English: Loan payment schedule of a 1-year, fixed-size payment loan with 3% monthly interest. Shows the accumulation of the interest, the payments and how much of the total cost consists of interest. The effective annual percentage rate is calculated. (Photo credit: Wikipedia)

How to Track Down Debtors Around the World

It is becoming less and less common for businesses to know their customers personally, especially if those customers live on a different continent. There was a time when companies only did business with their neighbors, people with whom their kids went to school. The internet has made it possible now to have customers who do not even speak the same language you do, much less have the same laws. While such a global economy has proved beneficial for many, it is not without its challenges. When laws vary by country, how will your company enforce contracts when payments are past due?