Should I Get Experts Involved to Recover Unpaid Trade Invoice?

Have you ever given full trust to a buyer and shipped a container full of product, and the buyer stops responding?

Let’s face it, collecting debts from clients in arrears can be a painful process and thus many shippers prefer not to dedicate resources to debt collection. However, failing to collect debts can harm the commercial relationship between shippers and the buyers as much as the debt collection process itself. 

What is the Solution? It is simple, hire a debt collection lawyer. While this solution may be counterintuitive on the face it, it is actually one of the easiest ways to collect a debt.

So, why would you pay more money to collect the money your already owed?  

Here are 6 reasons why you might consider hiring a debt collection lawyer:

 1. Improve Collection Rates

Working with someone who is solely focused on collecting debt will help you improve your collection rates. Debt Collection lawyers have extensive training and can get the job done without upsetting the customers in the process.

2. Increase Cash Flow

Let’s be honest, every time you do not get paid, it hurts your pocketbook.  The more debt that are successfully will see the company get more additional revenue.

3. Focus on Core Business

Debt collection is an extremely labor-intensive process. Having someone working on the issue independently allows you to keep focusing on your business, while making money without dedicating resources to the process.

4. Rules and Regulations

There are many regulations and rules that must be followed by anyone attempting to collect an outstanding debt. Finding a quality company means you don’t lose money by not following rules.

5. Preserve the Existing Customer Relationship

The longer the debt drags on the more the relationship will deteriorate between the shipper and their customers. By passing off the interaction with the customer, many shipping companies are finding that they are able to salvage a relationship that would otherwise be ruined.

6. The Price is Right

While lawyers have a reputation for being expensive, here at Recoupex our streamlined, customer focused approach allows us to offer you the best results at the best price. We offer contingency payment, which means you do not pay until we get you your money back in full.

Lawyers have proven particularly effectively in negotiating effective settlements. Nothing makes a debtor more aware that things have gotten serious when they receive a call from your lawyer. And should this not be sufficient, a lawyer is the only one qualified to guide you through the litigation process. When going through litigation you stand to be able to collect more, as you can charge the opposing party for pecuniary and legal costs.

The debt collection process is long and difficult and fraught with problems. Having a lawyer to guide you through the process, helps you focus on your business, while your money is collected by an expert. Contact Recoupex today to talk about your options.

Recoupex is a hub of transport lawyers – experts in cargo claims. We assess your case quickly. We have successfully recovered claims from Maersk, Sealand, Hapag-Lloyd, Mediterranean Shipping Company – MSC, CMA CGM, and other carriers.

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