Foreign debt collection
Thanks to our international debt collection network, we can collect debts from buyers all over the world
FOUR REASONS TO USE FOREIGN DEBT COLLECTION SERVICE:
- our own international network of offices
- quick information flow – IT system networking all Coface debt collection offices and an instant access to databases others Coface business information providers.
- full-scale foreign debt collection service
- having a direct contact with a person carrying out your case
Foreign debt collection is a lot more difficult as each case being one of a kind and bring in many formal and legal obstacles. Knowing local law is a must.
Our experts in 66 offices around the world are ready to recover your money wherever it may be. The integrated operational system and procedures make the recovery very smooth and effective.
Standardized procedures are there to reduce documentation flow at the initial stage of the proceedings saving time (the case is transferred to the right office on the day of registry in Poland) and guaranteeing standards and safety.
Debt collection trouble – a case study
A Polish company exporting furniture to Germany has been trying to recover their overdue receivables from one of the German buyers. The lack of knowledge of the German law makes it difficult to complete the recovery and on top of that there was no reaction from the buyer.
The company turned to Coface to help recover the money. Polish debt collector contacted the German office immediately ordering the recovery for Polish client. German debt collectors contacted the buyer who seemed to have temporary liquidity problems and avoided the contact, but planned to repay all his dues and agreed to spread the payment over 5 weeks in lumps each paid ones a week. Once the payment was made, the business resumed and now the buyer pays the invoices on time.