These are actions that you, as an exporter, supplier or manufacturer can take yourself when an invoice is due, before seeking professional services.
Remember to act IMMEDIATELY when the invoice is due! Do Not Delay!
The usual 3 reasons for a person not paying are, “forgot to pay”, “cannot pay” or “refuse to pay”. In the following steps we will tell you how to handle each scenario.
Forgot to Pay: Obviously, to maintain good working relationships, you would want to give the debtor a chance to pay such as time extension of few more days.
Cannot Pay: Perhaps you should consider a payment plan or give a discounted price or agree on barter option.
Refuse to Pay: If the customer refuses to pay, you may want to initiate legal action immediately. If the customer is simply ignoring your requests for settlement, appointing a third party service provider may put some pressure on the debtor to settle.
So what to do if, despite your efforts, the debtor still won’t pay?
Then it’s time for you to hire third party service providers who are active in the country where your debtor is located!
Upon receiving your documentation (copy of invoice due, last correspondence with debtor, and last known contact details of debtor) a legal demand is issued within 24 hours.
With our global network of attorneys, we are able to act worldwide and conduct a full asset and liability investigation of your debtor.
You receive a report from our attorneys with an update on your claim twice a month.
You will not be asked to pay any lawyer, court or other fees, and if we do not manage to collect your money, there is NO CHARGE to you.
Once we have recovered your money, we deduct our fee of 20% and pay the rest to you without any delay!