Malaysia 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:
- The local cultures
- The languages
- The laws
- Are in the same time zones
Herewith details of our debt collection service Malaysia
Location of debt recovery office in Malaysia?
Kuala Lumpur
Number of debt collection staff?
6-10 staff in total
How long have you been operating a debt recovery service in Malaysia?
2-3 years
What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)?
Both B2B debt recovery and B2C debt recovery but mainly concentrate on B2B
Statute of Limitation in Malaysia?
6 years
How EU (European Union) laws affect debt collection in Malaysia?
Malaysia does not come under EU laws and regulations
How many companies registries in Malaysia for businesses (i.e. UK has just 1 central registry)?
One central registry in Kuala Lumpur
General comments regarding the process in Malaysia for debt collection and how differs from UK debt collection and other European countries:
What is the debt collection process in Malaysia?
Same as Singapore, whose standard process involve calls dunning, letters sending, site visits and worst case scenario litigation (subjected to creditors’ approval since this will be out of pocket expenses.
Average length of time to collect a debt?
Usually 3 months and below to determine the collectability of the cases. Time may increase in the event of litigation and / or arrangement to settle by monthly instalments
Can late payment fees / interest to be added to claims?
Subjected to whether its in agreement and acknowledged upon. Late payment and interest cannot be forced upon. Having said this, most debtors would only pay off the principal amount though, if they have the intention to pay.
Details on legal service / process in Malaysia?
Similar to that as in Singapore
Specialist Debt Recovery Experts
There are many unique requirements to recovering international debts in all countries including Malaysia debt collection services which differ from the UK debt collection agency services 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.
