The Best Agencies for Debt Collection from Asia
Most modern businesses deal with clients from all over the world.
It is easier than ever before to provide goods and services to those based in other countries.
Most transactions take place without incident.
Despite this, there is always a risk that the person or business you are dealing with may not honour your agreement and pay you.
This is a risk for both private individuals and businesses.
When this does happen, people can face a difficult challenge – recovering a debt from someone in another country.
Whilst this may seem like an overwhelming task, professional solutions exist to help those who are in need.
Many businesses in the UK have clients in locations all across Asia.
Countries such as China, Japan and India as well as every other Asian country deal with British businesses and people every day.
With millions of transactions occurring daily, there is a great potential for debt to occur.
When this happens, it is useful to know who to turn to.
We asked our in-house team of experts who the best agencies for debt collection from Asia are.
The Best Agencies for Debt Collection from Asia
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Asia Debt Collection – Who Should I Contact for Help?
According to statistics, there are a staggering 4.56 billion people that live in Asia.
As well as this, there are an estimated 114 million total enterprises across the entire region.
The different countries that make up the continent are home to these companies.
Each one of these nations has its unique way of governing debt and how people can collect money.
If someone owes you money, you will most likely wish to recover it as soon as possible.
Common reasons why someone might owe you money include:
- A client that has not paid for goods or services
- A friend or family member you have loaned money to
- An old tenant who has not paid rent on a property
- You have bought something that never arrived, and now you want your money back
Regardless of the reason, you need to find the best solution for all matters relating to debt collection from Asia.
The best option for recovering money owed from someone in Asia is to instruct a professional debt collection agency.
Other options do exist, such as specialist solicitors, but these are far too costly in both time and money.
In some cases, the cost of hiring a solicitor can cost more money than the value of the debt itself!
A specialist debt collection agency will be able to recover your money fast and at a low cost.
As well as this, they will have the knowledge and expertise to be able to carry out any debt collection from Asia…
…regardless of the nature or location of the debt.
A debt collection from Asia requires the agency to be familiar with local debt recovery laws.
For example, there are 48 countries in Asia, and each one has a unique way of handling debt.
There are different laws and limitations involved.
There are also cultural implications that all affect the collections process.
Without knowledge of this, carrying out a debt collection from Asia would be very challenging.
Debt Collection from Asia – Instructing a Specialist Recovery Agency
When searching for someone to help with a debt collection from Asia, people can become overwhelmed.
A short web search for ‘international debt collections’ will provide hundreds of results.
How do you know which ones to choose?
International Debt Collectors has provided the UK’s leading global debt recovery solutions.
We have helped hundreds of businesses and private individuals alike recover the money that someone owes them.
We have a trusted network of award-winning debt collection partners.
We have listed the best options for both commercial and private debt collection from Asia.
Commercial Debt Collection from Asia
As mentioned, there are millions of businesses placed all across Asia.
Many do business on an international scale and as such a great number deal with businesses in the UK.
If you have provided goods or services to a business in Asia only later for them to withhold payment…
…you will need a debt collection agency that will provide the best service possible.
As well as this, the agency you choose should provide an accredited and professional service.
Many business owners do not factor this into their decision making.
As such, they instruct a “low quality” agency that only causes more problems.
The best agency in the UK for commercial debt collection from Asia is Federal Management.
Federal Management has provided the UK’s leading international debt collection solutions since 2004.
They have helped clients both inside Britain and abroad.
Federal Management has an average debt recovery rate of 90% on all undisputed business debts.
They are also the only UK debt collection agency that the Financial Conduct Authority (FCA) regulate.
With the UK’s foremost experience with debt collection from Asia, they are our recommendation.
Private Debt Collection from Asia
As well as businesses, private individuals do business with people and companies in Asia daily.
This may be as simple as buying a product from an online shop.
It could also be loaning a friend or family member based in Asia some money.
For those who are self-employed, it could be that they have sold something to someone in Asia who has not paid.
There are many different ways in which a private debt could occur.
Regardless of this, once someone creates a debt the money needs collecting as soon as possible.
Many large businesses have the capacity for in-house credit control teams.
Freelancers and those who are self-employed do not have this option, and neither do private individuals.
If you need help with a private debt collection from Asia, it can be stressful and confusing to find a solution.
Since 2005 they have helped thousands of private individuals and small business owners recover millions…
…in money owed from people and companies in Asia.
Like Federal Management, they provide an effective and low-cost service.
Frontline Collections is our recommendation for private debt collection from Asia.
Debt Collection from Asia – Instruct an Agency Today
For all cases involving collecting a debt from someone in Asia, speak to our friendly team of recovery experts today.
Our referral service is open to anyone and is 100% free of charge.
Speak to us today for a free pre-action debt appraisal.
A debt collection expert will assess the viability of your debt’s recovery prospects.
This will give you a clear idea of the options available to you.