New International Debt Collections Handbook for Decision-Makers in International Collections Out Now
Amsterdam, August 31, 2010 (ots/PRNewswire)
Atradius Collections, the global expert in domestic and international debt collections, releases the latest edition of the International Debt Collections Handbook. The International Debt Collections Handbook is an essential tool for businesses making decisions on international collections, as well as for any employee working in credit management.
International debt collection and country-specific legal systems create challenges that affect business. The International Debt Collections Handbook explains the diversity and complexity of country-specific debt collection approaches, offering an immense amount of detail. In total the handbook covers 26 countries and covers the different stages of amicable settlement, financial regulations around collections, legal proceedings and insolvency procedures.
With this essential information many companies may even approach their business overseas entirely differently. "Debt collections and insolvency cases can take years in some countries and tie up resources," says Rudi de Greve, Executive Manager Operations from Atradius Collections. "A civil lawsuit for collecting debts in Italy, for example, may take up to four years. For many companies having to wait for this long period in order to collect can threaten their survival. Having access to this kind of information early on can help businesses make better decisions and even opt for a different route than the seemingly straightforward judicial one."
"Companies need to know what to expect when dealing with collections in a foreign country," says Rudi de Greve. "There are also great differences in handling insolvencies. Looking at the UK there is often little hope for settling outstanding debt and receiving monies owed, especially when smaller amounts are involved. In Germany, on the other hand, the effort is made to pay out all creditors evenly after liquidation."
With levels of insolvencies peaking in most markets in the past year, maintaining and protecting cash flow is key for all businesses. Having knowledge of amicable collections as well as the country-specific legal phases surrounding collections is therefore vital for survival in challenging times. Only with local expertise can businesses ensure they are following a professional and successful approach. The Handbook will prove especially useful to organisations lacking in-house resources in international collections or credit management.
The International Debt Collections Handbook can be downloaded at http://www.atradiuscollections.com.
About Atradius Collections:
Atradius Collections, a business unit of Atradius Group, provides efficient, quick and flexible solutions to recover domestic and international trade debts. With a global network of collections specialists, lawyers and insolvency practitioners worldwide, Atradius Collections serves over 14,000 customers handling on average 100,000 cases a year. Over 80 years of worldwide credit management industry experience uniquely position Atradius Collections as a global leader in business-to-business debt collections.
Contact:
CONTACT: For more information, please contact: Corinna M.
Lohse,Corinna.Lohse@atradius.com , Phone: +31(0)20-553-3028.