FAQS

There is no minimum or maximum debt amount required before you can refer a debt to a collection agency. However, the amount of the debt will help determine the best action required to facilitate recovery. A well-resourced and professional debt collection agency will be able to discuss the various options, and make recommendations based on the debt amount, the circumstances of the debtor and the costs involved.

There are a number of factors that determine how long it takes to collect a debt. These include:

• Cash flow and overall financial position of the debtor
• The debtors’ willingness to pay
• Is the debt in dispute, and the complexity of the dispute?
• The quality of your credit documentation
• The existence of Personal Guarantees
• If and when an address will be available, and possible contact data
• The legal frame in the country (absence of (affordable) court collection (in time and money) will make it difficult to collect
• The cooperation with client: is he responding fast or must he be reminded frequently
• The willingness of client to invest.

Referring the debt to a debt collection agency will reduce recovery timeframes, enhance recovery prospects and reduce the potential of a bad debt arising.

The cost will vary depending upon the size and nature of the debt, the age of the debt and if a dispute exists. A reputable debt collection agency will explain the costs that may be incurred before you refer the debt, so you are able to make an informed decision.

Usually, a debt collection agency will charge a commission for their services, however this is only payable upon the successful recovery of the debt or part thereof.

If legal action is required, then there will be additional costs involved. Here again, your collection agency will be able to explain the process, costs and timeframes involved so that you are fully informed before you decide to proceed. Legal action should never be commenced without your prior approval.

Yes, the team at EUREGEX have been assisting businesses throughout the globe for many years. EUREGEX’s customers include large and small businesses as well as Government organisations.

Talk to us about your particular circumstances and we will explain all your recovery options and costs associated with recovery of your debt. EUREGEX experts have to dive into your documents which might need translations and all communication needs to be translated back and forth. Identification and choice of the right partners (debt collector, lawyer, law firm, bailiff) all under the full expectation of strong European data protection regulations. Contracting and assigning and monitoring of the partners, monitoring of all steps. Reporting, if needed, initializing of enforcement rules. We are your “one-stop shopping” for all expenses and transfer of funds.

EUREGEX has invested in the very latest, purpose-built debt collection technology. Technology that is designed to give you a clear advantage when collecting your overdue debts.

If you would like to know more about EUREGEX’s services or simply need some advice on a particular debt, please give us a call on +92 3124704669 or email us at sales@euregex.eu.