Cambodia 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.
Main reasons why a local country debt recovery agency is so important rather than trying to recover from the UK are as follows:
The local International Debt collection Partners know:
- The local cultures
- The languages
- The laws
- Are in the same time zones
Herewith details of our debt collection service Cambodia
– Location of office in Cambodia:
Phnom Penh
– Number of staff:
6 employees
– How long been operating in Cambodia
Since 2012
– What type of debts do you recover?
We recover both commercial debt collection (B2B) and consumer debt collection (B2C)
– Statute of limitation in Cambodia
B2B: 5 years
B2C: 2 years
– How EU laws effect debt collection in Cambodia?
We have not foreseen any issue on this.
– How many company registries in Cambodia for businesses? (i.e. UK just has 1 central registry)
Only one central registry in Cambodia
General comments regarding process in Cambodia for debt collection and how differs from UK / other European countries:
– What is the debt collection process in Cambodia?
There are 3 steps: Negotiation, then Demand Letter from lawyer, then court
– Average length of time to collect?
Around 1 month for process outside court or 5 to 1 year for court process.
– Can late payment fees / interest be added to claims?
Legally yes if it is stated in the agreement but in practice, it depends on the intention of the parties for claim outside court. For court, yes, compensation for damage may be claimed.
– Details on legal service / legal process in Cambodia
Outside court, lawyer can negotiate with the debtor and/or issue a demand letter to the debtor.
Small claim mostly, it is difficult to do it through court and we are not willing to handle small claim at court.
There are many unique requirements to recovering international debts in all countries including Cambodia 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 Debt collectors UK. This method of international debt collection sets Creditreform aside from the competition who in many cases try and recover debts from a UK debt collector 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.
