BtoB international and domestic debt collection
Debt collection is challenging enough under the best of circumstances, but recovering money from foreign debtors adds another layer of complexity. On top of that, the economic fallout from the coronavirus outbreak adds futher to their hardship. In such case, it is advisable to seek professional help with overdue bills.
At Quintuor, we offer a tailored debt collection service to both domestic and international creditors who face BtoB past due invoices from debtors residing in France.
With a great experience in french law and procedures as well as a practical approach favoring amicable debt recovery, we try to avoid litigation and do our best to maintain good relationship with your contractors.
In order to avoid long, unecessary and costly litigation, we first ascertain the solvency of your debtors to elaborate the most appropriate recovery and cost efficient strategy.
We also developped a strong system of informal dispute resolution, encouraging settlement of dues by negociating reasonable debt repayement plan if necessary and/or giving incentives to motivate the debtor.
By using our services, you’re also avoiding the following costs when it comes to litigation :
- The need of additional steps to convert your judgment to allow its enforcement in France ;
- To involve another law firm in the process (which can be required if a foreing lawyer needs to initiate a procedure in France) ;
Furthermore, the law gives the creditor the opportunity to counterbalance the effects of a late payment and thus the resulting damage by applying :
- Conventional or legal late payment interest rate right from the day following the due date without the necessity of a reminder ;
- A penalty equal to 40 € for each outstanding invoice subject to recovery ;
- A penalty based on a penalty clause if the contract say so.
In practice, however, those fees are frequently overlooked by the creditors. Mindful and attentive to the details, we consistently check the contract terms, all the interest and penalties you’re entitled to are covered by our counts.
If the debtor is obstructive or uncooperative, it requires to build and to implement a proper strategy, that is consistent with the profile of the debtor and the nature of the assets available in its estate.
We also evaluate the cost-benefit ratio of the considered procedure in relation of the size of the debt.
If the cost of the procedure is too high or if our evidences suggest that the debtor may not be able to pay its debt, we will inform and advise you accordingly.
On the other hand, if a court proceeding can be initiate, our network of lawyers and bailiffs allows us to assist and represent your company in every national jurisdiction.
Besides, even with a favourable judgment, setting a debt recovery strategy is still relevant if your debtor doesn’t comply with the ruling issued and refuse to pay the awards.
Then, when instructed to recover the outstanding sums, the bailiff will be able to determine and conduct the most suitable seizure.
At last, if the company files a petition to open insolvency proceedings, we can file a form on your behalf called "déclaration de créance" (declaration of claims) indicating the amount due in principal and interests (as well as penalty and charges).
In that way, your chances of recovery are kept if there are sufficient sums of money to settle creditors at the closure of the procedure.
Please contact us if you have any enquiries regarding that matter, you can find the Contact form down bellow.