International Debt Collection
International debt collection by an International Debt Collection Agency proves to be the best option when it comes to collecting an international debt. Conducting business internationally opens the door to numerous possibilities and risks for the companies that participate in global trade. While there can be huge gains made from an expanded client base, access to cheaper suppliers, and partnerships with foreign entities, many companies face an increased risk of dealing with defaults on payment. Collect payment from international clients can be confusing and frustrating as many aspects must be considered. From exchange rates and language barriers to differences in customs and banking processes collecting payment can seem like a daunting task. Having experience in handling commercial transactions and receiving cash is paramount to success when conducting business internationally.
When an international company does not pay an invoice, there can be limited options for addressing the situation. Filing a legal action in a foreign company to try to collect a past due invoice can become a costly endeavor. Where contingency attorneys are familiar in the United States, most international legal systems do not allow practicing attorneys to collect their fees based on the outcome of the case. This means that costly retainers are required to be paid upfront, turning a defaulted debt into an even more expensive expense. In addition to the costs, legal actions can take many years. It is not uncommon for litigation in Brazil, for example, to last longer than ten years from the initiation of court action to the conclusion of the case. In some circumstances, however, even winning a lawsuit in a foreign country will not guarantee recovery. In China, for example, defendants in a suit can file an appeal, and unlike in the US, where only matters of law are questionable in a request, Chinese appeals courts can completely reverse a ruling based on facts they interpret differently. When faced with these challenges, companies may be inclined to file a lawsuit within the United States against a foreign entity, but this is often futile as well as the judgment will almost always be uncollectible and unrecognized when trying to enforce the judgment overseas.
International Debt Collectors
Fortunately, however, the utilization of a third-party debt collection agency can provide businesses with international clients the relief they need. Our agents are trained to utilize various tools when addressing these issues. The agents handling a claim will focus on identifying the cause of the debt, explore remedies to cure the problems, and, when appropriate, use the proper leverage to incentivize the debtor into resolving the matter. Unlike other agencies that use cookie-cutter demand letters and scripted agents, often in overseas call centers, our agents thoroughly investigate the claims to ensure that no stone is left unturned in securing payment. When a company still refuses to address the obligation, we have a network of collection attorneys that will not only dispute the claim but collect through garnishments, liquidations, and other court remedies that force a recovery.
In addition to recovering the debt, other factors make selecting the right company when using a collection agency. On top of being taught collection tactics, our agents are also versed in business etiquette and conduct to ensure that our clients are being represented professionally and that their customers are being dealt with respectfully. In times where anyone can write a yelp or google review, businesses must be represented by a collection agency that conducts business professionally on the world stage.
If you are a company that is currently faced with the problem of collecting on a delinquent debt from an international client, contact our office to speak with a specialist to discuss your collection needs. Unlike other companies that will simply provide a standard quotation and a slick sales pitch, our intake specialist will consult with you to better understand the challenges that you are facing and devise a plan and pricing option that will serve your needs. Your focus should be on the development and growth of your business. Collecting internationally can be highly complex, and allowing our expertise to aid you in the recovery of your past due accounts will not only increase recovery rates but provide you time to devote to your business.