Debt Collection South Korea

South Korea 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:

1. The local cultures
2. The languages
3. The laws
4. Are in the same time zones

Herewith details of our debt collection service Korea

Number of debt collection staff?

About 400

How long have you been operating a debt recovery service in South Korea?

Since 1995

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 South Korea?

4 years

How EU (European Union) laws effect debt collection in South Korea?

Not at all

How many companies registries in South Korea for businesses (i.e. UK has just 1 central registry)?

1 Registry

Average length of time to collect a debt?

This varies from case to case, but on average it is a year.

Can late payment fees / interest to be added to claims?

No

Details on legal service / process in South Korea?

In the case of overseas bonds, foreign creditors give up most of them due to high legal costs.

Specialist Debt Recovery Experts

There are many unique requirements to recovering international debts in all countries including Korea 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.