Debt Collection From North America

Debt Collection From North America

In the modern world, it is easier than ever for businesses and individuals to provide services to those in other countries.

For some, international business may be the main source of income for that particular company.

One of the most popular continents that deal in international business is North America.

America itself has the largest economy in the world, generating around 21 trillion dollars a year.

This means that the occurrence of business between North America and other countries is extremely high.

When financial dealings are conducted with someone abroad, there is always going to be a risk that payments go unpaid.

This is a risk that needs to be contemplated, no matter how much they trust the North American client.

In some circumstances, even debtors with good credit reports can end up leaving payments due.

If you have provided services in North America and are unpaid, you may need to look at debt recovery options.

Having money owed is a stressful situation at the best of times, so this can be made even worse when this is based overseas.

This can be a tricky subject to combat, as many perceive international debts as unable to be collected.

The perception of this can be damaging to one’s finances, as they may end up abandoning the debt.

This is due to fear that the debt cannot be collected because of the distance of the debtor in question.

In this article, our team of experts have put together some advice on how to correctly collect debts from North America.

Debt Collection From North America – What You Should Know

In North America, there are over 20 different states and there are around 328 million people that live there.

In each of these different states, there are different laws and regulations that relate to the recovery of debts.

For example, if legal actions needed to be taken against a debtor, this would change throughout the different states.

As well as this, Statute Barred laws will also change between the many different states.

Statute Barred debts are those that are past the point of being able to be collected.

For context, in the UK the amount of time this can be collected is 6 years from the last acknowledgement of the debt.

The various changes in international law can feel overwhelming for someone trying to recover a debt themselves.

The process of debt collection is commonly passed over to a third party, such as a Solicitor or Debt Collectors because of this.

Solicitors can be an impactful way of carrying out debt collection from North America, but this does have its costs.

They are notorious for charging lots of money for their services and can charge even more in international cases.

This is one of the many reasons why a debt collection agency is one of the best choices to recovering money owed in North America.

The Best Agencies for Debt Collection From North America

No matter how much money you are owed, you deserve to have this returned to you quickly and efficiently.

At International Debt Collectors, we have a list of trusted partners that are experts in the case of overseas debts.

Our Recommendations For Debt Collection From North America

For international debts owed by commercial clients, we recommend using Federal Management.

If you have a personal debt owed by a customer, friend or family member, use Frontline Collections.

Both of the partners we have recommended above have expert training and knowledge to deal with even the most difficult overseas debts.

They are well versed in combatting the various barriers that come with international debt collection.

Some of these include time differences, language barriers, country-specific laws and communication differences.

You can be sure that the wealth of experience that our partners have will result in a successful recovery of your monies owed.

Debts in North America can be a real hassle for those that do not know how to recover international debts, and this is where we can help.