Answers to Questions Regarding Collecting Debt from Mexico

When it comes to collecting debt from Mexico, and using the services of an International Collection Agency like Stephens-Lloyd Group, LLC, questions often arise. From the type of debt we collect from Mexico and the processes we use, to length of time it takes to recover the outstanding debt and what we need from you to take the necessary steps, we͛ve received…

When it comes to collecting debt from Mexico, and using the services of an International Collection Agency like Stephens-Lloyd Group, LLC, questions often arise. From the type of debt we collect from Mexico and the processes we use, to length of time it takes to recover the outstanding debt and what we need from you to take the necessary steps, we͛ve received and answered them all.

Below is a list of the most frequently asked questions (FAQs) our firm receives regarding collecting debt from Mexico.

Collecting Debt from Mexico FAQs

Why should I use a commercial collection agency like Stevns-Lloyd Group, LLC to collect my debt from Mexico?
Sadly, the increase of trade with Mexico since the 1990͛s has given rise to a culture of non-payment of contracts and debt creating more and more debt recovery cases from Mexico. Collecting debt from Mexico can be a complicated process. As with all international debt recovery efforts, it͛s important to understand the laws and procedures of Mexico when attempting to collect on a debt. Every country has their own set of rules and regulations when it comes to international debt collection making it difficult for someone outside of an International Collection Agency like Stevens-Lloyd Group to handle.

What type of debt from Mexico do you service?
When it comes to collecting debt from Mexico, we work with all kinds of, both commercial and personal that result from an act of trade between two individuals or companies including contracts, personal loans, bank loans, lines of credit, credit cards, invoices, and more.

What is the debt collection process when collecting debt from Mexico?
We begin by attempting to contact the debtor in his/her home or place of business, making all attempts to recover the debt through amicable methods. Should these efforts be exhausted, we will then proceed with legal actions employing the services of some of the top International Collection Attorneys.

How long does collecting debt from Mexico take?
When collecting debt from Mexico, if we are able to establish a payment arrangement with the debtor upon the first contact, times of recovery may be expedited quickly. However, should the debtor choose to ignore our first attempts at contact, prove difficult in locating, or oppose paying, negotiations can take several months if not longer. Which is why it is important to hand over your debt collection efforts to a commercial collection agency like Stevens Lloyd Group, LLC as soon as possible.

Do I need to provide Stevens Lloyd Group, LLC with Documents when attempting to collect a debt from Mexico?
Yes. In fact, it is essential. Without the proper documentation supporting the debt (Invoices, promissory notes, contracts, agreements, payment commitments, lines of communication, etc.) it will prove very difficult for us to act on your behalf when collecting debt from Mexico. Please take a moment to read through our post on collecting debt in Mexico: 5 things to consider, we cover this topic in more detail.

Are commercial collection agency fees legal for me to add to the balance of the debt?
Yes, if legal proceedings are necessary while collecting debt from Mexico and there is a ruling of payment where the judge orders the debtor to pay any and all ͞costs and expenses͟ incurred by the plaintiff.

Do you have a question regarding collecting debt from Mexico not answered above? Give the Stevens-Lloyd Group, LLC a call today Toll-Free: (888) 882-2282
If you are a business owner struggling with collecting debt from Mexico, a reputable collection agency can often help. Turning accounts over to an agency for collection may seem like signaling defeat or throwing in the towel to some collectors. Rather than take the defeatist attitude of ͞I can͛t collect this on my own,͟ take the attitude that collection is a team effort with you and your outside agency working together.

We invite you to give The Stevens-Lloyd Group, Inc. a try…
Place an account with us right now and see what we can do for you!

It͛s easy. Here͛s all you need to do:
Just fill out this convenient online placement sheet.
Once it͛s sent, you͛ll be on the road to discovering The Stevens-Lloyd Group, Inc. difference!

Collecting debt from mexico

Tagged on: debt collection mexio
Mitch Stevens August 22, 2017 debt collection mexico, international debt recovery

International Collection Attorneys

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…

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.

International Debt Recovery – An Essential Skill

International debt recovery is the process of collecting delinquent or outstanding accounts in countries that are outside the creditor’s country of operations.
In order for businesses to be able to conduct operations and compete in today͛s international market and still make a profit, international debt recovery is an essential skill for multi-national businesses…

International debt recovery is the process of collecting delinquent or outstanding accounts in countries that are outside the creditor͛s country of operations.

In order for businesses to be able to conduct operations and compete in today͛s international market and still make a profit, international debt recovery is an essential skill for multi-national businesses to employ in order to maintain cash flow and clear their books of delinquent accounts.

As with domestic debt recovery, international debt recovery needs to have protections put in place for breach of contract or default to reduce risk and clearly state the parties that are responsible for financial harm to others during these commercial activities.

Though similar to domestic debt recovery practices, International Debt Recovery can be one of the most complicated actions your business will ever engage in as transnational debt collection efforts require knowledge of the many different financial regulations and acts of the many different nations your business may operate in. Just a few of the obstacles business run into when attempting international debt recovery include:

  • Understanding the laws and regulations of the many different countries.
  • Finding Legal Counsel within the jurisdiction of your debtor.
  • Consolidating your collection efforts across multiple countries, time zones, and currencies.
  • The language barrier: Communicating/negotiating with the debtor in their native language

For this reason, it is always best to contact a commercial collection agency that has experience in international debt recovery. Collection agencies know whom to contact within their database of representatives that are familiar with the debt recovery practices governing different nations and international bodies. Benefits include:

  • Communication: Commercial debt Agencies often maintain multilingual representatives aiding them in communication and negotiation with your debtor in their native language.
  • Cost Effectiveness: Working with a commercial collection agency in regards to International Debt Recovery can reduce time-consuming costs business often run into when handling it internally
  • Legal: International Debt Recovery agencies are familiar with and are able to operate within the governing laws applicable to specific countries.
  • Risk Reduction: International Debt Recovery Agencies are experienced and highly qualified in transnational collection efforts allowing them to recover your debt faster while at the same time reducing your risk of unsuccessful debt collection.
  • Reputation: Since International collections agencies act on behalf of the original creditor focusing not only on the debt recovery but on preserving the reputation and brand of the creditor.

Hiring a commercial agency that specializes in International Debt Recovery definitely has its benefits. Creditors can focus their energies on their business instead of spending valuable time and resources on collecting delinquent accounts

Note: Using an International Collection Attorney for your International Debt Recovery needs is a smart choice that will often bring higher recovery rates than most international businesses are accustomed to. Click the following link to learn more about International Collection Attorneys and how they can help you International Debt Recovery efforts.