What is debt recovery?

Commercial debt recovery is the process of collecting on overdue invoices.

It is governed by legal process and is sensitive to the needs of business that may prefer to maintain positive ongoing relationships with debtor customers.

 

Atradius Collections is an experienced business debt collection agency. We operate with a worldwide team, so we are well-placed to support you should your customer be located in a foreign territory.

 

Process: Recover bad debt

In the first instance we always recommend amicable debt collection. Perhaps your customer simply needs a little more time to settle their bill or would benefit from a staged repayment plan. In our experience, catering to such needs can lead to stronger ongoing relationships between you and your customers.

 

Amicable debt collection

The best debt collection process begins with a telephone call. A friendly call is a great way to keep up a good relationship with your customer and, should they settle the invoice, an easy way to resolve the debt.

 

You can escalate the ‘friendly call’ with dunning letters. These are a series of written communications that remind your debtor to pay up. These are usually employed every week once an invoice has become due and, like the phone call, start off friendly and escalate in tone and demands. Dunning letters are subject to the laws of your debtor’s location. This is an area where Atradius Collections can support you.

 

Legal debt collection

Atradius Collections has many years experience in negotiating with liquidators and has access to legal networks including lawyers and enforcement officers. If you need to take legal action to recoup money owed to your business, our local team will be able to recommend how to proceed. The legal steps open to you will be dependent on the circumstances of the debt and your debtor’s jurisdiction.

 

Atradius commercial debt collection services

In addition to amicable and legal debt collection, Atradius Collections Hong Kong can support you with the following services:

 

First Party Collections – this custom-made solution is based on your business's needs helps you stay on top of cash flow with responsive invoice management.

 

Amicable Debt Collections - non-contentious solutions to help promote and retain positive working relationships with your customers.

 

Legal Collections – take action against your debtor, no matter where they are located in the world with our network of lawyers.

 

Insolvency Services – access guidance and support through both domestic and international claims processes.

 

Standby Servicing - aimed at financial institutions, this service monitors your portfolio and takes swift action when payment issues become apparent.

Related content

What is export credit insurance?

Export credit insurance operates in the same way as trade credit insurance and focuses specifically on trading relationships with customers based overseas.

What is political risk insurance?

In any trading environment, domestic or international, political decisions and situations can impact on businesses.

How much does credit insurance cost?

The price of a credit insurance policy can be shown as this equation: Percentage of turnover x Level of risk = Cost of policy. Costs vary from business to business and even between individuals.

Disclaimer

Each publication available on or from our websites, such as, but not limited to webpages, reports, articles, publications, tips and helpful content, trading briefs, infographics, videos (each a “Publication”) is provided for information purposes only and is not intended as a recommendation or advice as to particular transactions, investments or strategies in any way to any reader. Readers must make their own independent decisions, commercial or otherwise, regarding the information provided. While we have made every attempt to ensure that the information contained in any Publication has been obtained from reliable sources, Atradius is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in any Publication is provided ’as is’, with no guarantee of completeness, accuracy, timeliness or of the results obtained from its use, and without warranty of any kind, express or implied. In no event will Atradius, its related partnerships or corporations, or the partners, agents or employees thereof, be liable to you or anyone else for any decision made or action taken in reliance on the information in any Publication, or for any loss of opportunity, loss of profit, loss of production, loss of business or indirect losses, special or similar damages of any kind, even if advised of the possibility of such losses or damages.