Skip to content

International Debt Collection Solutions for Business

For most companies, collecting monies owed by customers or clients can be difficult – often costing business owners more (in both time and money) than the amount owed and it can be tempting to just let things slide and write off the debt, vowing not to deal with said customer or client in the future.  Nowadays we’re living in a global economy and the Internet and subsequent progress in technology means that many business owners here in the UK are reaping the benefits of reaching a much wider audience than has ever been possible.

 

This is great for British businesses as they vie to attract the attention of customers from all corners of the globe. 

However, when it comes to debt collection, making sure you get paid what your company is owed by customers and clients overseas can be a nightmare.  Domestic debt collection is challenging enough but international debt collection brings with it a whole new set of problems as you’re likely to be dealing with customers in countries who have different legal systems and legislation in place and finding your way around can be like walking through a minefield.

This is where international debt collection agencies come into the picture.  The global economy calls for global solutions and there are now debt collection services which can help to pursue monies owed to your company by overseas customers, saving you the time and the hassle so that you can concentrate on what you do best – managing your business.  International laws are complicated and court judgements made here in the UK may not be upheld in other countries where different rules and regulations apply.

International debt collection agencies have the expertise and experience necessary to go to bat for your business when it comes to seeking payment from overseas customers.  They will have the knowledge necessary to find their way through the morass of legal technicalities and difficulties that would be off-putting to even the most savvy business owner. 

While you may find it difficult to even contact a customers in a foreign country, an international collection agencies will have a network of contacts that can be used to secure payment from defaulters abroad.  They will also negotiate the exchange rates on foreign currencies (which fluctuate from day to day) in order to secure an accurate payment for your business.  If the exchange rate has changed radically since the date that payment is due, an international debt collection service will ensure that there’s a relevant adjustment made on the amount owed to you.

If you need to engage the services of an international credit collection agency for your business, then make sure that you choose a provider that specialises in overseas work – you have much more chance of a successful outcome if you do.  It’s also a good idea to look for an international collections agency that operates on a no win, no fee basis so that you don’t end up wasting money on a solution that never materialises.