1. Costs - No Win No Fee! 

Having long standing relationships with all our overseas partners we have agreements to provide these services on a NO WIN NO FEE basis charging the agreed commission rate against monies recovered only. 

2. Coverage in Vietnam 

Vietnam is divided into 58 provinces  and 5 municipalities with Ho Chi Minh City and Hanoi City being the most populous cities. Our local partner has 3 offices in Ho Chi Minh City, Hanoi City and Da Nang City so we are strategically located to recover debts throughout all of Vietnam. 

3. Local Experience 

Unlike many of our competitors all cases are handled by the local office or partner. The reasons for this are they speak the debtors' language, in this case Vietnamese. We understand the local cultures and know all the legal processes. These are reasons why Creditreform are the ideal people to help you in collecting debts from overseas. 

4. Statute of Limitation in Vietnam 

2-3 years but there are special exemptions so whatever the age please contact us and we will advise if we can assist with your claim 
Search a country below for debt collection: 

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: 

Vietnam 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 Vietnam: 

Location of debt recovery office in Vietnam? 

We have 3 offices in Vietnam: 
Da Nang City 
All debt collection letters are sent by the local offices. 

Number of debt collection staff? 

16 staff including 9 qualified lawyers 
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 Vietnam? 

We have been operating an Asia debt collection service on a no win no fee basis in Vietnam since 1988. Vietnam 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 Vietnam? 

Statute of limitation to initiate a lawsuit in Vietnam is as below: 
For a civil case: 3 years from the date after the due date of a debt. 
For a commercial case: 2 years from the date after the due date of a debt. 
Vietnam 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 Vietnam is 2 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: 
Vietnam Open Account Years – 2 years 
Vietnam Promissory Notes – 2 years 
Vietnam Written Contracts – 2 years 
Vietnam Oral Agreements – 2 years 

How EU (European Union) laws effect debt collection in Vietnam? 

If a debt arises from a transaction between a foreign creditor and a Vietnamese debtor and the parties select EU Laws to govern their transaction, Vietnam Court will reject to resolve the lawsuit regarding such debt. 
Vietnam signed a free trade agreement (FTA) with the European Union (EU) in 2019 and this has been enforced since 2020. The EU–Vietnam Free Trade Agreement (EVFTA) is a free trade agreement between the EU and Vietnam which was passed on 8th June 2020. 
United Kingdom–Vietnam Free Trade Agreement is a similar free trade agreement between the UK and Vietnam. It is largely derived from EVFTA with minor modifications and was made to continue the rights and obligations between the two countries after Brexit. 

How many companies registries in Vietnam for businesses (i.e. UK has just 1 central registry)? 

Vietnam has 1 authority registry named Department of Planning and Investment. 
There is 1 company registry in Vietnam which is called Ministry of Planning and Investment – Agency of Business Registration located at 6B Hoang Dieu, Ba Dinh District, Hanoi, Vietnam. 
We have access to Vietnam Company Registry searches to find out who further background information on all Vietnam companies. 

What is the debt collection process in Vietnam? 

Our general comments about debt collection process in Vietnam are as below: 
1. Amicable collection will save much more time and cost for the Client than litigation collection. 
2. Under Vietnam laws litigation collection will last 
i) 7-9 months for first instance court; 
ii) 4-6 months for appeal court. 
iii) 4-6 months for arbitration litigation. 
3.As a practice matter the settlement time is often longer than the above. 
The creditor should have the debt acknowledgment issued from the debtor to submit to the court/ arbitration to reduce the settlement time in litigation stage. 
"Article 6 of the Investment Law 2020, which takes effect on January 1, 2021, includes the “Debt collection service business” on the list of prohibited investment and business activities. Therefore, many companies that were performing debt collection activities that were established before (operating under Decree No. 104/2007/ND–CP) had to be terminated. From now on, only a lawyer or law firm can conduct lawful debt collection activities on behalf of a third party. More peaceful debt collection methods must be used."  
We used a local law firm in Vietnam for collections to comply with all local laws. 

Average length of time to collect a debt? 

The collection time is subject to some main factors (“Background”), such as (i) cooperation of debtor; (ii) sufficient documents proving the outstanding debt; (iii) good condition of the debtor to settle the debt. As the Background of each case is different with other cases, we, therefore, are unable to estimate the average length of time for b2b debt collection

Can late payment fees / interest to be added to claims? 

Under Vietnam laws, the creditors are entitled to request the late payment interest from the debtors. However, it is hardly to collect this amount in amicable stage since the debtors often refuse to pay the late payment interest. The Creditors may claim the late payment interest in litigation stage. 

Details on legal service / process in Vietnam? 

Our legal services and process for debt collection are as follows: 
Review the documents provided by the Client to assess whether this case is a debt collection case or dispute case; 
Initial check whether the debtor is still operating or already suspended; 
Advise the Client on the result of step (1) and (2) and ask the Client to provide additional information or documents if the provided documents is not clear to prove the debt; 
Proceed with amicable stage to collect the debt; 
Update regularly on the collection process to the Client and advise next steps if there is any news of the case; 
Advise the Client to proceed with litigation collection if (i) the debtor did not cooperate with us in amicable stage; and (ii) the litigation collection is feasible for the case; 
If the Client agrees with litigation method, we will proceed with this method to collect the debt; 
Update regularly on the collection process to the Client and advise next steps if there is any news of the case; 

Vietnam 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 Vietnam 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. 

Vietnam Skip Tracing Agents 

Creditreform’s debt collection company service also uses expert local Vietnam 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 Vietnam 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 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. 

Vietnam Debt Collection Partners in the following Vietnam Cities: 

Who are the main trading partners for Vietnam? 

The main import and export partners for Vietnam are USA, China, Japan and South Korea

Which countries border Vietnam? 

Vietnam is located in Asia whose neighbours include China to the north and Laos and Cambodia to the west. 

What is the Supreme Court in Vietnam? 

The Supreme People's Court of Vietnam (Vietnamese: Tòa án nhân dân tối cao) is the highest court of the Socialist Republic of Vietnam which was established on 13th September 1945 and is located in Hanoi. 
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