As we covered in our last post on international debt recovery, we discussed a few of the obstacles you will encounter when attempting to recover a debt internationally, including understanding the laws and regulations of the many different countries and finding legal counsel within the jurisdiction of your debtor; both of which can be overcome by using an international collection attorney.
International Collections Attorneys – What you should know
Depending on your debt recovery needs and the client you are dealing with, a multitude of dispute resolution and debt recovery situations could arise. Using an International Collections Attorney will help equip you and your business should you find yourself dealing with international cases involving any form of litigation, including debt recovery, negotiation, and/or arbitration.
Because the focus is solving international disputes, international collection attorneys provide their own unique form of services. Experienced international collection attorneys have developed a thorough understanding of applicable international laws – such as the Foreign Sovereign Immunities Act – dispute resolution, policies and practices by working and dealing with parties throughout the world; including foreign entities, sovereign nations and international banks.
International Debt Collection Attorneys usually possess a database of contacts throughout the world allowing them to gather the necessary information on your debtor allowing them to deal with complex international claims, judgments or arbitral awards and locate and recover any hidden assets your foreign debtor might possess
International Collection Attorneys can also review contracts and work with business owners to include provisions in their contracts that will allow their clients to collect attorney͛s fees and the interest owed on the debt in the event of non-payment. They can swiftly file litigation if necessary severing the very best chance in recovery monies you thought were lost.
Locating reputable International Collection Attorneys can be difficult, though not impossible. A lengthy search on the internet, speaking with (interviewing) those law firms directly, checking their reputation with past and current clients, should produce the confidence you need in the right attorney for your international debt recovery job. Or, you could eliminate the headaches and time-consuming task of locating the right attorney for the job take and hire a Commercial Collections Agency that specializes in international debt recovery.
By hiring a Commercial Collections Agency that works with top International Collection Attorneys, you will be able to focus your energies on your business instead of spending valuable time and resources on collecting delinquent accounts, effectively embracing the 5 benefits we listed in our last post: Communication, Cost Effectiveness, Legal, Risk Reduction and Reputation
Note: At the Stevens-Lloyd Group, Inc., we only work with the very best International Collection Attorneys. Contact is today to learn more about the law firms we work with.