International Debt Recovery is the process of retrieving debt owed by an international debtor on behalf of a creditor.
As technology improves, globalization continues, and societies around the world progress, the world becomes ever more interconnected. Today, companies that are both geared towards international enterprise, as well as ones that focus on domestic business, deal with international clients at an ever-increasing rate. With this increasing number of encounters, so increases the amount of cross-border transactions. These cross-border transactions also inevitably increase the amount of money that creditors have lent in some form to international debtors. This type of debt could range from anything from a foreign business who purchased a company’s goods on credit to a tourist who refused to pay the fees he owed after renting a car. Recovering such debt is crucial for a business’s solvency, and that’s what makes International Debt Recovery essential.
As a creditor, collecting debt from debtors who are in distant countries can be an incredibly challenging, if not impossible task. That’s why if you run into collection problems, it’s absolutely essential to find a collection expert as quickly as possible. Decades of invaluable experience and hard-won collection cases have taught us all the importance of prompt action. Every day you delay, the age of the debt grows, and the likelihood of eventual recovery decreases. If you have a debtor who you can’t contact, is refusing to pay, or is presenting other challenges regarding collection, it’s imperative that you find a collection expert.
Fortunately for you, this is where DebtCollectionAdvisor.com can help you. DCA (DebtCollectionAdvisor.com) hosts a globe-spanning array of international collection experts who are eager and capable of assisting you with advice or professional assistance collecting debts. On DCA’s main webpage, simply choose the country where your debtor is, then choose the appropriate speciality tag for your specific situation. After that, browse through the large selection of experts, examining their platform rating, self-introduction, articles, success stories, and other information they’ve posted on DCA in order to judge which expert you’d like to contact. After you’ve chosen an expert (or several) you’d like to talk to, simple click “Let’s Chat” on that expert’s page. In the chat window that opens, inform the expert of the details of your case by following the on-screen instructions. The information you provide at this stage is very important because it’ll give the expert a good understanding of your situation and how he can best help you.
Once you’ve communicated with an expert that you feel is perfect for your case, you’ll need to sign a collection contract with that collection expert. Several important things will be stipulated in the contract that will need to be agreed upon by you and the collection expert, such as method and amount of remuneration for the expert’s services, the relative obligations of the debt collector and creditor, collector exclusivity, and contract validity. Once you and the expert have reached terms, the expert will begin his collection procedures.
The next step can vary greatly depending on the location of the debtor. Each country has different laws and regulations regarding debt collection practices, so it’s impossible to say the exact steps that will be taken by the collection expert to help you. However, further down this page, you can find an explanation of the general process of debt collection as well as a large collection of helpful information we’ve provided regarding the various differences in international collection procedures as they exist in different countries. Furthermore, your specific collection expert can also provide you with invaluable information regarding common collection practices in their nation of operation.
The International Debt Recovery Process
International Debt Recovery by Country
Reporting International Debt to A Credit Reporting Authority