A lot of people make the mistake of assuming that international debt recovery is a losing game, assuming that recovering a foreign debt is difficult and unlikely to be successful. Though it’s certainly more complex and there are obvious challenges, we go above and beyond to provide an unbeatable international debt recovery service.
Locating a Debtor
Locating a debtor who has disappeared can be difficult, even if you are trying to locate them within the same country. So, it’s easy to see how locating a debtor abroad can be incredibly difficult and troublesome, especially if they have purposely chosen another country to hide. Luckily, we are well resourced with a global network of agents, meaning that we can successfully recover debt internationally. If your debtor has disappeared in another country, we can use a range of tools and techniques to find them. Once we have located them, we work tirelessly to ensure that your money is recovered as soon as possible.
Local Laws
As varying countries have different legal systems and laws governing debt collection, it’s important for an international debt collection agency to be familiar with the local processes. Recovering debt from another country is rarely as straightforward as recovering debt from the UK, but it’s far from impossible. At Cobra Financial, we ensure that our team fully understands the ins and outs of pursuing a debtor who is residing abroad. We are aware of which avenues we can use, the tools available locally and how the debt recovery process changes depending on where the debtor is located.
Cross-Border Enforcement
A lot of countries have laws that make it difficult to enforce foreign judgements, which can make it hard to collect a debt from elsewhere. Even if you win a legal judgement in a foreign court, actually collecting the debt can be a difficult and time consuming process. At Cobra Financial, we continually work hard on international debt recovery cases to ensure that rulings are enforced, regardless of the borders involved. After all, you shouldn’t miss out on money that is owed to you, simply because your debtor has moved or fled abroad.
Transfer Regulations
There are a lot of regulations on international money transfers, and this can make it difficult to collect a debt from a foreign debtor. International money transfer regulations are complex and complicated, and they vary hugely depending on the countries involved. This can make it difficult to receive recovered funds, even if the debtor has agreed to pay them back to you. At Cobra Financial, we overcome this challenge by staying on top of transfer regulations.
Though there are challenges involved in international debt recovery, we are confident in our ability to pursue foreign debtors. To find out more about international debt recovery and collecting a debt from someone hiding abroad, get in touch with the Cobra Financial team.
