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How to Handle Unpaid Invoices for Tech Exports to Sweden

Handling unpaid invoices for tech exports to Sweden can be a complex and challenging process. Understanding the recovery system is crucial for companies seeking to recover funds from debtors. In this article, we will explore the three phases of the recovery system and discuss key takeaways for effectively managing unpaid invoices in the tech export industry to Sweden.

Key Takeaways

  • Understand the 3-phase Recovery System for recovering company funds
  • Be aware of the actions taken in each phase, including skip-tracing, legal involvement, and litigation
  • Consider the financial implications and upfront legal costs associated with proceeding to legal action
  • Know the competitive collection rates and factors that influence the amount collected
  • Evaluate the possibility of recovery and make informed decisions based on the investigation of debtor’s assets

Understanding the Recovery System

Phase One

In Phase One, we hit the ground running. Within 24 hours of an unpaid invoice, our team springs into action. We send the first of four letters and employ skip-tracing to gather the best financial and contact information available. Our collectors are relentless, using every tool at their disposal—phone calls, emails, text messages, faxes—to reach a resolution.

Daily attempts are made to contact the debtor for the first 30 to 60 days. It’s a full-court press to recover what’s owed to you.

If these efforts don’t yield results, we don’t waste time. We escalate to Phase Two, forwarding the case to our affiliated attorneys in the debtor’s jurisdiction. Here’s a quick breakdown of our initial contact strategy:

  • First letter sent via US Mail
  • Comprehensive skip-tracing
  • Persistent collector engagement

Remember, this is just the beginning. We’re committed to recovering your funds every step of the way.

Phase Two

Once we escalate to Phase Two, the stakes are higher. We’ve engaged a local attorney within our network, and they’re on the case. Here’s what happens:

  1. The attorney sends a series of stern letters on their letterhead, demanding payment.
  2. The attorney’s team begins persistent phone outreach, complementing the letter campaign.

If these intensified efforts don’t break the deadlock, we’re transparent about it. We’ll send you a detailed update, laying out the issues and our recommended next steps.

We’re committed to clear communication. If Phase Two doesn’t yield results, we’ll guide you through the options, ensuring you’re informed every step of the way.

Remember, our goal is to recover what’s owed to you with minimal fuss. But if it’s time to consider more serious measures, we’re prepared to advise on the potential of litigation and the associated costs.

Phase Three

At the crossroads of Phase Three, we face a critical decision. If the debtor’s assets suggest recovery is unlikely, we recommend closing the case. You’re off the hook for any fees to us or our affiliated attorneys. But if litigation seems viable, the ball’s in your court. Choose to proceed, and upfront legal costs will apply—typically between $600 to $700. These cover court costs, filing fees, and the like. Should litigation not pan out, rest assured, you owe us nothing further.

Our rates are competitive, structured to the volume and age of claims. Here’s a quick breakdown:

Claims Submitted Accounts < 1 Year Accounts > 1 Year Accounts < $1000 Attorney Placed
1-9 30% 40% 50% 50%
10+ 27% 35% 40% 50%

Remember, opting for standard collection activities remains an option. We’ll continue to chase down the debt through calls, emails, and faxes. The choice is yours—litigate or let us keep at it with persistence.

Frequently Asked Questions

What is the Recovery System?

The Recovery System is a 3-phase process designed to recover company funds from unpaid invoices. It involves sending letters to debtors, skip-tracing, investigation, and legal action if necessary.

How long does Phase One last?

Phase One lasts for 30 to 60 days, during which our collector makes daily attempts to contact the debtors and resolve the account. If all attempts fail, the case moves to Phase Two.

What happens in Phase Two?

In Phase Two, the case is immediately forwarded to one of our affiliated attorneys within the debtor’s jurisdiction. The attorney will draft letters demanding payment and attempt to contact the debtor via telephone.

What are the options in Phase Three?

In Phase Three, the options are to close the case if recovery is not likely, or proceed with legal action. If legal action is chosen, upfront legal costs such as court fees will be required.

What are the rates for the Recovery System?

The rates depend on the number of claims submitted and the age and amount of the accounts. Rates range from 27% to 50% of the amount collected.

What happens if litigation fails?

If attempts to collect via litigation fail, the case will be closed, and the company will owe nothing to the firm or the affiliated attorney.


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