Debt Recovery and Receivables Management of ReClaims International

In this area, we can benefit from years of experiences in Europe and the Credit Industry world-wide. Our services offered in this region are therefore also very extensive, ranging from investigations concerning location of a debtor, asset tracing and recovery, credit reporting, up to a judicial support for a legal recovery when this turns to be the last chance to collect a certain debt.

Based on the experience that ReClaims International has achieved through years in practice in the field of debt collecting procedures, ReClaims International can offer to its clients qualified services related to delayed payments or doubtful receivables at very acceptable rates. We may advertise ourselves to be able to recover debts in other countries such as Romania, Bulgaria, Turkey, Greece, Russia and Europe as well as in countries where there is a substantial political risk or where delayed payments are part of the local business practice.

Besides, as a part of this service, we may offer to your clients the following:

Locating of a lost debtor
Solvability and property value investigation, taxation and expertise of the current business standing
Complete research and investigation services

Amicable Settlement

A debt collection procedure consists roughly of two sections. The first is an amicable settlement, which involves locating and investigating the debtor or contacting him to try to reach an agreement in an informal way. The following information gives an idea about the operating procedure of the so-called AMICABLE SETTLEMENT:

After the debt collection solicitors and credit managers have studied the evidence, a contact is made with the debtor to try to reach an agreement in an informal way. Our policy is No-Cure-No-Pay basis with a suitable rate. At the same time the creditor is requested for a power-of-attorney only if necessary during the legal procedure. However, out of the court the solicitor is also more influential with a power-of-attorney or any written authorization in hand. In case the address of a debtor is unknown, it can be found through an investigation. In this investigation a solvency investigation is included automatically.

In many cases the debtor proposes a payment agreement after the informal contact. The solicitor requests the debtor to put the proposal in writing. Next, the payment agreement is submitted to the creditor. If the creditor accepts the proposal, an agreement is made (possibly in instalments). It is sometimes necessary to start a legal procedure to ensure that the debtor abides by his agreement; if the proposal of the debtor is unacceptable for the creditor, the collection procedure continues.

To make sure whether a legal procedure will be successful, it is advisable to undertake a feasibility study. Therefore, in order to determine the chances of a successful legal procedure, the creditor is advised to have a solvency investigation carried out. Perhaps the debtor is, for financial reasons, not able to pay off his debt, or he might have practiced fraud, by which it is impossible to prove his financial obligations. The results of the investigation are outlined in a report describing the chances of success, combined with the advice to the creditor. This report makes it clear to the creditor whether or not a legal procedure will be successful for certain, or the case ought to be closed.

Legal Recovery

Our experienced debt collection solicitors and credit managers have been proven right to call an expert on “what to do when debt collection does not bring in the money”. No matter how successful and experienced the team of the debt collectors may be, at the end of the day it’s all up to your debtor to pay.

Legal Recovery comes in where further steps need to be taken. ReClaims International holds experienced solicitors as well as an abroad network of independent debt collection partners throughout Europe including Turkey and Eastern European Countries. Together we provide fast, efficient and, above all, a result.

Debt Collection Management throughout an Insolvency Procedure

In the event that your debtor is in danger of being declared insolvent, or has been declared as insolvent, it will be no longer possible to come to a settlement with a suitable solution. Basically, it is important to restrict your losses by taking the correct and preventive measures as quickly as possible.

Debt Collection management throughout an insolvency procedure not only offers advice as to what precautions and necessary measures can be taken, it carries them out for you as well. It may be of vital importance to act extremely rapidly when it is needed to receive back goods already delivered by your company to the debtor. That is why ReClaims International is able to act within 24 hours of being notified.

Reclaiming goods: Getting back goods delivered by your company which have not been paid for (ensure the clause on reserved rights of ownership is included in your terms of delivery).
Insolvency filings: Arranging possible insolvency petitions and attachments thereto with regards to insolvency procedures.
Valuation & storage: Valuing and storage of the attached goods — with the option of private sale via our extensive sales apparatus.
Auctions: Taking care of all facets of the auctioning of goods, machines and/or real estate.

At ReClaims International, we aim to find a resolution through negotiation and understanding. Our goal is to help you get back on track.