Debt Collection Mexico
Collecting a debt in Mexico can seem impossible. Language and cultural barriers, foreign laws and customs, and sheer distance all impose serious challenges.
Debt recovery is simpler when you use a collection agency fluent in the laws and customs of the country where the debtor resides. Cedar Financial offers on-the-ground representatives in Mexico who understand the debt collection practices that work to support full recovery of your funds.
Since 1991, Cedar Financial has served as a trustworthy, nationally licensed debt collection agency, helping businesses collect unpaid accounts internationally. With knowledge of collecting debts in a wide range of different industries, our experienced team collects your debts quickly and effectively so you can receive the payments you’re owed.
With offices in over 150 countries, including Mexico, working with Cedar Financial provides you access to a global network of nationally licensed debt collectors. Our in-depth understanding of local laws, customs and cultures guarantees the best possible debt mediation results.
At Cedar Financial, we put people first, doing everything we can to get your money back while still preserving a good relationship with your customer. Our strategic public relations efforts are fair, but firm-ensuring your reputation is our top priority!
We combine a people-oriented approach with the latest tech-driven solutions to drive results and provide better contact management. This comprehensive method gets the results you need while preserving customer relationships.
In addition, our network of debt collectors, attorneys, suppliers and vendors are cherished relationships that allows us to get the job done. We value each of these relationships, no matter how small or large.
Contact us today and learn what we can do for your business.
Face-to-Face Meeting in Mexico Resolves 3-Year-Old Debt: Read the Case Study
The use of an office like ours to manage the payment of debts incurred from Mexico or Mexican is increasingly necessary. In general, several countries of Latin America which includes Mexico, a culture of non-payment of contracted debts has been created, this due to a legal system that sometimes is not efficient
We work on a "No Collection - No Fee" basis so we will not charge a fee if we recover no money for you. That principle applies to pre-legal debt collection only.
There is not a minimum number of accounts however, the minimum dollar amount to be collected is $100.
We work all kinds of debts arising from an act of trade between two companies or individuals. (Under contracts, lines of credit, personal loans, bank loans, credit cards, etc)
When there is an interest of the debtor in paying, it may be that since the first contact is achieved to establish a payment arrangement, however there are some borrowers who oppose paying, which on average they tend to mature negotiations between two or three months, although payment times are typically much longer.
It starts with the extrajudicial collection simultaneously is credited with the participation of the firm. The debtor is sent the statements and / or documents that make up the debt for review. This first meeting sometimes results in an early payment, or payment agreement. If this does not give any positive result, legal actions are suggested.
In Mexico all documents have a statute of limitation to collect which varies, so the very old debts are often uncollectable.
Most collection efforts are made by lawyers who visit borrowers in their homes, (Only where there is an office or correspondent) this process makes very expensive the collection management in Mexico, however this process is that it is more efficient for debt recovery, as debtors are not expected to be visited.
Yes. It is essential to have the documentation which supports the debt, (Invoices, contracts, promissory notes, and bill of lading), payment commitments, etc., any documents related to the debt, and even where the debtor has already recognized the debt and there is a promise to pay, of course all these preferably in originals.
Yes. STA Corporation Mexico is a Law firm, once the extrajudicial collection efforts are exhausted, recovery by legal means is proposed, with lawyers who are in the same office.
That's right, if there is a ruling of payment at the end of a trial, the judge orders the debtor to pay "Costs and Expenses" in which the client incurred for these likewise be paid by the debtor.