Japan Debt Collection Services – No Win No Fee
Creditreform operates a global specialist International debt collection 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. In Japan, the debt collection process is normally started by an attorney.
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 Japan:
– Location of office(s) in Japan
Rapport Haraguchi 2F, 18-12, Taishido 4-chome, Setagaya-ku, Tokyo 154-0004, Japan
– Number of staff
Less than 10 staff
– How long been operating in Japan
– What type of debts do you recover?
We do both commercial (B2B) and consumer (B2C) debts
– Statute of limitation in Japan
Consumer debts, 10 years in general and commercial debts 5 years in general.
Please note that the statute of limitation period will be changed from April 1, 2020.
– How EU laws effect debt collection in Japan?
Data protection law would effect debts collection in Japan.
The governing law of the contract can be EU law in accordance with the conflict of law of Japan.
UK law is popular because of the predictability of the consequences in Japan.
– How many registries in Japan for businesses? (i.e. UK just has 1 central registry)
We have 8 legal affairs bureau in each location where 8 High Court is located.
We also have 42 local legal affairs bureau in the place where the district court is located (other than the place of the location of the High Court of Japan).
– What is the process in Japan?
Upon the receipt of the request of the debts collection, we have reviewed the relevant documents carefully and check whether the debts can be collectable and sufficient documents are provided by the debtor or attorney or debts collection agencies to us.
We then check the conflict of the interest as to whether we have already received the debts collection requests from the other creditors.
We then contact the debtor by e-mail, mail and phone.
If we fail to persuade the debtor to pay the debts amicably, we asked the creditor, its attorney or collection agent to collect the debts legally or through litigation or arbitration.
– Average length of time to collect?
– Can late payment fees / interest be added to claims?
It depends on the governing law of the contract under which the debs are accrued.
Under the laws of Japan, default interest rate of 5-6 percent can be collectable.
There are many unique requirements to recovering international debts in all countries including Japan 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 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.