SOURCE: Direct Recovery Associates, Inc.

debt collection, debt collection services, debt collection agency

November 09, 2010 06:00 ET

Direct Recovery Associates, Inc. Debt Collection Agency Founder Featured in China Daily

NEW YORK, NY--(Marketwire - November 9, 2010) - Direct Recovery Associates Founder, Richard Hart, was quoted extensively in an article in China Daily, "Climbing Mountains To Collect Debt," discussing the increased credit and debt collection demands that exist between the US and China. As more businesses in the US and elsewhere trade with Chinese companies, there is a growing need for debt collection services in China. This increased need represents a significant growth opportunity for Direct Recovery Associates, which has established relationships with clients and collection law firms in China.

"Ten years ago, you didn't see many claims collect out of China. Nowadays, they are very common," said Richard Hart, general manager at Direct Recovery Associates, an international debt collection agency based in California.

Hart estimated that the company's debt collecting activities in China have gone up by 20 percent each year. He cites the financial crisis and the Internet as primary factors. "The barrier in doing business internationally is breaking down," said Hart. "In the past, no business would have been conducted without a letter of credit. Funds were held in trust. Now, companies starved for business are willing to sell goods without any claims. They are more willing to do business with companies they have never worked with before."

Obviously China is an enormous country, but aside from geography, the other challenge is China doesn't have the same legal structure other countries have. Hart is quoted as saying, "Logistically, collecting debts from Chinese companies can be a problem. If debtors in US refuse to pay, we can file a lawsuit to make them pay. In China, they don't have a legal system in place most of the time. It can be challenging if the debtor is in rural China or remote cities. But in bigger cities in China, you can file a lawsuit," said Hart.

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About Direct Recovery Associates, Inc.:
Direct Recovery Associates, Inc. is a debt collection agency specializing in collecting commercial and professional service claims throughout the U.S. and internationally. Their collectors and attorneys pride themselves on their persuasiveness, persistence and professionalism, the secret to Direct Recovery's high success rate and unusually high level of client satisfaction.

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