Debt Collection Europe

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Whether you are based in the UK, in Europe or anywhere else in the world, you can still be owed money by someone.

Debts are an unfortunately common problem; in that, they can take shape anywhere and from many different walks of life.

No matter where your debt has originated from, it is vital that you take the steps necessary to recover this immediately.

Leaving the recovery of a debt will impact you financially, leaving your cash flow to suffer.

For businesses with debts in the UK, our sister company Federal Management can recover all types of Commercial Debt.

It is important that you know the options for international debt collection. This is due to the many barriers to overcome when recovering money from overseas.

The barriers that one may face when trying to recover a debt internationally are most commonly linked to:

• Language barriers.
• Time differences.
• Country-specific laws and regulations, such as Statute Barred debts.
• Communication differences.

These have presented a frequent issue for clients, with the perception being that international debts are impossible to recover.

Further to this, it has been shown that debtors may move abroad with the thought that they can escape paying their debt.

Regardless of both of these comments, this is never the case.

An international debt has as much chance of recovery as one that is based in the UK, the only change is the time it may take to recover the debt.

Do you have a client or customer that is based in Europe and has not paid you?

Our expert team have put together the best options for your Debt Collection Europe requirements.

European Debt Recovery Options

Just like in the UK, there are many different options that you can choose from for Debt Collection Europe.

It is imperative that you choose the right option, as choosing the wrong one may end up costing you lots in time, resources and money.

For those untrained in the process of Debt Collection, the first thought may be that you want to abandon or try to collect the debt independently.

Both of these options should not even be considered, as they will only end up costing you more.

Collecting an International Debt by yourself will take you away from doing value-based tasks that will benefit you. An example of this is growing your business.

Furthermore, why should you abandon a debt and let your debtor get away with keeping money that is rightfully yours?

None of these options is viable for the sustainability of your business and your cash flow.

Another method for Debt Collection Europe that is common, yet outdated, is by using Solicitors.

Historically, this has been an effective way of recovering debts but is notorious for ending up at a large cost.

These costs can range depending on the company you use; however, some have been known to charge up to £200 per hour.

Solicitors are also widely known for taking a long time to recover debts.

They may also add fees on top due to the location of the debt and the different laws and regulations to adjust to overseas.

The disadvantages that come from the use of Solicitors will inevitably cost you more in resources and money.

This will leave only one option left, which is to use the services of a professional International Debt Collection agency.

Debt Collection Europe – Why Should You Use A Debt Collection Agency

If you are suffering from problem debtors that are based overseas, you need to use the experts.

At FM International, we can provide you or your business with an industry-leading solution to your problems.

Using a trained and trusted agency for Debt Collection Europe will ensure all bases are covered in the recovery process.

Not only does this save you from wasting your own valuable resources, but this method is also the most cost-effective.

Our team of overseas collectors are trained to combat the various challenges that international debts can bring.

The process of recovery is professional, ensuring the relationship with your client is not jeopardised. A calm recovery process will enable you to continue with any future working opportunities.

Some of the many benefits of using us for Debt Collection Europe includes:

• High recovery rates and low commission rates.
• Transparent, fixed fee service.
• No hidden costs or price structure.
• Offices all over the world, allowing us to provide a truly worldwide service.
• Members of the Credit Services Association, Federation of European National Collection Associations & ACA.

If you need Debt Collection Europe, do not hesitate to speak to a member of our New Business Team on 01695 554 550 or email info@fm-international.co.uk

Debt Collection Europe – Frequently Asked Questions