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Debt Collection FAQs - Euler Hermes Collections UK |
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Debt Collection FAQs
If you're looking for more advice about Euler Hermes Collections UK's debt collection services, consult our debt collection FAQs.
Our FAQs aim to help you find out the information you need about our debt collection services. Whether you'd like a greater understanding of our debt collection charges or you want to know more about how our international debt collection accounts are handled, our debt collection FAQs can help.
Browsing our debt collection FAQs
Simply scroll down to view our debt collection FAQs. If your particular question isn't covered by our FAQs, you'll be able to send an enquiry to Euler Hermes Collections UK by completing a short form.
So whatever you want to find out about Euler Hermes Collections UK's debt collection services, our FAQs feature will provide assistance.
1. What type of service does Euler Hermes Collections UK offer?
A full UK and International overdue account collection service. We also offer a UK and International Tracing service to locate 'gone away' debtors or customers and a Terms & Conditions Review service. Euler Hermes UK Plc offers a full domestic and export credit insurance service.
2. Do you collect accounts from individuals?
No. The exception is if the individual is a sole trader and the debt relates to their business.
3. What information do you need to collect a debt?
We must have full name and address, telephone and fax numbers, amount outstanding and dates of invoices. We would also like to have copies of any relevant letters, invoices/statements, notes of conversations and any other information relating to the history of the debt.
4. What do you do to collect an account?
A combination of letters, faxes and telephone calls. There is no fixed procedure as each debt is different, however, more emphasis is normally placed on telephone collection as this proves more effective.
5. How long does it take to collect an account?
It can be from as little as 24 hours, although the majority are collected, passed for legal action or closed within six weeks.
6. What is your collect performance?
A difficult question to answer as it all depends on the quality of the debt received. We do have customers where we collect everything but others where we have collected nothing. Thankfully we don't have too many of the latter!
7. Do your charges for debts in the UK include litigation costs?
No. However you will be asked to pay a fixed legal fee plus Value Added Tax (VAT). We use solicitors who specialise in debt recovery litigation.
8. How much will legal action cost for international accounts?
As each country has it own legal system it is difficult to say. However we will always provide you with an estimate of costs before proceeding.
9. Are there any accounts you will not accept for collection?
Yes, the following:
- Any accounts where legal action has already taken place.
- Debts over two years old.
- Any accounts that have gone into liquidation/receivership.
- From any countries at war.
- If there are some currency restrictions.
- From individuals.
10. How much do you charge for collection?
That depends on where you are located, where your debt is and how much your debt is. Please either contact us for an instant quote or view the costings information on-line. |
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