Debt Collection from Another Country

For many UK Businesses, debt collection from another country is a regular occurrence. Billions of pounds are spent every week in importing and exporting goods from and to the UK.

Where there are large volumes of Business transactions, there is always going to be those that fail. Collecting a debt from another country can be a very frustrating situation.

It is not as straightforward as recovering a debt in the UK as it is more complex. Why? well there are fairly obvious reasons why this is. From disputes to evasion, the list of reasons why a foreign customer may not pay you is plentiful. There are always precautions you should take before providing goods or services to overseas customers.

Applying some due diligence at outset is essential. Credit checking is a useful tool however invoicing your foreign customer on a pro-forma basis is a good idea.

Collecting Debt Abroad

The collection of debt abroad can be a timely, frustrating and costly exercise. If your customer is just ignoring requests for invoice payment then a pragmatic strategy is needed.

The difficulties associated with debt collection from another country fall in a few categories. There are the language barriers for a start. It also helps to have a working knowledge of the local jurisdiction laws also. Most countries have very different laws than the UK in the situation of unpaid debts.

Some countries still have debtor prisons believe it or not. Countries like the United Arab Emirates are still developing their civil procedure systems.

The UK has a far superior infrastructure when it comes to civil law and debt collection. Other international countries are way behind the transparency that we are blessed with in the UK.

This can make the challenge of debt collection in another country all the more frustrating.

Overseas Debt Collection Solutions

Working with a proficient International Debt Collection service provider can help massively. Not only will it reduce your stress levels, it will help save on time and money. The time spent chasing unpaid foreign debts goes unnoticed at times. Different time zones and legal protocols make recovering debt from a foreign country a stressful chore.

By collaborating with a Professional Internal Debt Collection partner, it pays for itself. Not only in terms of the debt being collected but the time and effort it will save you. It has been said that on average, Business owners will spend up to 35 hours on chasing a foreign debt themselves before getting help. That is almost a working week for many and therefore a weeks wage.

Every email, every letter, every, phone call, even every minute spent thinking about it – time is money! All these actions add up.

Taking prompt and positive action will get your international debt paid sooner. The minute you start working with a experienced International Debt Collection Agency, the sooner you start saving time and money.

If you need help with Debt Collection from another country, speak to our Experts today. We can assess the situation, perform checks and offer solutions. We do not paint rainbows or misinform. Our goal is to help individuals and Businesses recover what they are owed.