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. 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 Cambodia
Location of debt recovery office in Cambodia?
Phnom Penh. All debt collection letters are sent by the local head office.
Number of debt collection staff?
6 employees. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response results from debtors.
How long have you been operating a debt recovery service in Cambodia?
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 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 debt collection 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.
Cambodia 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 Cambodia Company Searches 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.
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.