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 a debt collection agency 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 debt recovery office in Cambodia?
Phnom Penh
Number of debt collection staff?
6 employees
How long have you been operating a debt recovery service in Cambodia?
Since 2012
What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)?
We recover both commercial debt collection (B2B) and consumer debt collection (B2C)
Statue of Limitation in Cambodia?
B2B: 5 years
B2C: 2 years
How EU (European Union) laws effect debt collection in Cambodia?
We have not foreseen any issue on this.
How many companies registries in Cambodia for businesses (i.e. UK has just 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 a debt?
Around 1 month for process outside court or 5 to 1 year for court process.
Can late payment fees / interest to 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 / 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.
Specialist Debt Recovery Experts
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.
