration awards are rendered in international disputes, they are enforceable throughout the 149 States that are Parties to the New York Convention.”

Compared to domestic court proceedings, international arbitration has many benefits such as;

Speed

The whole process can be a great deal faster than traditional court procedures since there is no appeal.

This is especially true if the parties agree to speed up arbitration proceedings.

Cost

Traditional court cases can last years, especially if there are appeals.

This results in an increase in costs over time.

With international debt collectors, the process is quick.

The entire cost can be less.

Privacy

The main advantage is that there are no public hearings with arbitrations.

This means that the case is confidential and will take place in private rooms.

When all parties make a decision it is not published.

There is an exemption of international investment arbitrations, which are arbitrations involving states.

Simple

Traditional court procedures can be very time-consuming and confusing when they are motion-based.

In arbitration cases, the practical rules tend to be far simpler, flexible and the parties may customise them.

Practical and Cost-Effective Solution – International Debt Collectors

The recovery of debt from an overseas client can be successful if you instruct international debt collectors.

Federal Management is the UK’s leading specialist international debt collectors.

Our clients rate us the UK’s number one, with specialist knowledge in every industry sector.

As well as being the number one choice for business debt collection in the UK…

…we are also the leading specialists for international debt collection.

We have a global network of trusted debt collection agents who are all experts with the local laws on debt recovery in their own countries.

As a result, we can collect a debt from almost anywhere in the world when instructed to do so.

Are you or your business is experiencing problems with non-paying clients from a customer based overseas?

If so, using specialist international debt collectors is the best option.

Federal Management provides a free pre-action assessment of your debt.

This allows you to consider your options before committing to any course of action.

For more help on matters relating to international debt collectors, speak to one of our friendly experts today.

International Debt Collectors | Get Expert Help From Debt Collectors Now

If you need help with a Debt, our friendly team of Debt Collection Experts is happy to help you today,

SPEAK TO A DEBT COLLECTION EXPERT

International Debt Collectors – Frequently Asked Questions

Do You Just Deal With B2B Debt Collection?

We are the UK’s leading Business Debt Collection specialists but can also help with Personal Debt Recovery

What Is Your Recovery Rate?

We collect as much as 90% on undisputed Business debts.

What Are Your Commission Rates?

Our Commission rates start from as little as 6% upwards dependant on the value, volume and complexity of the debts.

Are You A Professional Company?

Yes, we are a Multi-Award Winning FCA Regulated Company that has operated since 2004.

Do You Have A Minimum Debt Value You Will Act-On?

It depends on the nature of the debt. Normally £500+ but we can usually help or give advice for smaller amounts.