How do I collect debt from a client and what is the most effective way to do so?
Late payments happen all too frequently and taking strategic steps, like utilizing Euler Hermes debt collection services, can help you collect debt from a client quickly. Your business is our business and we are here to help. Our debt collection practices help you maintain good customer relationships, get key information, and work with your customers no matter what part of the world they reside in. Learn more about our process by visiting our commercial debt collection services page.
Do I need to take on a debt collection agency if I have a trade credit insurance policy with Euler Hermes ?
No. When you take out a trade credit insurance policy with us you will be able to make use of our expert debt collection service. It operates worldwide, covering all sizes of debt.
What happens when Euler Hermes collects debts for me?
Collecting business debts is a step-by-step process that keeps costs under control and can be monitored continually. We start with telephone calls and letters to ensure our request is clear and use our name and reputation in the market. We can enter into negotiation with your customer(s) if you wish for us to do so. If none of those steps are successful, within an acceptable length of time, we can provide a legal service from judgment to enforcement action. We’ll discuss this with you before any action is taken.
How long does it take to collect the debt and when will I get paid?
It varies depending on the case and country. Economic, political and cultural reasons all affect customer behavior. We aim to make an agreement with the debtor as quickly as possible. We like to avoid taking legal action as it can lead to long delays. When you work with our collection teams they will discuss with you what to expect and give you an idea of how long it could take. If you are starting to trade with new countries you may also find it useful to download our debt collection app.
What happens if Euler Hermes can't collect my debt for me?
Sometimes we follow all the usual steps (before legal action) without success. At that point, we’ll discuss the situation with you and explain what options are available. If you decide to stop the collection activity at that point, we’ll close the case. Alternatively, you might want to take legal action. If it’s appropriate, we’ll let you know the chances of success, how long it could take and what it might cost so that you can decide whether to proceed.
Can I be sure your commercial debt recovery solutions will not damage my customer relationships?
Yes. We are committed to protecting your customer portfolio. As a third party with a global reputation, local knowledge and deep insight into customer finances, we can often negotiate more effectively to make sure you receive payments when they are due.
Can Euler Hermes offer a truly global collections service?
Your guarantee of a global service is our network of offices in 50 countries, including all the major economies in the world. That presence on the ground is backed by close partnerships with lawyers and collection agents in many more territories. In total, we can reach over 130 countries.
Do you have enough collectors to give me the service levels I need?
Yes. Around the world, we employ more than 600 dedicated commercial debt collectors. We constantly invest in their training and the development of their skills. The team is closely coordinated, working with systems and processes that define best practice in debt collection practices. Our collectors don’t just work for us, they work for you. They are ambassadors for your organization when they focus on collecting the payments owed to you.