Debt Collection: how to get paid before it's too late!

A long-outstanding debt, unsuccessful internal debt collection efforts, difficult or even unreachable customers... Well, you’re not alone: 80% of companies struggle to collect unpaid debts! When this happens to you, calling on the skills of Debt Collection experts is a winning strategy to get paid before it’s too late. Remember this: 25% of unpaid debts result in bankruptcy.

Your debts have been overdue for (too) long


Day in, day out, your business involves extending credit to your clients on your domestic and export markets ; but it’s a practice that leaves you open to the risk of client default or insolvency. You have a non-payment appear in your accountancy lines some time ago (too long ago now), and you (still) can’t get rid of it? 


Unpaid invoices are a serious threat to your cash flow and the financial health of your business. And, as more time goes by, it gets even tougher to collect overdues! But you don’t have to squander valuable human and financial resources to collect your unpaid debts. Calling in the collection experts can be a smart move if you want to boost your chances of collecting your trade receivables… before they become uncollectible!


When in-house Debt Collection fails

Phone calls, letters, emails, reminders, court orders, yet more reminders, formal notices... Are you (still) waiting for your unpaid invoices to be settled in spite of everything you've done internally (and all the time you've wasted)? 

Debt collection is a tedious task: it requires time, money, a huge amount of work, specific legal expertise… and experience! Legal recourse is often a lengthy process; local jurisdictions differ widely from one country to another (and are difficult to master); and payment behaviours are also very different depending on the country. If you find yourself in this situation, turning to professional collection experts is a good move – and can even be a win-win strategy for you.

When you use our collection services, we provide you with 100% dedicated teams, our worldwide network of legal partners and experts with detailed knowledge of local and international legislation and any specific legal issues. Better still, there’s no risk for you: you only pay when we collect your receivables!


If your debtor refuses to cooperate

When your client is refusing point-blank to pay up, it’s difficult to find a solution (even an amicable outcome). If you decide to entrust a professional outfit like Coface to collect your debts, our teams will intervene with your client to understand the concrete reasons for the late payment. At the same time, we’ll analyse their financial solvency so we can find the best payment solution.

If your client is forever promising to pay up but fails to honour its commitments, there’s a good chance you’ll spend a huge amount of time trying to sort things out. And that can deal your business a serious blow… which is why we strongly suggest calling in the experts, like Coface.


If your client doesn't return your calls

A client who avoids all contact soon becomes a problematic debtor, adding a further layer of difficulty to the collection process, which can quickly tip an unpaid debt into a bad debt.

Coface can help track down your client quickly: our unique database with its global reach leverages the data analysed in our role as a world leader in trade credit insurance and business information. Once we’ve located your debtor, our teams know exactly how to approach them and make sure they settle at the very earliest opportunity.

Once lines of communication have been restored, our teams at Coface exploit all our resources to come to a (preferably amicable) solution with your client. And there’s another advantage: when you use the help of a third party like Coface, you collect your unpaid debts while keeping business relations with your client intact.

“Here at Coface, we have everything you need to make sure you get a positive result in no time at all: knowledge, solvency analysis tools and experience. When you’re faced with an unpaid debt, you need to act fast and handle the process skilfully for a successful outcome!” 
Thierry Gasnier, Group Claims and Collection Director.


4 (good) reasons to hand your unpaid debts over to Coface

  1.   Quick collection: as a world leader in trade credit insurance, Coface’s collection services greatly improve your chances of getting paid. We save you time so you can focus on growing your business. We get in touch with the debtor within 24 hours of confirming your request. And this initial contact may be followed up with face-to-face visits, negotiations and legal proceedings if necessary.
  2.  Around the globe: with our unique network of 200 local experts and over 250 international legal partners, Coface collects your unpaid debts in 190 countries in compliance with the rules of professional conduct applicable in the relevant jurisdictions. These local contacts boast a thorough understanding of the language, legislation, marketplace and payment habits. You have a single point of contact irrespective of the debtor’s country. He or she is responsible for handling your collection request while limiting your losses and minimising disruption to your business activities.  
  3. You only pay for the sums we collect: in terms of the collection process, Coface is only paid if we are successful… which means it’s all the more important we do our job efficiently (for us too)!
  4.  Safeguard your company's reputation: because a fair agreement is better than a bad trial, our expert negotiators work towards amicable solutions, as is the case for 90% of the collections we’re given. And there’s the added advantage that this process helps to maintain good business relations with your debtor client and preserves your brand image.

Authors and experts

  • Thierry GASNIER

    Group Claims and Collection Director