Debt Collection Knowledge Bank
Are you looking for information about debt collection and other legal issues? In the Bierens knowledge bank you will find all kinds of practical information for your organisation. Our attorneys and collection specialists provide answers to various legal and collection-related questions. They also give tips on how to prevent debt collection and how to optimise your debtor management.
Do you have a question that is not in this knowledge base or would you like more information about a specific topic? Get in touch. We will be happy to help you.
Debt collection fun
Debt collection boring? Not at all! Collecting outstanding invoices may seem like a boring or tedious task, but it certainly isn’t. Every day we come across interesting, funny or educational debt collection cases. Did you know that there are even films based on collections? And music? We wanted to share in the fun, so decided to include a section in our knowledge bank on “debt collection fun”. Read our fun articles to find out why we think we have the most enjoyable profession in the whole world!
Debt collection process
How does the debt collection process work and when should you hire a debt collection law firm? Find out everything you should know about hiring a debt collection agency and the extrajudicial and judicial debt collection phase. This way you know what to expect and how we aim to recover your invoices.
Debt collection tips
For practical tips on calling your debtor and sending effective payment reminders, our team of debt collection specialists and lawyers share their practical tips here. This way, you can already prepare yourself so you know how you can best approach your debtor.
Disputed claims
If a customer refuses to pay an invoice and claims that for example, the order is incorrect or that the quality of the delivered goods or services are insufficient, then you have a disputed claim. Find out more on what you can do if a customer disputes a claim.
Financial tools to secure payment
There are many ways to protect your business transactions while ensuring that you get paid. Financial tools such as a letter of credit, promissory note, bank guarantees or cheques can be used. However, making sure they are properly implemented can be complicated, especially when dealing with an international customer.
General terms and conditions
In your general terms and conditions, you state the rules and conditions that apply to both you and your customer. This way, you limit yourself of any risk and secure yourself from any possible scenarios. However, in order to do so, there are certain rules that general terms and conditions should comply with.
International disputes
With an international debtor, it becomes much more difficult to recover your payments, especially if your debtor disputes the claim. Dealing with a foreign language, different cultures and business traditions are some of the factors. But when dealing with different legislations, what do you need to consider then?
International debt collection
Debt collection abroad is much more complicated than doing business in your own country. With different languages, business traditions, debt collection laws, there are many factors involved that must be kept into account. Read here everything you need to know on international debt collection.
Limitation period of an invoice
Did you know that invoices too have an expiry date? Once the limitation period expires, you can no longer enforce the payment of your invoice through litigation. When dealing with international claims, countries across Europe can differ in their limitation period. These should also be considered when recovering your claims.
Payment arrangements
Payment arrangements can be a successful tool for recovering your invoices, especially when your debtor is experiencing financial difficulties. If the original payment arrangement has not been fulfilled, you can agree that the payment will be made in instalment instead.
Payment reminders
A payment reminder is a written reminder that you send to your customer if an invoice has not been paid. In the reminder, you inform your customer of the outstanding invoice and request your debtor to pay. You can also mention the consequences if the payment is not made on tim
Vienna Sales Convention
The Vienna Sales Convention is an international treaty. It describes the rules about international purchase agreements between two commercial parties. If the Vienna Sales Convention applies to your case, our lawyers can assist you throughout the process.
Contact us for your consultation
We can assist you in the following situations:
If you prefer to speak directly with a debt collection specialist, feel free to contact us by phone at +1 347 862 9438
