Can we carry out International Debt Recovery?
Yes. As well as regular debt recovery service, we also take our professional debt recovery services abroad. Our established international debt recovery section has continued to grow significantly, with the increasing volume of international work being done by our UK clients.
Our international debt recovery service is offered on a no win no fee basis, (excluding disbursements), at an agreed percentage rate depending on where your debtor is in the world and the age of the debt.
Chasing Debtors Abroad
As well as being able to successfully trace debtors in the UK, Spratt Endicott’s strong relationships with a number of tracing and enquiry agencies abroad also mean that they can help you trace debt that has been acquired abroad, with the client also receiving preferential rates.
The agents can also offer important employment searches and pre-suing checks which are in addition to the tracing services, meaning you are buying a full and thorough package.
How do we Recover Debt Abroad?
Recovering debts from abroad is often a little trickier than your average debt recovery as not only is the debtor in a different time zone but there are also different laws and customs to abide by. When looking to take on a business debt internationally, here are a few useful steps to ensure your success:
Seek Legal Advice
Seeking legal advice when pursuing a debtor is the most cost-effective way to handle things as you are likely to be pursuing a company in a country that has different laws and jurisdictions to us in the UK. A business must know how to properly and professionally handle any court proceedings against a debtor who is based overseas. Also, as with outsourcing any debt recovery, seeking assistance can mean that you as a business is focusing on business growth, rather than hiring more staff and getting into the complications of debt recovery.
Specify Jurisdiction
By specifying jurisdiction, you are controlling which country’s laws your contract will fall under and therefore which country’s courts can take legal action. Jurisdiction will show other businesses where you stand when it comes to your international agreements.
Recovery of UK Debts
If you are an exporter to the UK who has had issues with payments from a UK company, Spratt Endicott can also help you in recovering your debt. For all collections that are made by Spratt Endicott before the necessary legal proceedings commence, we will only take a small percentage of the amount recovered.
We operate worldwide through a network of agents who will carry out pre-legal collections, and overseas lawyers who will act for us, often on a contingency basis.
Getting in touch
To learn more about how our Commercial Debt Recovery service can help your business, please contact Richard Gwynne on 01295 404087 or email rgwynne@se-solicitors.co.uk
