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How to Instruct Us
We simply require the following details:
Full name & address of the debtor
All available contact details of the debtor i.e. contact name(s) / Tel / Mobile / Email(s)
Amount owed (Invoice(s) or Statement will help)
Or ask us to call you – just leave us your details:
Cayman Islands Debt Collection – No Win No Fee
Creditreform operates a global specialist International debt collections service. We have local offices and fully approved expert international debt collection agency partners in every country worldwide. All our International debt collection agency partners and offices operate on a No Win No Fee basis charging an agreed commission against monies recovered only. All our international offices and partners initiate the collection processes by sending the debtors a debt collection letter to introduce their involvement.
Main reasons why a local country debt recovery agency is so important rather than trying to recover from a debt collection agency UK are as follows:
The local International Debt collection Partners know:
The local cultures
The best methods of initiating debt recovery letters and processes
The languages
The laws
Are in the same time zones
Herewith details of our debt collection service Cayman Islands:
Location of debt recovery office in Cayman Islands?
Camana Bay, Grand Cayman.All debt collection letters are sent by the local head office.
Number of debt collection staff?
We have about 25 fee earners, plus about the same again in support staff across the group.
Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response results from debtors.
How long have you been operating a debt recovery service in Cayman Islands?
We have been operating a Caribbean debt collection service on a no win no fee basis in Cayman Islands since 2005. Cayman Islands is included on our debt collection agency list.
What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)?
We handle both Business to Business debt recovery cases and Business to Consumer debt collections cases. There is different content for business to business debt collection letter templates and business to consumer debt collection letters templates.
Statue of Limitation in Cayman Islands?
General statute of limitations for contract is 6 years in each island.
Cayman Islands civil litigation statute of limitations is a law that time limits a plaintiff’s right to bring a claim against a defendant. The statute of limitations in Cayman Islands is 6 years. However, if an action has been taken within this time then the statute of limitations time will be extended to account for this. Once the specified time period elapses then no action can be taken through the legal processes unless the plaintiff is able to prove exceptional circumstances. Other Statute of Limitations include:
Cayman Islands Open Account Years – 6 years
Cayman Islands Promissory Notes – 6 years
Cayman Islands Written Contracts – 6 years
Cayman Islands Oral Agreements – 6 years
How EU (European Union) laws effect debt collection in Cayman Islands?
EU laws do not affect debt collection.
Also, there is no equivalent of the Enterprise Act 2003. The jurisdictions are creditor friendly, with no administration regimes and creditor remedies are available.
There is currently no Free Trade Agreement that have been signed or any ongoing negotiations between Cayman Islands and European Union.
How many companies registries in Cayman Islands for businesses (i.e. UK has just 1 central registry)?
There is 1 company registry in Cayman Islands which is called Cayman Islands General Registry located at General Registry Department, Ground Floor, Government Administration Building, 133 Elgin Avenue, Box 123, Grand Cayman KY1-9000, Cayman Islands.
We have access to Cayman Islands Company Registry searches to find out who further background information on all Cayman Islands companies.
What is the debt collection process in Cayman Islands?
If debts are not disputed then you can proceed with a statutory demand and insolvency remedy. UK judgments can be domesticated and enforced locally.
Average length of time to collect a debt?
The average time taken to recover a Cayman Islands B2B debt collection case varies from case to case.
Can late payment fees / interest to be added to claims?
Late payment and interest fees can be included if there is a contractual entitlement. Service is typically on the registered agent (we can arrange this).
Basically if you are coming offshore it is essential to carry out entity checks (to confirm that you have the right jurisdiction and if the entity is in good standing). There is no public record of shareholders or directors, and no accounts are filed. Discovery relief is sometimes available, but the key thing is to contact us in each instance to discuss remedies and whether the matter is likely to be worth pursuing.
Cayman Islands Business Credit Reports
Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. We provide freshly investigated Cayman Islands Company Searches which can be done prior to trading to make sure the company you will be dealing with can meet the commitment or once the debt becomes overdue to ensure the debtor can meet the amount owed.
Cayman Islands Skip Tracing Agents
Creditreform’s debt collection company service also uses expert local Cayman Islands people tracing agent services to locate any absconded debtor. This debtor tracing service is provided on a No Find No Fee basis only charging for a successful trace.
Specialist Debt Recovery Experts
There are many unique requirements to recovering international debts in all countries including Cayman Islands debt collection services which differ from the UK debt collection agency services and therefore it is very important that cases are handled directly by our expert international debt collection agencies and not from debt collectors UK. This method of international debt collection sets Creditreform aside from the competition who in many cases try and recover debts from a UK debt collector only. Using the local offices and partners enables us to achieve a far greater success rate and our No Win No Fee service together with competitive commission rates against monies recovered only ensures you get the best service.
Cayman Islands Debt Collection Partners in the following Cayman Islands Cities George Town Debt Collection Agency
Which countries border Cayman Islands?
Cayman Islands is lie northwest of Mexico, northeast of Costa Rica, north of Panama, south of Cuba and west of Jamaica.
Who are the main trading partners for Cayman Islands?
The main export markets for Cayman Islands are Aruba, United Arab Emirates (UAE), Argentina, Australia and Austria.
The top import countries for Cayman Islands are United States (USA), Bahamas, Denmark, South Africa and Jamaica.
What is the legal system in Cayman Islands?
The Cayman Islands legal system is based on English common law.
Cayman Islands Debt Collection Agency FAQs
1. How does a Debt collection agency in Cayman Islands recover overdue debts?
The debt collection process is initiated by an introductory letter to your debtor stating the amount owed to you and informing them of our involvement. Letters are then followed up with emails and telephone calls. From our experience the most effective part of this process will be the outsourcing to a third party debt collection agency in Cayman Islands as the debtor now has to resolve the debt and can no longer hide or provide lame excuses.
2. How long does the debt recovery agency in Cayman Islands take to process a case?
The debt collection case will be processed immediately up receipt and a letter sent normally by email and post. You will receive an automated confirmation by return.
3. What is the success rate for debt collection agencies in Cayman Islands?
The success rate of the debt recovery case depends on a number of factors including the solvency of the debtor and whether the case has a legitimate dispute. Our aim is to recover every debt that is recoverable.
4. Does the debt recovery agency in Cayman Islands operate a No Win No Fee debt collection?
We take on all debt collection cases on No Win No Fee basis only charging the agreed commission against monies recovered.
5. Why use a local debt recovery agency in Cayman Islands?
The reasons for using a local Cayman Islands debt collection agency than processing from a different country is the debt collector in Cayman Islands speaks the local language, knows the local laws and operates in the same time zones.
6. Are there any debts too old or too small for Cayman Islands debt collection?
We will assess all debt cases, irrelevant of age and size and then advise the best processes to recover these through the Cayman Islands debt collector.
7. How do I instruct the debt collectors in Cayman Islands?
Instructing the debt collectors Cayman Islands is a simple process. You just email details of the debt, debtor and amount to be recovered and the case can be initiated.
8. What evidence do I need to provide when instructing the Cayman Islands debt collector?
When instructing the debt collector in Cayman Islands just provide copies of invoices/statements, debtor contact details and any relevant information you may have to assist with the recovery process.
9. Who does the debtor pay?
In general the debt collector in Cayman Islands will request payments to be sent directly to the client but if not possible for any reasons will take payment directly. If payment is taken then cleared funds will be processed and sent to client straight away.
10. Can I instruct multiple cases?
You can send unlimited debt case instructions. Our systems will automate volume cases to meet your requirements.
11. Can you trace debtors in Cayman Islands?
Through our network of skip tracing agents we have an extremely high success rate of locating your absconded debtor.
12. How long does the debt collection process take?
On average the debt collections process takes 90 days to resolve an amicable debt recovery case. There are a number of factors that can delay this process but we will keep you informed every step of the way.
13. What are my options if debt collection in Cayman Islands is not successful?
If the debt recovery service is not successful we will advise you of your options including legal actions. Please note no legal actions or other processes will be taken without prior instruction from you.