Search a country below for debt collection:
How to Instruct Us
We simply require the following details:
Full name & address of the debtor
All available contact details of the debtor i.e. contact name(s) / Tel / Mobile / Email(s)
Amount owed (Invoice(s) or Statement will help)
Or ask us to call you – just leave us your details:
Federated States of Micronesia 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. All our international offices and partners initiate the collection processes by sending the debtors a debt collection letter to introduce their involvement.
Main reasons why a local country debt recovery agency is so important rather than trying to recover from a debt collection agency UK are as follows:
The local International Debt collection Partners know:
The local cultures
The best methods of initiating debt recovery letters and processes
The languages
The laws
Are in the same time zones
Herewith details of our debt collection service Federated States of Micronesia:
Location of debt recovery office in Micronesia?
Pohnpei. All debt collection letters are sent by the local head office.
Number of debt collection staff?
Three. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response results from debtors.
How long have you been operating a debt recovery service in Micronesia?
21 years
What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)?
We handle both Business to Business debt recovery cases and Business to Consumer debt collections cases. There is different content for business to business debt collection letter templates and business to consumer debt collection letters templates.
Statue of Limitation in Federated States of Micronesia?
For contracts period is 6 years.
How EU (European Union) laws effect debt collection in Micronesia?
No effect from EU.
How many companies registries in Micronesia for businesses (i.e. UK has just 1 central registry)?
No Registry in FSM.
General comments regarding process in Federated States of Micronesia for debt collection and how differs from UK / other European countries
What is the debt collection process in Micronesia?
Debt collection in the FSM is arduous and time consuming. Those who default tend to do so on multiple accounts. Lawsuits always become necessary to secure a creditor's position, as judgments are enforced here on a first-in-time, first-in-right basis. So the party that sues first and obtains a judgment against a debtor gets first priority with the right to be paid first and in full before the next creditor in line gets anything. Those who wait or fail to file often collect little or nothing.
Even then problems almost always arise because judgment satisfaction by installment payments is the preferred and most effective collection method with some courts loath to issue and then enforce orders providing for a more drastic approach. Once payment orders are issued debtors invariably violate them requiring more court filings seeking contempt orders that typically take 3-6 months or more to process as courts here are often slow to act, although this varies from judge to judge and state to state. When they eventually take action to hold the debtor responsible, the debtor almost always immediately purges contempt by resuming payments for a short while after which he defaults again and the cycle repeats.
Average length of time to collect a debt?
The collection process can vary from months to years depending on nature of the case.
Can late payment fees / interest to be added to claims?
Yes, if included within the contract.
Micronesia Business Credit Reports
Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. We provide freshly investigated Micronesia Credit Reports which can be done prior to trading to make sure the company you will be dealing with can meet the commitment or once the debt becomes overdue to ensure the debtor can meet the amount owed.
Micronesia Skip Tracing Agents
Creditreform’s debt collection company service also uses expert local Micronesia tracing agent services to locate any absconded debtor. This debtor tracing service is provided on a No Find No Fee basis only charging for a successful trace.
Specialist Debt Recovery Experts
There are many unique requirements to recovering international debts in all countries including Federated States of Micronesia 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.
Who are the main trading partners for Federated States of Micronesia?
Which countries border Federated States of Micronesia?
Federated States of Micronesia is an island nation in Micronesia along with Guam, Wake Island, Northern Mariana Islands, Palau, Kiribati, Nauru and Marshall Islands.
Federated States of Micronesia Debt Collection Agency FAQs
1. How does a Debt collection agency in Federated States of Micronesia recover overdue debts?
The debt collection process is initiated by an introductory letter to your debtor stating the amount owed to you and informing them of our involvement. Letters are then followed up with emails and telephone calls. From our experience the most effective part of this process will be the outsourcing to a third party debt collection agency in Federated States of Micronesia as the debtor now has to resolve the debt and can no longer hide or provide lame excuses.
2. How long does the debt recovery agency in Federated States of Micronesia take to process a case?
The debt collection case will be processed immediately up receipt and a letter sent normally by email and post. You will receive an automated confirmation by return.
3. What is the success rate for debt collection agencies in Federated States of Micronesia?
The success rate of the debt recovery case depends on a number of factors including the solvency of the debtor and whether the case has a legitimate dispute. Our aim is to recover every debt that is recoverable.
4. Does the debt recovery agency in Federated States of Micronesia operate a No Win No Fee debt collection?
We take on all debt collection cases on No Win No Fee basis only charging the agreed commission against monies recovered.
5. Why use a local debt recovery agency in Federated States of Micronesia?
The reasons for using a local Federated States of Micronesia debt collection agency than processing from a different country is the debt collector in Federated States of Micronesia speaks the local language, knows the local laws and operates in the same time zones.
6. Are there any debts too old or too small for Federated States of Micronesia debt collection?
We will assess all debt cases, irrelevant of age and size and then advise the best processes to recover these through the Federated States of Micronesia debt collector.
7. How do I instruct the debt collectors in Federated States of Micronesia?
Instructing the debt collectors Federated States of Micronesia is a simple process. You just email details of the debt, debtor and amount to be recovered and the case can be initiated.
8. What evidence do I need to provide when instructing the Federated States of Micronesia debt collector?
When instructing the debt collector in Federated States of Micronesia just provide copies of invoices/statements, debtor contact details and any relevant information you may have to assist with the recovery process.
9. Who does the debtor pay?
In general, the debt collector in Federated States of Micronesia will request payments to be sent directly to the client but if not possible for any reasons will take payment directly. If payment is taken then cleared funds will be processed and sent to client straight away.
10. Can I instruct multiple cases?
You can send unlimited debt case instructions. Our systems will automate volume cases to meet your requirements.
11. Can you trace debtors in Federated States of Micronesia?
Through our network of skip tracing agents we have an extremely high success rate of locating your absconded debtor.
12. How long does the debt collection process take?
On average the debt collections process takes 90 days to resolve an amicable debt recovery case. There are a number of factors that can delay this process but we will keep you informed every step of the way.
13. What are my options if debt collection in Federated States of Micronesia is not successful?
If the debt recovery service is not successful, we will advise you of your options including legal actions. Please note no legal actions or other processes will be taken without prior instruction from you.