The Bao Lyon Group, LLCIs it recoverable?

A survey reveals that the longer an account remains delinquent, the lower the probability of a full recovery.
Survey results indicate a sharp decline in the likelihood of fully recovering a delinquent receivable as the period of delinquency increases.

Time: The general rule that the longer a debt is outstanding, the harder it is to collect, remains true.
Type of debt: The kind of debt plays a significant role in recovery. For example, B2B debts generally have higher recovery rates (30–70%) than consumer debts, while medical debt is notoriously difficult to recover (15–25%).
Industry statistics: Broader industry averages also differ from the figures cited. Recent reports show average collection success rates ranging from 11% to 19%.
Collection strategies: The methods used for collection also impact the success rate. Agencies that use advanced tools like skip tracing and credit reporting tend to have higher recovery rates. For accounts under 90 days past due, early and consistent follow-up is more likely to yield payment.
Economic conditions: Broader economic conditions can affect recovery rates. Default recovery rates are known to be volatile and cyclical.

Since industries and international markets do not perform uniformly, it is critical for your organization to have access to experienced professionals who can recommend a proactive plan of action.

Studies confirm that proactively managing accounts receivable is crucial. Allowing delinquent accounts to age severely impacts your company's liquidity and consumes valuable management and staff time that could be dedicated to more productive tasks. Businesses must adopt a firm approach to past-due receivables and seek expert guidance when internal efforts prove insufficient. Contact us today for a complimentary evaluation of your situation.

How recoverable is your money?

At 30 Days is estimated to be 94% recoverable = ¢ .94 of every US Dollar
At 60 Days is estimated to be 85% recoverable = ¢ .85 of every US Dollar
At 90 Days is estimated to be 74% recoverable = ¢ .74 of every US Dollar
At 180 Days is estimated to be 58% recoverable = ¢ .58 of every US Dollar
At 270 Days is estimated to be 43% recoverable = ¢ .43 of every US Dollar
At 360 Days is estimated to be 27% recoverable = ¢ .27 of every US Dollar
At 720 Days is estimated to be 14% recoverable = ¢ .14 of every US Dollar

*International debt recoverability will vary based on: geographical location, currency and local recoverability laws.

The "statute of limitations" factor

A statute of limitations is a law that establishes a maximum time frame for initiating legal proceedings after a damage or injury has occurred. Key aspects include:

Varies by case: The specific time limit is not universal but depends on the type of legal action.
Dual purpose: Rooted in early Roman law, these statutes serve two primary goals:

Promote timely action: They encourage parties to pursue their cases promptly, when evidence is fresh and reliable.
Prevent unfair claims: They protect potential defendants from fraudulent or "stale" claims that arise long after evidence and witness recollections have faded.

Applies broadly: Statutes of limitations are a fundamental principle in European and U.S. law, applicable to both civil and criminal cases.

*The world rules and regulations are in a constant change. The statute of limitations may change in countries due to law updates, modifications and government political influence. Those changes might not be reflected immediately in the global description provided.

This summary of International Statute of Limitation laws has been researched with the assistance of our local listees in each country. Laws change and we suggest that you verify this information for yourself. Always consult with a local listed law firm. THE BAO LYON GROUP, LLC. DISCLAIMS ANY LIABILITY FOR DIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES RESULTING FROM RELIANCE OF THIS INFORMATION BY ANY PARTY WHATSOEVER UPON THE LEGALITY AND ACCURACY OF THE CONTENTS THEREOF.

Letters Rogatory

Letters rogatory, also known as letters of request, are formal requests from a court in one country to a court in another country seeking judicial assistance. The most common forms of assistance sought through letters rogatory are:

Service of process: This involves the official notification of legal documents to individuals or entities in the foreign country.
Taking of evidence: This refers to gathering testimony or documents from witnesses located in the foreign country for use in legal proceedings in the requesting country.

In cases where direct transmission between courts is not possible, letters rogatory may require the involvement of diplomatic or consular channels for transmittal.
This method is generally used when there are no treaties or agreements between the two countries to facilitate the requested judicial assistance. It is important to note that executing these requests can be a lengthy process due to the involvement of diplomatic channels and the need to follow the judicial procedures of the requested country.

Service by Agent

A process server is a neutral, third-party professional tasked with delivering legal documents to defendants, witnesses, or other parties named in a legal action. This delivery, or "service of process," is a crucial component of due process, as it formally notifies individuals of legal proceedings and their obligation to respond.

Role and function

Deliver legal documents: Process servers deliver a range of documents, including summonses, complaints, subpoenas, writs, and eviction notices.
Verify proper service: They must ensure that documents are served in accordance with the laws of the relevant jurisdiction. Different states and countries have distinct rules governing who can be served, and when and where delivery can occur.
Provide proof of service: After successful delivery, the process server completes an affidavit of service, which is filed with the court as evidence that the documents were served correctly.

Domestic and international service
Process-serving can be complex, especially when legal matters cross borders.

Domestic service: The server must comply with the specific rules and regulations of the local jurisdiction.
International service: This requires navigating treaties like the Hague Service Convention or using Letters Rogatory, depending on the country. It often involves different government channels and translation requirements.

Translation & Authentication Services

Leveraging our global network of service providers, we offer high-quality document translation services in over 75 languages. For documents requiring legal recognition, our partners are qualified to handle all authentication requirements, ensuring your translated documents are accurate and legally compliant.