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How to Instruct Us
We simply require the following details:
Full name & address of the debtor
All available contact details of the debtor i.e. contact name(s) / Tel / Mobile / Email(s)
Amount owed (Invoice(s) or Statement will help)
Or ask us to call you – just leave us your details:
Myanmar 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 Myanmar:
Location of debt recovery office in Myanmar?
Yangon. All debt collection letters are sent by the local head office.
Number of debt collection staff?
8 staff. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response result s from debtors.
How long have you been operating a debt recovery service in Myanmar?
We have been operating an Asia debt collection service on a no win no fee basis in Myanmar since 2016. Myanmar is included on our debt collection agency list.
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 Myanmar?
3 years in Myanmar.
Myanmar civil litigation statute of limitations is a law that time limits a plaintiff’s right to bring a claim against a defendant. The statute of limitations in Myanmar is 3 years. However, if an action has been taken within this time then the statute of limitations time will be extended to account for this. Once the specified time period elapses then no action can be taken through the legal processes unless the plaintiff is able to prove exceptional circumstances.
How EU (European Union) laws effect debt collection in Myanmar?
EU law does not apply in Myanmar, so it should not affect debt collection in the country .
Myanmar is in discussions over a free trade agreement (FTA) with European Union. This is referred to as an Investment Protection Agreement where negotiations were launched in 2015.
How many companies registries in Myanmar for businesses (i.e. UK has just 1 central registry)?
There is 1 company registry in Myanmar which is called Directorate of Investment and Company Administration located at No.1, Thissa Road, Yankin Township, Yangon, Myanmar.
We have access to Myanmar Company Registry searches to find out who further background information on all Myanmar companies.
What is the debt collection process in Myanmar?
Debt collection takes place in two stages:
(i) amicable collection initiated by a debt recovery letter.
(ii) collection with the help of the police and/or the courts.
In amicable collection, the collection agency's lawyers send a demand letter to the debtor. The collection agency then endeavours, in phone calls and personal visits, to persuade the debtor to pay, sometimes agreeing on payment in instalments.
If amicable collection is unsuccessful, the creditor has to decide whether to pursue the case with police and/or court assistance.
The police can be involved if the debtor committed a crime (e.g., fraud, criminal breach of trust, forgery). Police involvement incentivises the debtor to settle as the creditor can agree to drop the case if payment is made. It should be noted that a representative of the creditor's company has to travel to Myanmar to file the criminal complaint (assisted by the debt collection agency) as this cannot be done by proxy.
Irrespective of police involvement, the creditor may decide to sue the debtor for payment in court.
Average length of time to collect a debt?
Amicable b2b debt collection: approx. 1 month; collection with police assistance: approx. 1 month; collection with court assistance (i.e., law suit): at least 2 years
Can late payment fees / interest to be added to claims?
In practice only if this is explicitly provided for in the contract. In the absence of a clear contractual provision, late payment interest (in practice 9% p.a.) only accrues from the date of acceptance of a law suit by a court of law.
Details on legal service / process in Myanmar?
Debt collection usually starts with a demand letter from the debt collection agency's lawyers. If the creditor decides to pursue the case with the help of the police (and the debt collection agency is successful in getting the police to accept the case), the police would usually invite the suspect (i.e., the debtor) for questioning. In a law suit, the plaint and a writ of summons are served on the defendant by the court's bailiffs.
Myanmar 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 Myanmar 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.
Myanmar Skip Tracing Agents
Creditreform’s debt collection company service also uses expert local Myanmar 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 Myanmar 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.
What is the legal system in Myanmar?
The Myanmar legal system is based on English law.
What is the name of the Government Gazette in Myanmar?
The Gazette in Myanmar is called the Gazette of the Republic of the Union of Myanmar - pyihtaunghcusammatamyanmarninengantaw pyan tam
(ပြည်ထောင်စုသမ္မတမြန်မာနိုင်ငံတော်ပြန်တမ်).
Who are the main trading partners for Myanmar?
Which countries border Myanmar?
Myanmar is the largest country in mainland Southeast Asia which borders Thailand, Laos, China, India and Bangladesh.
What is the Supreme Court in Myanmar?
The Supreme Courts for Myanmar are called
The Constitutional Tribunal of the Union ( နိုင်ငံတော်ဖွဲ့စည်းပုံအခြေခံဥပဒေဆိုင်ရာခုံရုံး) which was founded on 31 March 2011.
The Supreme Court of Myanmar (ပြည်ထောင်စုတရားလွှတ်တော်ချုပ်)
Myanmar Debt Collection Agency FAQs
1. How does a Debt collection agency in Myanmar recover overdue debts?
The debt collection process is initiated by an introductory letter to your debtor stating the amount owed to you and informing them of our involvement. Letters are then followed up with emails and telephone calls. From our experience the most effective part of this process will be the outsourcing to a third party debt collection agency in Myanmar as the debtor now has to resolve the debt and can no longer hide or provide lame excuses.
2. How long does the debt recovery agency in Myanmar take to process a case?
The debt collection case will be processed immediately up receipt and a letter sent normally by email and post. You will receive an automated confirmation by return.
3. What is the success rate for debt collection agencies in Myanmar?
The success rate of the debt recovery case depends on a number of factors including the solvency of the debtor and whether the case has a legitimate dispute. Our aim is to recover every debt that is recoverable.
4. Does the debt recovery agency in Myanmar operate a No Win No Fee debt collection?
We take on all debt collection cases on No Win No Fee basis only charging the agreed commission against monies recovered.
5. Why use a local debt recovery agency in Myanmar?
The reasons for using a local Myanmar debt collection agency than processing from a different country is the debt collector in Myanmar speaks the local language, knows the local laws and operates in the same time zones.
6. Are there any debts too old or too small for Myanmar debt collection?
We will assess all debt cases, irrelevant of age and size and then advise the best processes to recover these through the Myanmar debt collector.
7. How do I instruct the debt collectors in Myanmar?
Instructing the debt collectors Myanmar is a simple process. You just email details of the debt, debtor and amount to be recovered and the case can be initiated.
8. What evidence do I need to provide when instructing the Myanmar debt collector?
When instructing the debt collector in Myanmar just provide copies of invoices/statements, debtor contact details and any relevant information you may have to assist with the recovery process.
9. Who does the debtor pay?
In general, the debt collector in Myanmar will request payments to be sent directly to the client but if not possible for any reasons will take payment directly. If payment is taken then cleared funds will be processed and sent to client straight away.
10. Can I instruct multiple cases?
You can send unlimited debt case instructions. Our systems will automate volume cases to meet your requirements.
11. Can you trace debtors in Myanmar?
Through our network of skip tracing agents we have an extremely high success rate of locating your absconded debtor.
12. How long does the debt collection process take?
On average the debt collections process takes 90 days to resolve an amicable debt recovery case. There are a number of factors that can delay this process but we will keep you informed every step of the way.
13. What are my options if debt collection in Myanmar is not successful?
If the debt recovery service is not successful, we will advise you of your options including legal actions. Please note no legal actions or other processes will be taken without prior instruction from you.