Dealing with overseas clients can open up considerable opportunities to a business, but with them come new risks. Getting invoices paid by a foreign business can prove difficult, often requiring a different approach. The overseas debtor may use local law, foreign language and even local customs as excuses to delay payment. Engaging an overseas law firm to collect the debt can prove expensive with a high risk of throwing good money after bad.
Using an international debt recovery service to work on a No Win, No Fee basis gives businesses the ability to increase international sales whilst minimising risk. Whereas a law firm will do little more than send a formal letter before action prior to suggesting legal proceedings, an international debt collection agency will engage in discussions with the overseas debtor in an effective manner to understand and remove barriers to payment.
Trust the debt recovery professionals
Sterling Debt Recovery is a truly international business, owned and managed by UK professionals with our service centre in Krakow, the finance outsourcing centre of Europe. Whilst we work on behalf of global businesses on a daily basis, collecting unpaid invoices worldwide in every continent and language, we also collect as and when required for smaller clients who may refer only a few international debts to us each year. Sterling have been collecting international debts since our formation in 2006. The fact that our first clients and staff are still with us today is testament to the quality of our service.
How our international debt collectors operate
Our international debt collection service works on a commission only basis and is suitable for all sizes of company and debt. Our tried and tested methods resolve barriers to payment quickly, in most cases persuading the foreign debtor to resolve the matter without the need for overseas legal action. Our international debt collection process has a secondary advantage as it also allows us to collect useful information relating to the foreign debtor, so that we understand the reasons for non-payment of the overseas debt and the financial status of the debtor.
If we find that the foreign debt is not collectable without litigation, then the information we gather allows us to establish the most suitable procedure for legal action and enforcement, and to understand whether or not such action is likely to be successful and profitable for our client. We will discuss the details with our customer, and whilst we provide advice and make recommendations it is our client’s decision as to whether to proceed to debt litigation. In many cases we have saved our customer from significant loss where legal action would have resulted in a successful judgement which would never be paid.
International debt collection expertise
Sterling employ multilingual debt collection staff, most of whom have graduated from working in our credit control service. We work closely with a lawyer based in our office, working alongside our international debt collection team. Originally from the UK, our lawyer is qualified to practice both English and Polish law, and has unique skill sets and insight which prove extremely effective in persuading overseas debtors to resolve matters prior to litigation. We often use our solicitor in the background early in the process particularly where there is a technical dispute. This allows us to resolve the dispute without prompting the foreign debtor to engage a lawyer.
Feet on the ground to assist with overseas debts
In most cases we provide the full overseas debt collection process in house. In some cases however local expertise or feet on the ground are essential. Sterling have developed a network of trusted partners who we can call on when necessary. This gives our customer the best of both worlds, a trusted one-stop-shop service provider able to provide advice and carry out the majority of cross border debt collection work in house, and local expertise managed by Sterling when needed.