Philippines 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. As with Debt collectors UK our international debt collection agency partners in the Philippines are able to charge interest and late payment fees to the debtor so reducing the amount of commission you have to pay.
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 Philippines:
– Location of office in Philippines
Pasig City in Metro Manila
– How long been operating in Philippines
Founded in 1994.
– What type of debts do you recover?
We recover both commercial (B2B) and consumer (B2C) debts
– Statute of limitation in Philippines
4 years for oral contract; and 10 years for contract made in writing.
– How EU laws effect debt collection in Philippines?
To the extent that the Philippine government is signatory to treaty and other agreements. Otherwise, the general laws under the Civil Code of the Philippines shall apply.
– How many registries in Philippines for businesses? (i.e. UK just has 1 central registry)
2 registries, Securities and Exchange Commission (SEC) and the Department of Trade and Industry (DTI).
– What is the process in Philippines?
Under the principle of fair and reasonable actions, i.e., writing of letters to the debtor, phone calls at a reasonable hour, and site visit under reasonable circumstances.
– Average length of time to collect?
6 months to 1 year.
– Can late payment fees / interest be added to claims?
It is possible but not practical to consider.
– Details on legal service / process in Philippines
It is normally sent by postal mail or personal delivery; those that involves court processes is coursed through Court Sheriffs and process servers.
There are many unique requirements for international debt recovery in all countries including the Philippines debt collection services which differ from debt collectors UK and therefore it is very important that cases are handled directly by our local expert international debt collection agencies and not here 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 and the greatest chance of recovering your money without incurring huge upfront costs.