Collection Services & Credit Checks
GACC Midwest supports German companies with collection services and credit checks in the US.
The US is one of the most important trade partners for German companies. Unfortunately, some US clients make late payments, if not at all. GACC Midwest can facilitate resolution through an out-of-court settlement as this presents a cheaper solution for German companies, resulting in maximum monetary recovery. Legal proceedings in the US are very expensive for various reasons and can lead to high costs - even in the case of a successful petition. From experience, legal proceedings tend to only provide significant returns if the debt claim totals more than USD 30,000.
Effective Debt Claim Management
Throughout the process, GACC Midwest will act as an intermediary, which positions us to open channels of communication. This facilitates the resolution of misunderstandings and negotiation between parties to achieve a quick and uncomplicated resolution with payment of outstanding balances.
- GACC Midwest's first service is a complimentary consultation based on a review of the situation in order to determine the prospect of a successful resolution. This will determine whether or not we accept the case. We treat all correspondence and documentation related to the case confidentially
- If we accept the case, we begin by contacting the debtor by phone and in writing to ensure a response, then conclude when the outstanding allowances have been paid
Advantages to You
- GACC Midwest will act as a professional and objective third party intermediary between the creditor and debtor to resolve misunderstandings between both parties
- We are on-site in the US, which helps pressure the debtor more than collection letters and calls about payment from Germany
- Our team utilizes extensive knowledge of both US and German business and negotiation cultures
- Except a low base fee, commission is incurred only after successful completion of the case
GACC Midwest requests credit information about your business partner in the form of a company report to understand the creditworthiness and the payment habits of your partner company. This knowledge can prevent a partnership with an unreliable company so debt claim situations can be avoided altogether.
“With the German American Chamber of Commerce of the Midwest, Inc. we found a competent contact in the US that helped us with cost-efficient debt collection. It is especially important that the debtor senses the far reaching influence of the creditor, and therefore realize that in no account can they renege on the contract.”
H + G BANK Heidelberg Kurpfalz