Recommendations from Turkish Debt Collection Experts
First of all, before we move on Turkish debt collection experts, let’s say this. Contrary to what is known and even applied, the sale process is completed not only by delivering the goods/services. But also the sale process is completed by collecting the money from the customers. For this reason, receivables management, which is often left secondary unfortunately, has the biggest share in the successful cash-flow of companies. Moreover, Turkish Debt Collection Experts constitutes the most important link in the chain. Today we will tell you about a situation that you have been looking for, perhaps, for a long time. What should be the best way to collect the debts from your Turkish customers?
Details with Huge Effects
There are two factors for increase the success in debt collection. First combining the right ingredients. And second using an effective collection method . Based on our years of experience, we can explain the first ingredient. We are contacting Turkish debtors by phone calls. Also we send e-mail that gives us speed and permanence these days. But this situation should be the complementary in the debt recovery process. Because a correct verbal communication in Turkish plays the leading role.
Reaching your Turkish customer by phone will enable them to take it serious. Plus, it shows that you are following debt collection process very closely. This perception is valid not only in Turkey, but also in anywhere around the world. During these phone calls, always be demanding, clear and kind. A long phone conversation does not necessarily mean an effective communication.
Turkish Debt Collection Experts Properties
Debt collection specialists should also be precise. Also they be able to listen carefully as well as they talk. It is equally important to give an exact day of payment. And Turkish debt collection experts follow this phone conversation with an email. Both phone calls and a follow-up email, will create a sense of responsibility in your Turkish customers. So they will give you an opportunity for the right planning during the debt collection process.
Sustainable Business Relationships
Kind and clear language is the key to every step to be taken. Also it should be within the framework of corporate culture and professionalism . This approach is a very important issue in order to maintain the continuity of the established business. The dunning process in Turkey should be conducted carefully. Because Turkish debtors can easily get offended. If there is an over-persistent approach which is mainly originates from a language barrier. That is why the debt collection process should be performed very smartly and delicately.
There may be outstanding receivables. So most companies may firstly consider taking the case to the court in Turkey. On the contrary, legal action must be the ‘last’ step. This situation is valid both for domestic and foreign debts mainly. Because there are some clear handicaps of a legal process in almost all countries. One of the main handicaps is the long process of taking legal action. Especially we can say this situation for debt recovery for Turkey. Legal enforcement for uncollected debts may take up to 2-5 years. The time is depending on the nature of the debt. For xample supporting documents, city of the Turkish debtor etc..
Another handicap would be the legal fees which would be around %5-10 of the principal debt amount. Together with the lawyer fees, the costs of taking a legal action in Turkey can be very expensive. Above all, even if international creditors spend a considerable amount of money for legal action and wait for many years, there is no guarantee of debt recovery because the debtor company may already go bankrupt, or stop its activities, or has no assets at all.
Leaving Debt Collection To Professionals
If there is an international debt, the first and best step should be to continue with a professional debt collection agency. As ARS Consultancy, we have been leading the debt collection market in Turkey since 2011 and have always aimed at creating an awareness regarding the advantages of working with a collection agency before legal action. We have a considerable amount of experience in international debt collection files and solved thousands of cases with an amicable solution. Our success rate of %78 in debt recovery is just one part of the explanation.
Our debt collection team is composed of highly qualified agents who are carefully selected and trained in order to be able to represent our international clients within their framework of corporate culture. ARS Consultancy is specialized in ‘international’ cases only which also means that each agent within our operation team is fluent in English whereas their mother language is Turkish. In our debt collection team, we also have foreign nationals living in Turkey who speaks other languages fluently as well.
We Love Debt Collection By Mediation
Debt collection trainings are one of the most valuable aspects of our orientation process whoever joins in our operation team. These trainings are composed of the basics of an international trade, finance, law, export and import in addition to the programs of developing personal skills such as mediation and negotiation techniques.
ARS Consultancy is Turkey’s first international collection agency, and we love to avail our clients by collecting their debts as well as to contribute their cash flow management. It is always a pleasure to see both creditors and debtors continue working again in the future after our involvement to solve a debt conflict and complete a successful debt recovery in Turkey.
Above all, ARS Consultancy offers pre-legal debt collection services in Turkey with No Recovery No Fee, without asking any fees in advance or surprise costs. Our foreign clients only pay the commission after we recover money from their Turkish debtors. Please contact us by phone +90 212 296 9147 or email firstname.lastname@example.org in order to get a commission quote. Our office is located in Istanbul and we are always ready to provide a free consultation.
International Debt Collection and Risk Management Exp. Asst. | ARS Consultancy