International Debt Collection for France
Collecting a debt in France 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 France who understand the debt collection practices that work to support full recovery of your funds.
France is an important commercial country, ranking as the fifth-largest in the world economy, and is the second-largest trading nation in Europe, after Germany. Because of this, it is likely that you will eventually do business with a French company or French citizen. However, as in any other country, once foreign borders enter into a creditor/debtor relationship, a debtor’s memory may get hazy.
Cedar Financial is one of the finest international debt collection agency specializing in collections in France and around the world.
Here are some interesting facts about debt collection in France:
- A mise en demeure, a formal demand for payment usually sent by a French lawyer, carries a lot of importance in France and often elicits a quick response.
- The French government has implemented the Modernization of the Economy Act, shortening payment terms and increasing the default interest rate, in order to deal with debtors.
- In addition to the unpaid amount for the services that you have provided or the products which you have delivered, you will also be entitled to claim penalties for late payment.
- In commercial matters the limitation period is five years. This can be interrupted by beginning a legal procedure.
Statute of Limitations:
Cedar Financial is one of the few American debt collection agencies specializing in germany debt collection and all over the globe 24/7.