International Debt Collection

International Debt Collection (25)

Tuesday, 15 August 2017 06:00

Nerd Block Suppliers Set for Big Losses

Written by Adam Home

Reports that Canadian subscription box supplier Nerd Block has gone to the wall is bad news for an army of suppliers waiting on months of unpaid invoices.

Subscription boxes are big business, and the market is growing by the day. With the success of major brands such as Loot Crate charging £20 or more for a monthly box of goodies delivered to your door, similar companies have sprung up around the world.

A fine example of how not to carry out debt collection appeared in Singapore newspapers this week after three men were jailed for their part in a farcical incident.

Andra Chew Keng Leng, 40, Lim Boon Tiong, 43, and David Tan, 37, all employees of a debt recovery firm called Double Ace Associates, were sent with three colleagues to collect a debt from a food stall owner at Singapore’s Funan Digitalife Mall.

Monday, 03 April 2017 13:49

The Strange Case of North Korea’s Stolen Volvos

Written by Adam Home

In the current political climate, you can hardly move for hearing talk about borders, trade agreements, slamming shut doors and opening the windows of opportunity.

But let’s face it, for many in business, such talk is a mere distraction. Money talks, and the world is just one big open market of opportunity. Wherever a deal can be done or an investment can be made, business will follow.

Friday, 27 January 2017 12:54

Vultures Circle Debtors in Ireland’s Courts

Written by Adam Home

Irish courts are experiencing sharp spike in the number of cases linked to international debt collection. A recent flurry of media coverage has brought attention to the operations of so-called ‘vulture funds’ as they apparently step up debt recovery in Ireland.

Vulture funds are financial organisations such as investment trusts, private equity firms and hedge funds which look for opportunities to make a profit from debt collection. They buy up debts at a discounted rate from organisations which no longer wish to be liable for them and then seek to recover more than they paid.

Monday, 09 January 2017 15:33

Desperate Australian Firms Turning to Biker Gangs For Debt Collection

Written by Adam Home

The scourge of unpaid invoices threatening the survival of small and medium sized businesses is an international problem. In Australia, things have got so bad that some companies are turning to desperate debt collection methods to try to recover money owed to them.

As a new report revealed that the average Australian business is typically owed £23,000 in outstanding invoices, one industry spokesman suggested hard pressed firms are ready to return to an old and infamous solution - biker gangs.

Friday, 04 November 2016 14:18

Many Rio olympics invoices unpaid despite promises

Written by Adam Home

They call it the greatest show on Earth. With 11,000 athletes from 207 countries taking part in 306 events, the 2016 Rio Olympics did not disappoint in terms of size, delivering a mammoth festival of sport unrivalled by anything else on the planet. But with mammoth size comes mammoth challenge, namely the gigantic task of organising and running the show. Staging the greatest show on Earth demands one of the biggest logistical operations - and a truly global effort.

Wednesday, 07 September 2016 13:09

Export Debt Collection in France

Written by Adam Home

If a French client owes you money, you can apply a certain amount of pressure to encourage payment, and many clients will pay up eventually. But in some cases, you’ll need to instruct a lawyer in France to collect the money you’re owed.

Debt collection in France is a slightly different procedure, compared to debt collection in the UK. This blog provides a rough guide to your options and the types of court action you could bring.

French courts will uphold court judgements made in other parts of the EU and, in some cases, outside the EU as well. For the purposes of this article, we are referring only to court action taking place in France against clients who live and work there.

Wednesday, 10 February 2016 10:31

Top Tips for dealing with overseas export clients

Written by Adam Home

When you work with a company in the same country, you have a common legal framework that links you and its a relatively simple process to track down errant debtors if payment problems occur. Dealing with clients overseas is more hazardous, and the risks can catch out many small businesses. Here are some practical tips that can prevent significant problems when dealing with overseas clients.

Wednesday, 01 July 2015 10:48

Credit Control Update - Greek Capital Controls

Written by Adam Home

Greece's government has imposed capital controls and closed banks until after a July 5 referendum on a deal with European creditors.

The following information is provided for any company concerned about customers based in Greece and the impact the capital controls will have on their cashflow in the short term.  This guide covers basic credit control information, if you have customers already behind on payment arrangements allowing further credit is at best ill-advised.

Wednesday, 15 October 2014 10:10

Half of unpaid invoices become bad debts in the Americas

Written by Adam Home

If you deal with customers in the Americas - including not just the USA, but also Canada, Mexico and Brazil - you should be aware of the increased likelihood of a very late payment becoming an uncollectable bad debt.

According to a report from credit insurers Atradius, a whopping 52% of the most overdue payments in the region are simply never collected, compared with 35% in Europe.

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