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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:
Bangladesh 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
Are in the same time zones
Herewith details of our debt collection service Bangladesh:
Location of debt recovery office in Bangladesh?
Chittagong. All debt collection letters are sent by the local head office.
Number of debt collection staff?
20 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 Bangladesh?
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 Bangladesh?
Statute of limitation in Bangladesh is 1 - 3 years
Bangladesh 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 Bangladesh is 6 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. Other Statute of Limitations include:
Bangladesh Open Account Years – 3 years
Bangladesh Promissory Notes – 3 years
Bangladesh Written Contracts – 3 years
Bangladesh Oral Agreements – 3 years
How EU (European Union) laws effect debt collection in Bangladesh?
No effect of EU laws debt collection in Bangladesh.
There is currently no Free Trade Agreement that has been signed or any ongoing negotiations between Bangladesh and European Union.
How many companies registries in Bangladesh for businesses (i.e. UK has just 1 central registry)?
We have one central registry in Bangladesh.
There is 1 company registry in Bangladesh which is called Office of the Registrar of Joint Stock Companies and Firms (RJSC) located at TCB Bhaban (6th Floor), 1 Kawran Bazar, Dhaka - 1215, Bangladesh.
We have access to Bangladesh Company Registry searches to find out who further background information on all Bangladesh companies.
What is the debt collection process in Bangladesh?
After receiving a case we send a formal debt collection letter to the debtor and await for their reply for 15 days. If they do not reply then we call them and try to speak to the proprietor / managing director and set up a meeting and try to settle the debt recovery claim by negotiation.
But there are some cases where the debtor is really a hard nut and directly say they will not pay and if we want to collect we have to settle through court, in that stage if the client instructs we file a case and the legal expenses are carried by the client.
Average length of time to collect a debt in Bangladesh?
The average time taken to recover a Bangladesh debt collection case varies from case to case.
Can late payment fees / interest to be added to claims in Bangladesh?
Unfortunately late payment interest is not enforceable for Bangladesh debt collection cases. No late fees/interest can be added in Bangladesh.
Bangladesh 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 Bangladesh 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.
Creditreform’s debt collection company service also uses expert local Bangladesh 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 Bangladesh 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.
Bangladesh Debt Collection Partners in the following Bangladesh Cities
Which countries border Bangladesh?
Who are the main trading partners for Bangladesh?
What is the legal system in Bangladesh?
The Bangladesh legal system is based on English common law, with the Muslim family law heavily based on Shariah law.
What is the name of the Government Gazette in Bangladesh?
The Gazette in Bangladesh is called Bānlādēśa gējēṭa (বাংলাদেশ গেজেট) - The Bangladesh Gazette.
What is the Supreme Court in Bangladesh?
The Supreme Court in Bangladesh is called the Supreme Court of Bangladesh.
Bangladesh Debt Collection Agency FAQs
1. How does a Debt collection agency in Bangladesh 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 Bangladesh 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 Bangladesh 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 Bangladesh?
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 Bangladesh 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 Bangladesh?
The reasons for using a local Bangladesh debt collection agency than processing from a different country is the debt collector in Bangladesh 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 Bangladesh debt collection?
We will assess all debt cases, irrelevant of age and size and then advise the best processes to recover these through the Bangladesh debt collector.
7. How do I instruct the debt collectors in Bangladesh?
Instructing the debt collectors Bangladesh 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 Bangladesh debt collector?
When instructing the debt collector in Bangladesh 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 Bangladesh 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 Bangladesh?
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 Bangladesh 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.