Mexico 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.
Main reasons why a local country debt recovery agency is so important rather than trying to recover from the UK are as follows:
The local International Debt collection Partners know:
- The local cultures
- The languages
- The laws
- Are in the same time zones
Herewith details of our debt collection service Mexico
– Location of office in Mexico:
– Number of staff
4 staff in Mexico
– How long been operating in Mexico
– What type of debts do you recover?
We do both commercial debt collection (B2B) and consumer debt collection (B2C)
– Statute of limitation in Mexico
It depends on the kind of claim, generally after 5 years limitations may come in effect
– How EU laws effect debt collection in Mexico?
None as such (for B2B)
– How many registries in Mexico for businesses? (i.e. UK just has 1 central registry)
Registries are local (on municipality level)
General comments regarding process in Mexico for debt collection and how differs from UK / other countries in Europe
– What is the debt collection process in Mexico?
For foreign claims: focus on amicable collections (letters, emails, phone calls), if no collections amicable, assessment if legal is an option. In practice, it is hardly ever recommendable to even consider going legal, given the complex legal system and the substantial costs involved
– Average length of time to collect?
Amicable collection process: 3-6 months
– Can late payment fees / interest be added to claims?
Less, but only if contractually agreed
– Details on legal service / process in Mexico
Generally speaking, not recommendable to go legal in Mexico
There are many unique requirements to recovering international debts in all countries including Mexico 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.