What is debt collection?
Debt collection is the process of retrieval of overdue payments owed by individuals or companies either by the lender or third party that may act on the behalf of a lender. Overdue payment issues are very common in the business world. In some cases, businesses and individuals borrow more than what they can pay back, and multiple reasons may make them unable to pay back what they owe. Debt can be in any form including unpaid funds, installments, loans, debit cards, rents, salaries, and much more.
Debt Collection in China
Debt collection is not as simple in China compared to other countries. According to the laws of China only licensed lawyers and licensed law firms are legally allowed to collect the debts. In 1995, individuals and companies were prohibited to set up companies for debt collection based on an order issued by the National Public Security Bureau and State Administration for Industry & Commerce. According to this notice all debt collection agencies in China are illegal. Further in 2000, another order was issued named “fighting against illegal debt collection companies severely” by State Economic and Trade Commission, National Public Security Bureau, and State Administration for Industry & Commerce.
We are a registered and licensed associate debt collection agency with a large force of licensed lawyers to provide outstanding services to clients by connecting them to the leading associate debt collection agencies around the world.
Costs- No Win No Fee
Unlike other services and our competitors, we do not charge our customers unnecessarily and value the worth of their money. We have a strong and long-standing relationship with all our clients and partners globally. We have an agreement to provide services on the basic principle of NO WIN, NO FEE. We do not charge our clients in case if we are unsuccessful to recover the debt. We serve clients with a talented team of experts and charge a reasonable amount of money only when we are successful in the recovery of the debt.
Coverage in China
China is divided into 33 divisions whereas Hong Kong & Macau are two Special Administrative Regions in China. The head office is in Shanghai with other offices and networks running in Province Jiangsu in cities including Beijing and Kunshan which allows us to serve the clients and make successful debt collection countrywide.
Language is one of the most critical barriers in communicating with clients and providing services to the population. China is one of the largest countries in the world and with the world’s largest population. There are people around the world living here and approximately 300 languages are being spoken in China. Our officials do understand the local culture and have extensive knowledge and experience to handle debt collection cases globally. We try our best from our end not to allow this barrier to come in our outstanding services that are being provided to clients by our team. Unlike our competitors and other services in the market, all the cases are handled by our local offices and partners to make sure that there is no language barrier and the officials speak the debtor’s language to make the process smooth and free of stress. 70% of the population speaks Mandarin while the few other local languages are Cantonese, Shanghai, and Fuzhou. Due to our professionalism and diverse workforce we always recommend you to avail services from us. We are one of the most trusted debt collection agencies in China with 1000s of successful stories not only in China but around the globe with international experience of making debt collection around the world.
Statute of Limitation in China
As per the laws of China Statue of Limitation in China is the maximum period after an event in which proceedings may be initiated. Under the General Principles of the Civil Law of the People’s Republic of China; the period may vary from 2-4 years depending upon the case from “the date when the right holder knows or should know of the infringement of rights and the obligor”. However, in some cases the holder may grant the extension. We always welcome you to contact us and our debt collection agency will make sure to serve and assist you in every possible way as per laws and rules & regulations.