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 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 Korea
Number of staff :
About 400
– How long been operating in Korea :
Since 1995
– 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 Korea :
4 years
– How EU laws effect debt collection in Korea?
Not at all
– How many registries in Korea for businesses? (i.e. UK just has 1 central registry)
1 Registry
– Average length of time to collect?
This varies from case to case, but on average it is a year.
– Can late payment fees / interest be added to claims?
No
– Details on legal service / process in Korea :
In the case of overseas bonds, foreign creditors give up most of them due to high legal costs.
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.
