DEBT COLLECTION IN KUWAIT

The debt collection is not an easy process for many B2B companies worldwide. Kuwait is one of those countries where it could seem impossible to recover the money in the B2B sector. Among the things which make this process seem hard to perform are language barriers, peculiarities of business culture, legal regulations.

Even though many companies prefer to recover their payment with the help of court proceedings, outsourcing debt-collection companies is still one of the most popular solutions to the issue. In Asia, in general, the payment culture is well-established, and most of the companies are rarely late with their payments. On the other hand, there are still companies that do not follow common business practices in terms of payment and are late with their payment. In such cases, in the commercial fields companies tend to turn to debt collection agencies for help.

The process of debt collection may seem like an easy task to perform at glance, however in reality it is not what it looks like. The most important task for our lawyers in CIS DRS is to ensure that we do not just recover our clients` funds, but also maintain the goodwill and integrity of businesses we represent.

First of all, we examine the cases and conduct additional research about the debtors. It helps us to get a better understanding of the financial situation of the company before interacting with the debtor. After we get a clear picture, we start contacting the debtors by email by sending a demand letter. Following the email, we call debtors to inform them about the issues. Our negotiation lawyers use various techniques to solve the situation in the best possible way. In case the debtor is not aimed at an amicable settlement, we draft a recommendation to our clients to consider legal actions.

In general, many progressive companies outsource debt collection agencies because they believe that it is more efficient to hire professionals to perform one task. Debt collection is time-saving. Normally the payments are recovered within 3 months. Companies do not have to worry about any difficulties which may occur in negotiations since they will be avoiding them. Last but not least, many companies in Kuwait use that practice since they are able to recover more when engaging 3rd parties.

CIS DRS has established many partnerships over the last 10 years of debt collection. With the help of our local offices, we are able to communicate with the debtors in any language convenient to them, understand the specifics of legislation in the field, and provide excellent service. Our approach is based on a founding principle of excellent client service as we understand that in B2B spheres of business what matters is the outcome. We understand the difficulties which may occur during debt collection in Kuwait, that is why with our long-established practice in Asia, we are able to guarantee you a successful recovery of payments.

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