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.
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 Hong Kong
– Location of office in Hong Kong
– Number of staff
– How long been operating debt collection in Hong Kong
Over 10 years
– What type of debts do you recover? Do you do commercial (B2B) and consumer (B2C) debts?
We recover both commercial debt collection (B2B) and consumer debt collection (B2C)
– Statute of limitation in Hong Kong
The deadline to start a civil action for breach of a commercial contract must be instituted within 6 years.
– How EU laws effect debt collection in Hong Kong?
No real effect
– How many registries in Hong Kong for businesses? (i.e. UK just has 1 central registry)
14th floor, High Block, Queensway Government Offices, 66 Queensway, Hong Kong
General comments regarding process in Hong Kong for debt collection and how differs from UK / other countries in Europe
– What is the debt collection process in Hong Kong?
Similar process to the UK.
– Average length of time to collect a debt?
Up to 12 months depending on whether the debts are being contested.
– Can late payment fees / interest be added to claims?
Yes in accordance with the contracts in question
– Details on legal service / process in Hong Kong
Similar to the UK
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.