One of the many considerations when recovering money abroad is how to deal with debtors face-to-face. Recovering money you’re owed is always tough but, when your debtor vacates the country, securing payment can feel like a daunting task.
But you need not panic. With Cobra, if you’re owed money by a debtor living or hiding abroad, we can help.
We’re experts at overseas debt recovery so, with this in mind, here are a few things we always consider when recovering international debts.
- Cultural Approach to Debt
Alternative cultures take varying approaches to the payment for goods and services. Notwithstanding any lazy stereotypes, in the UK, for example, late payment is an on-going and increasingly problematic issue, whereas in other countries debt is seen as something more shameful.
That said, to mitigate any risk, we conduct forensic checks on both your debtor and the country they’re living in before exposing ourselves to another culture.
- Language Problems
Can’t speak the local language? Despite what you think, this predominantly has no bearing on us recovering a debt. English is the international language of the world and so it’s unlikely that we would ever encounter an environment in which nobody speaks English whatsoever.
However, in the unlikely event that nobody speaks English, it is fairly simple to enlist the help of a third-party mediator or a translator to assist the process.
- Local Law Enforcement
Sometimes there are rules that prevent certain debt recovery practices in international jurisdictions. That said, UK-based debt recovery agents such as us can act on your behalf where the local law permits to do so.
At Cobra, we are trusted by clients based everywhere from the USA to the UAE, delivering a professional service that works in tandem with local law enforcement.
- Face-to-Face Debt Recovery
Having a physical authority abroad can sometimes tip the balance in your favour when it comes to recovering a debt, whilst Cobra’s sheer presence, be it abroad or here in the UK, largely facilitates the recovery of your money.
At Cobra Financial Solutions, we work with a wide and global network of agents to deliver a worldwide, face-to-face debt recovery service for businesses and individuals alike.
- Trust the International Debt Recovery Specialists
If you’re owed money by a debtor living overseas, we can help.
As the world slowly begins to open up again, and with international travel becoming more accessible, more and more debtors may be looking to escape to the continent to avoid paying a debt.
That said, with a long list of clients who we’ve helped recover debts for from debtors living aboard, you can relax safe in the knowledge that when we leave the country on your behalf, your reputation and money is in safe hands.
Be it our specialist overseas team, global network or designated case manager, you can trust Cobra to get your money back, wherever your debtor may be hiding.
To discuss your case with a specialist member of the Cobra Financial Solutions team, contact us on 0151 526 4222.