When it comes to international debt collection, the right course of action for the businesses is to hire an agency that has experience of running such operations. Whether the client requires complete sales ledger control or collection of a one off debt, they would be able to deliver.

International Debt Collection is a complicated task, which explains why most businesses prefer hiring the collecting agencies. Once the debtors settle across the borders, it becomes really hard for the companies to trace them. Even when they do, it is challenging to pursue them and coax or persuade them to pay. Many think that they are beyond the reach of the creditors once they settle abroad, which creates false confidence in them about the immunity.

Some problems companies usually face are –

Understanding the laws of the land where the debtor is located

Dealing with debtors or collection agencies in multiple countries across several time zones

Communicating in the language of the debtor

Finding a reliable and cost-effective lawyer in the debtor's jurisdiction

Consolidating all international debt collection endeavours into a single, efficient operation

The right course of action for the companies in such a scenario is to hire an international debt collection agency having a robust track record of running such operations in several countries. Such agencies are well-versed with every aspect of debt collection, which enables them to take the cases to their logical conclusion.

They should look for a company that provides them with prompt, professional and ethical international debt collection and recovery. The collection agency must have the skills to recover the debts quickly and efficiently, enabling the client to focus on other core tasks. Whether the client is looking for complete sales ledger control or collection of a one off debt, they should be willing to provide the service.

Information collectors require to begin the process are full name and address, email addresses, telephone and fax numbers, outstanding amount and dates of invoices. They would also require any relevant documents such as copies of correspondence, notes of conversations, etc.

A top-of-the-line agency will take away the stress associated with debt collection. Leveraging their experience and techniques, they can carry out the debt recovery with clinical efficiency. Their investigators use an extensive database to trace the debtor's new address and check if they have enough assets to pay the dues. With this knowledge, they are able to determine the right course of action for debt collection.

Tracing the debtors is the key part of the recovery operations. If required, the collection agency must be able to undertake in-depth traces to recover a large debt or for other commercial reasons. Using their network of specialised trace agents, they are able to provide reports about such debtors to the clients.

Companies must go for an agency that works on No Collection, No Fee basis. For certain non-responsive cases, they should be able to take appropriate legal action with urgency through their team of local lawyers. Their legal department would be handling all verification and documentation required to initiate proceedings. They can use the legal system efficiently to obtain optimum results.

Whether a business requires debt collection services in Germany, France, the UK, or any other country, multinational collection agencies would be able to deliver. Drawing upon their experience, they are able to offer ‘custom' services to clients.

First Collect International offers debt collection and debt recovery services in the UK as well as several other countries. They are a member of international associations such as CSA, ACA, IACC and LIC, that underlines their credibility in debt collection at a global level.