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How to Chase an International Business Debt

 

When looking to recover debt owed internationally, businesses never consider how difficult it is to recover money from a customer who is not only in a different time zone to you but also has different laws and customs to abide by. Its not as simple as putting on your best Liam Neeson impression on the phone to a debtor. Here are the steps to take when looking to recover a business debt internationally.

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Lovetts Solicitors appear at the Business Show on 16th and 17th May in London

Lovetts Solicitors exhibited at The Business Show held at the London Excel centre on 16th and 17th May 2018.

It is the largest business show in Europe hosted by many growing businesses in the  UK .  The show provides a great opportunity  for businesses of all sizes to network with over 25,000 aspiring, developing and expanding companies. It provides the opportunity to sell your products and services to these highly targeted visitors on a face to face basis. 

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Lovetts Solicitors star in ITN production ‘Credit Champions’ in collaboration with the Chartered Institute of Credit Management (CICM)

Debt recovery specialist Lovetts Solicitors have recently been featured in a new ITN productions programme titled ‘Credit Champions’.  The film was commissioned in partnership with the Chartered Institute of Credit Management (CICM)and was introduced by national newsreader Natasha Kaplinsky. The programme promoting excellence in credit management and raising awareness of its vital role within the business community was unveiled at the recent Credit Summit event.

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Lovetts Solicitors Named UK Debt Recovery Law Firm of the Year

Lawyer Monthly, a corporate law based publication which boasts a broad global readership, has announced Lovetts Solicitors as the UK Debt Recovery Law Firm of the Year. This prestigious award is presented to a firm that has provided an outstanding service to their clients in the previous twelve months, not only through expertise and response to changing demand, but also with a dedication to innovate the sector they are in.

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The Go-To Guide For Collecting Debts in the United Arab Emirates

In 2016, the UAE oil crisis led to job cuts and a slump in the tourism industry. Significantly, the Persian Gulf nation has seen its consumer bad debts rise, a situation that has fueled the recent increased scrutiny on debt recovery agencies. To mitigate the financial crisis, the UAE credit bureau instituted new credit policies to limit delinquencies in the small and medium enterprise sectors. In this guide, we will address the intricacies of debt collection in the United Arab Emirates.

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How Hard is it for UK Businesses to Collect Debts in the USA?

The level of trade between exporting nations and the United States is continuously increasing. Now, the United States is buying nearly one-and-a-half times as much from other countries as it is selling to them (exports at $1.6 billion, imports at 2.2 billion. However, indebtedness to UK creditors is among the lowest ratios imports/exports is only .98).

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Worldwide Customers: Should You Fear Them Or Favour Them?

Sustaining growth in a dog-eat-dog marketplace is becoming increasingly difficult. At times, it can seem as if there is a glass ceiling for domestic trade that is impossible to break through. Expanding into emerging international markets is an excellent way to maintain an edge in an increasingly competitive business environment.

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Disappearing debtors: Improving Your Chances of Successful Debt Collection

Sometimes a debtor will change address without notifying creditors, leaving those creditors feeling pretty helpless as far as debt collection goes. 

As a creditor it might seem like they have gone for good, but remember: nobody really disappears off the face of the earth.

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International Debt Collection: NHS Incentive To Chase Health Tourists

We've all read negative headlines about how so-called health tourism accounts for 2% of the National Health Service budget. But what if Trusts could get up to 150% of what they spend on overseas visitors back?… Well, that's exactly what can now happen thanks to changes in the law. Just take a look at this:

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5 Myths About International Debt Collection

International debt collection might sound like mission impossible, but it really isn't… With the right team on your side you can take decisive action and recover what you're owed with very little hassle. So if you're wondering how hard it actually is, simply take a look now as we shatter the five main myths.

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7 Late Payment Excuses & How To Deal With Them In Debt Recovery

Late payment is a common problem for all businesses. Large companies aren't excused from urging businesses to pay suppliers on time and calling for small firms to pursue those who put them at risk by delaying this frustrating everyday occurrence either, and they too face the battle to receive payments on time. Here we reveal the most common excuses for late payments and how you can deal with them.

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Debt Recovery Do's and Dont's

Unpaid debts are unfortunately an everyday occurrence for many business owners and finance teams. Debt collection can be frustrating, time consuming and can seriously affect cashflow. But no business can afford to ignore debt recovery. 

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