Debt Collection Handbook U.S. 2024

Debt Collection Reports

  • USA
  • Agriculture,
  • Automotive/Transport,
  • Chemicals/Pharma,
  • Construction,
  • Consumer Durables,
  • Electronics/ICT,
  • Financial Services,
  • Food,
  • General economic,
  • Machines/Engineering,
  • Metals,
  • Paper,
  • Services,
  • Steel,
  • Textiles

30th October 2024

Having drawn from the expertise of Atradius Collections' local offices, the International Debt Collection Handbook explains the different regulations and procedures for debt collections in the U.S.

Amicable collections

General information

 

 

 

 

 

 

 

 

Handbook Report Page - Amicable Phase

 

 

 

 

 

 

 

 

We maintain a professional collection process and focus on the relationships between you and your debtors at all times. We pursue debtors within the bounds of federal and state law and liaise with you and our relationship management team to ensure that we serve you efficiently and effectively.

Our collectors work to ensure that if the initial collection phase isn’t productive, the file is adequately documented to fully utilise the second tier of our collection process – the legal phase.

When there is a dispute, we aim to reach an amicable solution between you and your debtor. We do this by analysing all the contractual documents (e.g. signed contracts, orders, confirmations, invoices, delivery notes, as well as standard terms previously agreed to). All of our investigations are completed with the assistance and agreement of our legal team.

Local agents

We have a network of local attorneys to assist with collections if necessary.

Interest

In most states, if you don’t have any signed contractual agreement that states interest will be owed, then we can’t pursue interest or add it. It will only be charged if you have a contract validating it. If the contractual interest is greater than 4%, then the interest we charge will match that of the agreed amount.

The Debt Collection Handbook presents a snapshot of the U.S.' economic situation and covers the following topics:

  • Debt collection costs
  • Prescription
  • Payment methods
  • Types of companies
  • Safeguard measures
  • Legal procedures & legal system
  • Enforcement in debt, movable and immovable proprety
  • Insolvency proceedings
  • Arbitration and mediation

To read more about the steps and procedures undertaken in debt collections in the U.S. and other countries:

 

 

Disclaimer

Each publication available on or from our websites, such as, but not limited to webpages, reports, articles, publications, tips and helpful content, trading briefs, infographics, videos (each a “Publication”) is provided for information purposes only and is not intended as a recommendation or advice as to particular transactions, investments or strategies in any way to any reader. Readers must make their own independent decisions, commercial or otherwise, regarding the information provided. While we have made every attempt to ensure that the information contained in any Publication has been obtained from reliable sources, Atradius is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in any Publication is provided ’as is’, with no guarantee of completeness, accuracy, timeliness or of the results obtained from its use, and without warranty of any kind, express or implied. In no event will Atradius, its related partnerships or corporations, or the partners, agents or employees thereof, be liable to you or anyone else for any decision made or action taken in reliance on the information in any Publication, or for any loss of opportunity, loss of profit, loss of production, loss of business or indirect losses, special or similar damages of any kind, even if advised of the possibility of such losses or damages.