Handling the international collection agencies and your debts
Debt collectors are the people who are given the task by the creditors to collect debts that you actually owe to your creditors. The collection agencies can either be the collections department of credit card companies (in-house collection agencies) or can be an individual organization. In case of third party collection agencies, the creditors sell off the debt to them. Mostly these collection agencies are not a party to the original contract.
What are international collection agencies?
The international collection agencies or the debt collectors are organizations that collect debts and payments from debtors on behalf of another individual or firm who can possibly be situated in a different country. That is, the international collection agencies are the ones which especially operate in more than one country. They generally are registered in one country but are licensed to pursue their business in other countries too.
How do collection agencies work?
The main work done by the collection agencies is collection of the dues from different debtors on behalf of the creditors. They try to collect the money in different ways; for example by calling the debtor for the money and sending him letters on his dues. The debt collectors can even report the debt to credit bureaus and can sue the debtor for non-payment of the dues. However, lawsuits are less common because the costs are high and great amount of time gets consumed. Sending letters and contacting the debtors are the often used methods and can also be said to be the most successful methods. Mostly, the collection efforts made by the collection agencies are done in the form of the letters and pre-recorded call messages. This allows the debt collectors to manage large number of delinquent debt accounts at the same time.
Handling international debt collections
The international collection agencies work in the same way as any other collection agencies but collecting on international debt is quite a tough job. Similarly, it is difficult for the debtor to manage the debt payments while dealing with the international debt collectors. There can be many reasons for this; like the distance, the difference in languages and cultures, difference in time zones and so on. The laws too are different in different country and some countries may even not have same idea on payments of the consumer bills.
So, if you think that an international collection agency is trying to collect an unpaid debt of yours, you will have to first try and verify with the authenticity of the collection agency and get the details of where the collection agency is situated. You can send a debt validation letter to the collection agency through Certified Mail Requesting a Return Receipt or CMRRR so that you are able to keep a proof of the letter sent to the agency. Only if the collection agency is able to validate the debt, the debt collector or the debt collectors of that agency will be able to collect the debt from you. You will have send the debt validation letter within 30 days from the date of first attempt by the international debt collectors to collect that particular debt from you. In general, as is the case with US, the debt collectors are required to validate the debt by providing the original contract between you and the creditor, your payment history and proof that the collection duties has been handed over the collection agency by the creditor.
Other than the above, you will also have to do some research on the debt collection laws of the country and the place where the collection agency is situated. Though mainly, all the laws in regards to debt which are taken into account are mainly the laws of the state or the country where the debtor had incurred the debt, it is better to remain equipped about the debt laws in other countries too.
What are international collection agencies?
The international collection agencies or the debt collectors are organizations that collect debts and payments from debtors on behalf of another individual or firm who can possibly be situated in a different country. That is, the international collection agencies are the ones which especially operate in more than one country. They generally are registered in one country but are licensed to pursue their business in other countries too.
How do collection agencies work?
The main work done by the collection agencies is collection of the dues from different debtors on behalf of the creditors. They try to collect the money in different ways; for example by calling the debtor for the money and sending him letters on his dues. The debt collectors can even report the debt to credit bureaus and can sue the debtor for non-payment of the dues. However, lawsuits are less common because the costs are high and great amount of time gets consumed. Sending letters and contacting the debtors are the often used methods and can also be said to be the most successful methods. Mostly, the collection efforts made by the collection agencies are done in the form of the letters and pre-recorded call messages. This allows the debt collectors to manage large number of delinquent debt accounts at the same time.
Handling international debt collections
The international collection agencies work in the same way as any other collection agencies but collecting on international debt is quite a tough job. Similarly, it is difficult for the debtor to manage the debt payments while dealing with the international debt collectors. There can be many reasons for this; like the distance, the difference in languages and cultures, difference in time zones and so on. The laws too are different in different country and some countries may even not have same idea on payments of the consumer bills.
So, if you think that an international collection agency is trying to collect an unpaid debt of yours, you will have to first try and verify with the authenticity of the collection agency and get the details of where the collection agency is situated. You can send a debt validation letter to the collection agency through Certified Mail Requesting a Return Receipt or CMRRR so that you are able to keep a proof of the letter sent to the agency. Only if the collection agency is able to validate the debt, the debt collector or the debt collectors of that agency will be able to collect the debt from you. You will have send the debt validation letter within 30 days from the date of first attempt by the international debt collectors to collect that particular debt from you. In general, as is the case with US, the debt collectors are required to validate the debt by providing the original contract between you and the creditor, your payment history and proof that the collection duties has been handed over the collection agency by the creditor.
Other than the above, you will also have to do some research on the debt collection laws of the country and the place where the collection agency is situated. Though mainly, all the laws in regards to debt which are taken into account are mainly the laws of the state or the country where the debtor had incurred the debt, it is better to remain equipped about the debt laws in other countries too.
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