Can a foreign debt be collected in UK after brexitLast modified: November 20, 2023
Can a foreign debt be collected in UK after brexit
One of the less common queries we get is can a foreign debt be collected in UK after Brexit. It is mainly from concerned individuals and businesses who are owed money from people that have returned to the UK. The good news is that the answer to this question is yes.
Frontline Collections have helped many Businesses and private individuals recover what they are owed with the need for expensive legal recourse. Simply because somebody has returned to the UK or is living in the UK, it does not mean that they do not have to pay their debt.
This applies to commercial debts as well as personal debts. There have been many sectors that have seen a sharp rise in the increase of UK citizens not paying what they owe. Some may have defaulted on financial agreements or owe money for goods and services provided.
One such area has been people who own or have owned properties across Europe. There has been a sharp number of loan sales undertaken by banks across Europe looking to clear up problematic debts from holiday home owners. Often individuals have purchased property that has fallen into negative equity so they simply abandon them leaving unpaid arrears. They make the mistake of thinking that the debt may not follow them to the UK.
Debt in the UK post brexit can be recovered by professional debt collection agencies. A European enforcement order can be obtained induce payment from a debtor that has returned or resides in the UK. Very often this is not necessary. This one of the reasons why we often get asked the question, can a foreign debt be collected in uk after brexit.
English law provides room for the enforcement of foreign judgments under common law and under five different enforcement regimes based upon international instruments. The choice of the appropriate action can depend on which country the judgment was obtained. Also there is the question of whether the judgment was obtained prior to the brexit transition.
The cost of the legal route for recovering a foreign debt in the UK can be very excessive. Working with a debt collection agency mitigates these costs massively. Legal action tan then be used as a last resort option. Seeking professional advice is imperative in these situations especially if wondering can foreign debt be collected in UK after Brexit.
Whether it is asking the question of can a foreign debt be collected in the uk after brexit or just can a foreign debt be collected in the uk, it is still yes.
At Frontline Collections, we pride ourselves on having helped many foreign nationals and foreign businesses collect uk debts from their customers. As part of a basic service offerings, we provide a free analysis of the debt in question. We confirm whether or not it is legally collectable under UK laws. We also provide free preliminary investigations into the debtor and try to measure their ability to pay.
Debt Collection is rarely a black and white process as there are factors to be considered. If you are owed money in the UK for a foreign debt after Brexit or irrespective of Brexit, speak to our professional friendly team today. We can offer advice on the problem and advise of the possible options to collect your foreign debt in the UK.
Getting informed advice from our Debt Collection professionals can mean collecting your foreign debt or not getting anything at all. Our Free initial advice could save you a lot in the long run. We cater for most service sectors and deal with all types of debt collection. From Unpaid School fees through to debt collection for unpaid auction fees, let the experts help you.