1 / 2

Why do you need a collection agency for international debt recovery?

If you arenu2019t facing difficulty with debt collection then you should join hands with a local collection agency that can speed up the recovery process.

idcc
Download Presentation

Why do you need a collection agency for international debt recovery?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Why do you need a collection agency for international debt recovery? If you aren’t facing difficulty with debt collection then you should join hands with a local collection agency that can speed up the recovery process. Debt is a part of the business process but it shouldn’t become stagnant. You allow your clients to take time in making payments but you must get what is yours on time. And you shouldn’t mind taking the help of an international debt collection agency if you are unable to collect your debt. Things you can do for debt collection 1. List of debtors Prepare a list of debtors with details of each debtor to follow. The list should have the names of every debtor with the amount he owes and the reasons given for delayed payment. Also, you should mention the times when the debtor was reminded of payments. 2. Follow Up Follow the debtors listed and convince them to make their payments on time. Here you will need a dedicated team to follow the debtors. They could turn their phones off or disconnect whenever you call. Also, they could take legal help to save their money. And there are more chances of these things happening if it is international debt recovery. Recovering debt from international clients is a hassle if you don’t have a recovery agent in the country where your debtors reside. It is better to hire a local recovery agent that can approach your debtors and pursue them to make timely payments. It is better to pay a small amount as a recovery fee to an agent instead of losing your debt. 3. Legal action If a debtor denies giving payment or threatens to take legal action, you should also be ready to take legal help. For debt collection, you will need a dedicated team of collection agents and lawyers that can take swift action the moment a debtor backtracks from his promise of timely

  2. payment. Here an international debt collection agency can provide real help. Advantages of a collection agent 1. Pay as you get Yes, you will pay a fixed charge for debt recovery but the charge will be levied only when recovery is done. If the agent fails to recover any amount, he won’t ask for any fee. In other words, you will get a return on the investment. 2. Increased chances of recovery Since your collection agent is local, he will have easy access to your debtors. He can build pressure on the debtors so they start paying the debt. Also, the collection agent will work harder to speed up your international debt recovery and to increase its profit. 3. Legal help A debt collection agency is a team of collection agents and lawyers. And the team works together. First, the field agents approach the debtors and when the debtor refuses to oblige, the lawyers swing into action. The debtors are asked to pay according to law after which they are left with no option other than to pay. 4. Reliability You can rely on an international debt collection agency instead of your in-house team of collection agents. Your in-house team could fail to locate a missing debtor but a collection agent can trace him with the skiptracing process.

More Related