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. 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 Philippines:
Location of debt recovery office in Philippines?
Pasig City in Metro Manila. All debt collection letters are sent by the local head office.
Number of debt collection staff?
Several staff. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response results from debtors.
How long have you been operating a debt recovery service in Philippines?
Founded in 1994.
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.
How EU (European Union) 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 companies registries in Philippines for businesses (i.e. UK has just 1 central registry)?
2 registries, Securities and Exchange Commission (SEC) and the Department of Trade and Industry (DTI).
What is the debt collection 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 a debt?
6 months to 1 year.
Can late payment fees / interest to be added to claims?
It is possible but not practical to consider.
Details on legal service / process in Philippines?
A debt recovery letter is normally sent by postal mail or personal delivery; those that involves court processes is coursed through Court Sheriffs and process servers.
Philippines 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 Philippines 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.
Philippines Tracing Agents
Creditreform’s debt collection company service also uses expert local Philippines 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 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.