Debt Collection Agency in Hong Kong
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1. Costs – No Win No Fee!
Having long standing relationships with all our overseas partners we have agreements to provide these services on a NO WIN NO FEE basis charging the agreed commission rate against monies recovered only.
2. Coverage in Hong Kong
Hong Kong is divided into 18 districts with over 7.4 million people making it one of the most highly densely populated places in the world. Our local office is in Kowloon ensuring we are centrally located to recover debts throughout all of Hong Kong.
3. Local Experience
Unlike many of our competitors all cases are handled by the local office or partner. The reasons for this are they speak the debtors’ language, in this case Cantonese and English are the most widely spoken. We understand the local cultures and know all the legal processes. These are reasons why Creditreform are the ideal people to help you in collecting debts from overseas.
4. Statute of Limitation in Hong Kong
6-7 years but there are special exemptions so whatever the age please contact us and we will advise if we can assist with your claim
How to Instruct Us
We simply require the following details:
PLEASE CALL US ON 0121 442 5330 FOR FURTHER DETAILS
Or ask us to call you – just leave us your details:
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Case Study – USD 100,000 recovered from Hong Kong Debtor
Initiation of Case
A freight forwarding client in Dubai, UAE had a USD 100,000 debt against a debtor in Kowloon, Hong Kong. The debt related transportation of goods on behalf of the debtor company. The debtor had agreed an instalment plan to settle the debt but did not keep up the payments.
Debt Collection Processes
Upon receipt we forwarded the case to our local partner in Hong Kong. They then immediately sent the initial dunning letter to the debtor stating the amount owed. Following an intense process the partner managed to re-commence the payment plan on strict terms. Despite many hurdles including COVID our partner effect a full settlement for the client.
Summary
The client was more than happy with the service and communications provided.
Hong Kong Debt Collection – No Win No Fee
Creditreform operates a global specialist International debt collections service. We have local offices and fully approved expert international debt collection agency partners in every country worldwide. All our International debt collection agency partners and offices operate on a No Win No Fee basis charging an agreed commission against monies recovered only. All our international offices and partners initiate the collection processes by sending the debtors a debt collection letter to introduce their involvement.
Main reasons why a local country debt recovery agency is so important rather than trying to recover from a debt collection agency UK are as follows:
The local International Debt collection Partners know:
The local cultures
The best methods of initiating debt recovery letters and processes
The languages
The laws
Are in the same time zones
Herewith details of our debt collection service Hong Kong:
Location of debt recovery office in Hong Kong?
Kowloon. All debt collection letters are sent by the local head office.
Number of debt collection staff?
Several staff. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response result s from debtors.
How long have you been operating a debt recovery service in Hong Kong?
We have been operating an Asia debt collection service on a no win no fee basis in Hong Kong for over 10 years. Hong Kong is included on our debt collection agency list.
What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)?
We handle both Business to Business debt recovery cases and Business to Consumer debt collections cases. There is different content for business to business debt collection letter templates and business to consumer debt collection letters templates.
Statue of Limitation in Hong Kong?
The deadline to start a civil action for breach of a commercial contract must be instituted within 6 years.
Hong Kong civil litigation statute of limitations is a law that time limits a plaintiff’s right to bring a claim against a defendant. The statute of limitations in Hong Kong is 6-7 years. However, if an action has been taken within this time then the statute of limitations time will be extended to account for this. Once the specified time period elapses then no action can be taken through the legal processes unless the plaintiff is able to prove exceptional circumstances. Other Statute of Limitations include:
Hong Kong Open Account Years – 7 years
Hong Kong Promissory Notes – 7 years
Hong Kong Written Contracts – 7 years
Hong Kong Oral Agreements – 7 years
How EU (European Union) laws effect debt collection in Hong Kong?
No real effect in Hong Kong.
There is currently no Free Trade Agreement that have been signed or any ongoing negotiations between Hong Kong and European Union.
How many companies registries in Hong Kong for businesses (i.e. UK has just 1 central registry)?
There is 1 company registry in Hong Kong which is called Hong Kong Integrated Companies Registry Information System (ICRIS) – Companies Register located at 14th floor, High Block, Queensway Government Offices, 66 Queensway, Hong Kong.
We have access to Hong Kong Company Registry searches to find out who further background information on all Hong Kong companies.
What is the debt collection process in Hong Kong?
Similar process to the UK. All cases are initiated with a debt recovery letter sent to the debtor.
Average length of time to collect a debt?
The average time taken to recover a Hong Kong B2B debt collection case varies from case to case but can take up to 12 months depending on whether the debts are being contested.
Can late payment fees / interest to be added to claims?
Yes, fees can be added for Hong Kong debt collection cases according to local law.
Details on legal service / process in Hong Kong?
The legal system in Hong Kong is similar to the UK
Hong Kong Business Credit Reports
Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. We provide freshly investigated Hong Kong Credit Reports which can be done prior to trading to make sure the company you will be dealing with can meet the commitment or once the debt becomes overdue to ensure the debtor can meet the amount owed.
Hong Kong Skip Tracing Agents
Creditreform’s debt collection company service also uses expert local Hong Kong skip tracing agent services to locate any absconded debtor. This debtor tracing service is provided on a No Find No Fee basis only charging for a successful trace.
Specialist Debt Recovery Experts
There are many unique requirements to recovering international debts in all countries including Hong Kong debt collection services which differ from the UK and therefore it is very important that cases are handled directly by our expert international debt collection agencies and not from the UK office. This method of international debt collection sets Creditreform aside from the competition who in many cases try and recover debts from a UK office base only. Using the local offices and partners enables us to achieve a far greater success rate and our No Win No Fee service together with competitive commission rates against monies recovered only ensures you get the best service.
Hong Kong Debt Collection Partners in the following Hong Kong Cities
- Kowloon Debt Collection Agency
What is the legal system in Hong Kong?
The Hong Kong legal system is principally based on English common law.
What is the name of the Government Gazette in Hong Kong?
The Gazette in Hong Kong is called the Government of the Hong Kong Special Administrative Region Gazette – 香港特別行政區政府憲報.
What is the Supreme Court in Hong Kong?
The Supreme Court for Hong Kong is called the Court of Final Appeal (de jure, Hong Kong).
Case Study – USD 100,000 recovered from Hong Kong Debtor
Initiation of Case
A freight forwarding client in Dubai, UAE had a USD 100,000 debt against a debtor in Kowloon, Hong Kong. The debt related transportation of goods on behalf of the debtor company. The debtor had agreed an instalment plan to settle the debt but did not keep up the payments.
Debt Collection Processes
Upon receipt we forwarded the case to our local partner in Hong Kong. They then immediately sent the initial dunning letter to the debtor stating the amount owed. Following an intense process the partner managed to re-commence the payment plan on strict terms. Despite many hurdles including COVID our partner effect a full settlement for the client.
Summary
The client was more than happy with the service and communications provided.
Creditreform operates a global specialist International debt collections service. We have local offices and fully approved expert international debt collection agency partners in every country worldwide. All our International debt collection agency partners and offices operate on a No Win No Fee basis charging an agreed commission against monies recovered only. All our international offices and partners initiate the collection processes by sending the debtors a debt collection letter to introduce their involvement.
Main reasons why a local country debt recovery agency is so important rather than trying to recover from a debt collection agency UK are as follows:
The local International Debt collection Partners know:
The local cultures
The best methods of initiating debt recovery letters and processes
The languages
The laws
Are in the same time zones
Herewith details of our debt collection service Hong Kong:
Kowloon. All debt collection letters are sent by the local head office.
Several staff. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response result s from debtors.
We have been operating an Asia debt collection service on a no win no fee basis in Hong Kong for over 10 years. Hong Kong is included on our debt collection agency list.
We handle both Business to Business debt recovery cases and Business to Consumer debt collections cases. There is different content for business to business debt collection letter templates and business to consumer debt collection letters templates.
The deadline to start a civil action for breach of a commercial contract must be instituted within 6 years.
Hong Kong civil litigation statute of limitations is a law that time limits a plaintiff’s right to bring a claim against a defendant. The statute of limitations in Hong Kong is 6-7 years. However, if an action has been taken within this time then the statute of limitations time will be extended to account for this. Once the specified time period elapses then no action can be taken through the legal processes unless the plaintiff is able to prove exceptional circumstances. Other Statute of Limitations include:
Hong Kong Open Account Years – 7 years
Hong Kong Promissory Notes – 7 years
Hong Kong Written Contracts – 7 years
Hong Kong Oral Agreements – 7 years
No real effect in Hong Kong.
There is currently no Free Trade Agreement that have been signed or any ongoing negotiations between Hong Kong and European Union.
There is 1 company registry in Hong Kong which is called Hong Kong Integrated Companies Registry Information System (ICRIS) – Companies Register located at 14th floor, High Block, Queensway Government Offices, 66 Queensway, Hong Kong.
We have access to Hong Kong Company Registry searches to find out who further background information on all Hong Kong companies.
Similar process to the UK. All cases are initiated with a debt recovery letter sent to the debtor.
The average time taken to recover a Hong Kong B2B debt collection case varies from case to case but can take up to 12 months depending on whether the debts are being contested.
Yes, fees can be added for Hong Kong debt collection cases according to local law.
The legal system in Hong Kong is similar to the UK
Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. We provide freshly investigated Hong Kong Credit Reports which can be done prior to trading to make sure the company you will be dealing with can meet the commitment or once the debt becomes overdue to ensure the debtor can meet the amount owed.
Creditreform’s debt collection company service also uses expert local Hong Kong skip tracing agent services to locate any absconded debtor. This debtor tracing service is provided on a No Find No Fee basis only charging for a successful trace.
There are many unique requirements to recovering international debts in all countries including Hong Kong debt collection services which differ from the UK and therefore it is very important that cases are handled directly by our expert international debt collection agencies and not from the UK office. This method of international debt collection sets Creditreform aside from the competition who in many cases try and recover debts from a UK office base only. Using the local offices and partners enables us to achieve a far greater success rate and our No Win No Fee service together with competitive commission rates against monies recovered only ensures you get the best service.
The Hong Kong legal system is principally based on English common law.
The Gazette in Hong Kong is called the Government of the Hong Kong Special Administrative Region Gazette – 香港特別行政區政府憲報.
The Supreme Court for Hong Kong is called the Court of Final Appeal (de jure, Hong Kong).
