Find answers to the most frequently asked questions about our services and debt collection process.
We have compiled a list of questions that were posed frequently to hopefully serve as a reference and possibly assist you with your queries about our services. If we have not offered an answer to your queries in the list below, do not hesitate to contact us.
Our amicable process consists of a combination of letters, emails and telephone calls, made in the debtors local language. The exact sequence of our letters and calls will vary by country, based on the debt value, debtors’ response and in accordance with the culture and laws of each country. For all countries, a first reminder letter is sent to your debtor within 48 hours of receipt of the case, with a follow up call made normally between 1 to 10 days after the first reminder is sent. If there is no positive response from the debtor then between 2 to 3 reminder letters are sent and further calls are made to the debtor of differing intervals dependent on the country.
If we are not successful in collecting your debt during the amicable phase then we will provide you with our recommendations for next steps, such as legal action, including the estimated costs and timescales
We try to reach the debtor by email, phone calls and sometimes even by fax, depending on the information at hand. We also attempt to find additional information and trace the debtor in order to get in contact. In some circumstances, agents may be used to trace or visit the debtor's business premises.
When it comes to collecting overdue debts, time really is money. We do accept old invoices but in general, the older the case, the lower the chance of full collection. If the oldest invoice is 180+ days overdue, an extra 2% commission will be charged on top of the standard commission rate after a successful recovery.
Yes, you can place as many cases as you would like us to handle. You can also place one case with us and continue to place cases as they become overdue.
If the amicable process is not successful, the collector will assess the case for legal action. This is based on the debtor’s financial status, age of the debt, estimated cost of legal action, available documentation and chance of success. The timescale and cost of legal action will differ by the debtor’s country and the size of the debt. It is the customer’s decision only to proceed with legal action, and costs will be charged back to the customer.
The collector has several ways to reach a settlement on the outstanding debt. This usually depends on the debtor’s situation but settlement conversations are always conducted in a respectful manner. Settlements may result in a repayment plan or a deal proposal (i.e. a discount), if the entire amount cannot be paid at once.
Collect@Net is our online tool that helps our client be aware of anything that is happening on the case. You can:
When you place a debt with us, we request as much information as you can provide. We usually need invoices and contracts, but also statement of accounts and correct debtor contact information.
It usually takes about 90 days to handle an amicable case. This sometimes varies based on the status of contact with the debtor. If we are not successful in the amicable phase, we will provide you with our recommendations for further actions.
We only charge commission based on the amount of money we collect. We also apply cost and interest,which are charged to your debtor, at the statutory rate, if that applies based on the country’s respective laws.
There are usually two types of collections:
Please note that an extra 2% commission will be charged on top of the standard commission rate for invoices that are 180+ days overdue, upon successful recovery.
There is no set threshold for us to collect. However, the amount of the debt determines the rates that we charge.
Atradius Collections is authorised by you to collect the debt. The debtor will be asked to make payment into an Atradius Collections bank account, before the funds are sent to yours. Our success fees are normally retained by us from any amounts paid by your debtor.
You become a customer as soon as you place a case with us. That means that any payments made by your debtor after our involvement will be subject to our success fees. Please note that our debt collectors immediately initiate debt collection activities.
If you choose to withdraw the case against our recommendation during the amicable phase, a withdrawal fee may apply. However, you can choose to close the file at the end of our amicable phase at no extra charge.
You can either contact case manager that is handling the case in Collect@Net or by contacting the Customer Relationship Team member that is assigned to you.
It depends on the country. In general, we do not have any upfront costs. We only charge an introduction fee based on the location of the debtor. This is a one-off fee, following this we only charge commission on successful collection.
