Call 855-930-4343 Today!

Chasing Down Payments in Medical Equipment Exports to Switzerland

In the world of medical equipment exports to Switzerland, chasing down payments is a crucial aspect of ensuring financial stability and success. To effectively recover company funds, a strategic Recovery System consisting of three phases is implemented. Each phase plays a vital role in the process, ultimately aiming to secure the payments owed for the exported medical equipment. Let’s delve into the key takeaways from this Recovery System:

Key Takeaways

  • Implement a thorough investigation of the debtor’s assets to determine the possibility of recovery.
  • Consider the options of closure or litigation based on the investigation results.
  • Be aware of the costs involved in legal action and the potential outcomes.
  • Understand the collection rates based on the number and age of claims submitted.
  • Utilize the Recovery System’s phases effectively to maximize the chances of successful payment recovery.

Recovery System for Company Funds

Phase One

As we initiate Phase One, we hit the ground running. Within 24 hours of an account being placed, our team springs into action. The first of four letters is dispatched via US Mail, marking the start of our relentless pursuit.

We delve deep, skip-tracing and investigating to unearth the most current financial and contact information. Our collectors are tenacious, employing a barrage of communication tactics: phone calls, emails, text messages, faxes, and more. The goal is clear – to secure a resolution.

Daily attempts to reach debtors are standard for the first 30 to 60 days. It’s a rigorous process, but essential for fund recovery.

Should these efforts not yield the desired outcome, we seamlessly transition to Phase Two, escalating the case to our network of affiliated attorneys. This is where the stakes are raised, and the legal muscle flexes.

Our commitment is unwavering, and our methods are proven. We leave no stone unturned in the quest to recover what is rightfully yours. The recovery system we’ve honed is designed to maximize results while minimizing delay.

Phase Two

As we escalate our efforts, Phase Two kicks in with legal leverage. Our affiliated attorneys, armed with the specifics of your case, begin their pursuit. They draft and dispatch demand letters with the weight of their law firm’s letterhead behind them. This is followed by a series of persistent phone calls aimed at securing your payment.

  • Immediate drafting of demand letters
  • Persistent phone calls to the debtor

If these intensified efforts still don’t yield results, we prepare a detailed report. This outlines the challenges faced and our recommended course of action.

We stand by our commitment to recover what’s owed to you, navigating through the complexities and providing clear, actionable advice.

Phase Three

At the crossroads of Phase Three, we face a critical decision. If the debtor’s assets suggest recovery is unlikely, we advise closing the case, at no cost to you. Conversely, should litigation seem viable, the choice is yours. Opt out, and we part ways without fees; opt in, and legal costs ensue.

Litigation is a gamble, with upfront costs between $600 to $700. Should you commit, our affiliated attorney initiates legal proceedings to reclaim every penny owed, including filing expenses. Failure to recover funds means closure of the case, still without fees to us or our attorney.

Our commitment to transparency extends to our fee structure, ensuring you’re informed every step of the way.

Here’s a snapshot of our competitive rates:

  • For 1-9 claims:

    • Accounts under 1 year: 30%
    • Accounts over 1 year: 40%
    • Accounts under $1000: 50%
    • Accounts with an attorney: 50%
  • For 10+ claims:

    • Accounts under 1 year: 27%
    • Accounts over 1 year: 35%
    • Accounts under $1000: 40%
    • Accounts with an attorney: 50%

These rates are tailored to the volume and age of claims, ensuring fairness and efficiency in our pursuit of your dues.

Frequently Asked Questions

What is the Recovery System for Company Funds?

The Recovery System for Company Funds consists of three phases: Phase One, Phase Two, and Phase Three. Phase One involves sending letters to debtors, skip-tracing, and attempting to contact debtors for resolution. Phase Two includes forwarding the case to an affiliated attorney for further action. Phase Three includes recommendations for closure or litigation, with associated costs and rates for collection services.

What happens in Phase One of the Recovery System?

In Phase One, within 24 hours of placing an account, letters are sent to debtors, skip-tracing and investigation are conducted, and attempts are made to contact debtors for resolution through various communication methods. If all attempts fail, the case proceeds to Phase Two.

What occurs in Phase Two of the Recovery System?

In Phase Two, the case is forwarded to a local attorney within the network. The attorney drafts letters demanding payment from the debtor and initiates contact through phone calls. If no resolution is reached, further recommendations are provided to the client.

What is the process in Phase Three of the Recovery System?

Phase Three involves evaluating the possibility of recovery and providing recommendations. If recovery is unlikely, closure of the case may be recommended with no fees owed. If litigation is advised, the client can choose to proceed with legal action by paying upfront legal costs. Collection rates are determined based on the number and age of claims.

What are the costs associated with legal action in Phase Three?

If legal action is chosen in Phase Three, the client is required to pay upfront legal costs such as court fees, filing fees, etc. These costs typically range from $600.00 to $700.00, depending on the debtor’s jurisdiction. If litigation is unsuccessful, no fees are owed to the firm or the affiliated attorney.

How are collection rates determined in the Recovery System?

Collection rates in the Recovery System are based on the number of claims submitted within the first week. Rates vary for accounts under 1 year in age, accounts over 1 year, accounts under $1000.00, and accounts placed with an attorney. The rates decrease for higher volumes of claims.


More Posts

Securing Payments for Pharmaceutical Exports to Switzerland

Securing payments for pharmaceutical exports to Switzerland requires a comprehensive understanding of the Swiss market, as well as strategic measures to mitigate risks associated with payment collection. This article delves into the intricacies of the Swiss pharmaceutical market, outlines effective risk mitigation strategies, navigates the legalities of debt recovery, analyzes

Securing Payments for Pharmaceutical Exports to Switzerland

Switzerland’s pharmaceutical industry is a global powerhouse, making the export of pharmaceutical products to this country a lucrative but complex endeavor. Ensuring the security of payments in these transactions is crucial for exporters to maintain profitability and minimize financial risk. This article delves into the intricacies of the Swiss pharmaceutical

Handling Unpaid Invoices in USA-Switzerland Machinery Trade

In the intricate world of USA-Switzerland machinery trade, managing unpaid invoices can be a daunting task for businesses. This article delves into the recovery system for unpaid invoices, providing insights into the multi-phase approach adopted to reclaim owed funds. It evaluates the feasibility of debt recovery, the decision-making process involved

Strategies for Collecting Overdue Payments from Swiss Tech Importers

When dealing with Swiss tech importers who have overdue payments, it’s essential to have a structured and informed approach. This article outlines a three-phase recovery system tailored to navigate the complexities of Swiss debt collection, ensuring that businesses can effectively recover funds while understanding the associated costs and legal implications.