International debt collection
- International debt collection against foreign debtors.
- Risk-free. Pay only if we succeed.
Get paid quickly and easily from foreign debtors!
Do you need help with international debt collection to collect a commercial debt? Are you looking for a collection agency? Oddcoll is a global debt collection platform that can help you with international collection no matter where your customers are located. Read on to learn more about international debt collection and how we can help you!
Get paid for your foreign invoices in three easy steps!
Upload your commercial debt to our international debt collection platform.
Our national debt collection agency or law firm in your debtor’s country will start collecting your commercial debt immediately.
Once your international debt is paid, the money is transferred to you.
This is our approach to foreign debt recovery
Foreign debt collection with experts on site throughout the world.
Risk-free foreign debt collection. You only pay if we succeed in collecting the money.
International collection in foreign countries is only effective on the debtors own language.
Start and manage your cases easily and quickly on our debt collection portal.
An international debt collection agnency for commercial debt.
Efficient debt collection is carried out where the debtor is located. It’s that simple.
Oddcoll is an international collection agency that offers international collection to companies that have sales to customers abroad.
Rules, laws, the legal system and business practices on how to collect debts, differ from country to country and it is the debtor’s country that sets the rules on how an invoice is collected.
Because of this, many companies with an international customer base sometimes find it difficult to persuade their customers abroad to pay.
The solution is that oddcoll has created an easy-to-use platform for the collection of international debts.
We have brought together the best national debt collection agencies and law firms around the world. Prices are fixed and you just simply need to upload your unpaid invoices to our platform to put our national experts to work.
The basics of international Debt Recovery
What is International debt collection?
International debt recovery has to do with the recovery of cross-border, non-contested claims. For companies, it involves collecting invoices that are overdue against foreign customers.
There are three phases in international debt collections:
“Amicable” international debt collection, A creditor or a Debt Collector tries to persuade a debtor to pay his debt without resorting to legal action.
The judicial phase, Where the creditor decides to institute legal action for recovery of debt.
Enforcement if there is a need to enforce a judgment.
(Insolvency proceedings can also be relevant when the debtor is in default.)
International debt collection laws
What are the laws and rules for international debt collection?
Many creditors with debtors in different countries often find it tricky to know what rules to follow when collecting debts abroad.
First of all. There are no such thing as International debt recovery laws.
Rules and laws that apply to amicable collection are always regulated at a national level.
Just like other procedural rules. As to sue someone in court, or to enforce a judgment.
So which country’s laws apply?
For debt collection, the laws of the country where the debtor is located are applied.
In other words, if you must collect a claim against a debtor in Sweden, Swedish laws apply.
Two main features can be distinguished in most countries.
- Authorization is almost always needed for third-party collection agencies, to protect debtors from unscrupulous companies and prohibited practices.
- There are rules regulating certain actions to protect debtors. For instance, collection agencies cannot contact their debtors at odd times of the day. Debt collectors are also not allowed to threaten to institute legal actions against debtors if their claim lacks legal basis.
To sum it up.
- There are no laws for international debt collection.
- The rules for collection in your debtor`s country are applicable.
- Most likely, permission is required for debt collection activities against debtors in that specific country.
- There are most likely rules on how the debtor must be treated.
The international debt recovery procedure.
The amicable phase.
The Law Firm or Debt Collection Agency first employs voluntary tactics to recover the claim. Voluntary = without instituting legal action.
The debtor is informed about the claim by the debt collector who also informs him that judicial action is an option if there’s non-payment. This has a huge impact on the debtor’s desire to pay back.
The judicial phase.
Legal actions are usually instituted in the country of the debtor.
Most countries have simplified judicial procedures to regulate uncontested claims if there’s need for a creditor to institute any legal action.
There’s a court procedure known as “Payment Order” used to settle uncontested monetary claims in most countries. This procedure makes things cheaper and faster compared to the normal proceedings. Apart from the creditors, this is also great for national courts as it reduces their workload.
If the creditor receives a verdict, then the judgment obtained from the court is proof that there’s a legal claim.
“Jurisdiction” has to do with the country where the litigation is to be instituted where parties reside in different countries. Such questions must be tackled in each case.
However, the rule of thumb for commercial disputes is that the country of the debtor will have jurisdiction if the parties fail to agree on jurisdiction. The implication of this is that, these debt collection cases will be instituted in the debtor’s country.
Enforcing International Claims (post-court action)
If the debtor fails to pay after judgment, the next step is to apply for enforcement.
Every country has its own enforcement authority that can recover assets from debtors if they fail to pay up willingly.
You can only apply for enforcement from the country where your debtor’s assets are located because enforcement authorities cannot carry out enforcement in another country.
As a rule, before you apply for enforcement, you must have a judgment-verdict (enforcement order) from the country where you’re applying for enforcement.
To enforce a foreign judgment in a country, there must be an international agreement to that effect and the country must have acceded to it. Fortunately, these laws and agreements exist to facilitate free movement including cross-border interactions and trade.
When engaging third parties.
Debtor or creditor’s country?
Ensure that your choice of international collection agency has local coverage in whichever country the creditor resides.
It is easier to recover your debt through a local debt collector who has knowledge of the local procedural laws, business culture, recovery practices and who speaks the language of your debtor.
This also makes it easier for you to comply with the rules and laws regulating debt collection in the nation.
Are you in need of International Debt Collection services? Oddcoll can help you collect commercial debt from your customers abroad. Get started today by setting up an account and uploading your unpaid invoices. If you have any questions, please fill in the form on the right.
See how easy it is to get started with your case!