Debt collection

What is debt collection?

Trade debt collection is the collecting of overdue payments from businesses that have failed to pay the amount they owe for goods or services provided.

A reliable third party debt collection agency is a common business practice when resolving late payments. Debt collection can be difficult, especially in overseas markets; it's always best to act quickly and with the help of trained and experienced collectors.

Our debt collection services can only be used if you have a credit insurance.

 

How does debt collection work?

 

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Time is critical

The sooner we receive your debt details, the quicker we can take actions. We make every effort to collect your overdue accounts pre-legally. However should the debt remain unpaid after amicable efforts are exhausted, legal action may be needed.

If legal action does become necessary, we can offer advice and competitive legal fees from an initial review through to judgment and enforcement. We inform you of all costs up-front and only take action with your agreement.

Our solutions

National debt collection

Our debt collection procedure is build upon actions centered around receiving the payments, this by using a series of escalating letters, telephone conversations, e-mails and (in some markets) visits. We can offer tracking services for debtors that have moved to another adress or that are unreachable. It is our goal to collect the debt by amicable means. Sometimes however it is necessary for our customers to use juridical procedures, we can advize you and take actions in such cases.

 

International debt collection

Due to time zones, locations and language barrieres, it can be very tricky to receive payments from international debtors. Euler Hermes removes your worries with our integrated World Collection Network of offices and external providers, we are active in over 130 countries.

Your invoices are processed by our World Collection Network and is cashed in by your local office. Our procedure is the same as for national debt collection.

 

Juridical procedures

Euler Hermes Collections always aims to collect in amicable fashion. However if you wish to continue with juridical procedures, we can take care of the entire procedure, from the first advise to the jurists decision. Before we take action we will inform you of the costs and will advise you according to the costs and chances to win the case. The costs and the timespan of juridical procedures are different for each country.

Back -up service

The Euler Hermes Collections Back up Service offers peace of mind and security to financiers that extend loans for the securization of market transactions. When a customer is declared insolvent and there are complications, the financiers usually only receive a small part of their payments back.

With the Euler Hermes Collections Back up Service we can cover this risk. This unique solution guarantees that in case of a breach in contract actions are immediately taken. Within 24 hours Euler Hermes sends letters previously agreed upon to inform the customers of the debtors, (in their own language) that the ownership of the payment rest with the financier. This writing is followed by telephone conversations. Our worldwide debt collection solutions will take care of the rest. We use both international and juridical procedures.

As part of the Back up Service, portfolio information are exchanged regularly. Euler Hermes Collections checks all the important details and keep the financier up-to-date about the status of their customers and debtors. On regular moments tests are being done to make sure that Euler Hermes is always ready in case of a breach of contract.

The Euler Hermes Collections Back up Service serves as a safety net to support loans.
Our possibility to react directly in different markets makes this solution unique.

 

Debt collection app

Land of payment

What you can do with our APP?

  • Read & learn about the collection practices across the globe in our Collection Profiles.

  • Discover the EH Collections Complexity ratings.

  • Find out more about Euler Hermes Collections and the World Collection Network.

  • Manage your personal library allowing offline reading.

  • Browse and search by keyword, country and topic.

  • Receive notifications when new content is published.

 

 

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