During the month of July Debt Recovery had a number of significant collections. Not only in the United Kingdom but from as far away as China. After a ten month ordeal with an Egyptian company finally we can report success to the value of £27,500. We are collecting on a constant basis from all over Europe using a number of different collection methods. Seldom is International Debt Collection easy as we are an island and the debtors often think that a stretch of water will deter us from chasing a debt even if it is just across the water in France.
The latest Egyptian case was concluded after ten months of constant phone calls and e-mails which eventually resulted in the debtor settling the outstanding invoice in full. In this particular case there was no need for legal intervention which was ultimately a saving for our client. Although had we gone legal we suspect payment would have happened a little sooner.
We are still in the throws of a £250,000 collection in Germany, this matter has gone legal and is being handled by a German associate of ours. We have a similar case in Holland, this collection is for just over 200,000 euros. Both cases we would expect to conclude later in the year. Dubai is another area where we have had great success and have in progress a 360,000 USD debt due for payment in September or October. That case has been on going for the past 18 months.It is clear for all to see that International debt takes time but with a dogged approach success can be had.
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