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 results from debtors.
How long have you been operating a debt recovery service in Hong Kong?
Over 10 years
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.
How EU (European Union) laws effect debt collection in Hong Kong?
No real effect
How many companies registries in Hong Kong for businesses (i.e. UK has just 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. All cases are initiated with a debt recovery letter sent to the debtor.
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 to be added to claims?
Yes in accordance with the contracts in question
Details on legal service / process in Hong Kong?
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 Tracing Agents
Creditreform’s debt collection company service also uses expert local Hong Kong 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.