How To Recover A Debt From Hong Kong
How To Recover A Debt From Hong Kong
Hong Kong and the United Kingdom has a historical connection, and have been long term trading partners for decades. In 2020 there was $10.5 billion worth of exports sent from the UK to Hong Kong.
With this much trading going on, there will always be a certain number of clients that do not pay what they owe. There are many reasons for this, such as invoice disputes or misunderstanding, but some clients will not pay as they feel safe from any consequences.
With this in mind, business owners in the UK need an effective debt collection service. Are you owed money from a client in Hong Kong? If so, Federal Management can help. Our international debt collection service is fully-comprehensive and provides one of the highest success rates available.
Collecting a Debt in Hong Kong
Many business owners are often left in a difficult position when they are owed money from a client in another country. Many seek to use an internal debt collection process. However, recovering money from clients overseas is more complex than local debt collection.
Every nation has its own way of governing debt recovery, with specific rules and laws that must be observed. As well as this, factors such as native languages, time zones and even cultural differences must be taken into account.
For debt collection in Hong Kong, knowledge of local laws and a proven history of successful recoveries are qualities to look out for.
Whilst it is possible to learn what these elements are, doing so is often impractical for most businesses. In order to be as successful as possible, the services of a professional debt collection company are required.
Debt Collection in Hong Kong – Professional Debt Collectors
When considering options for recovering a debt from Hong Kong, you should always consider your options carefully. All factors should be considered, such as cost, effectiveness and reputation. Choosing a disreputable and low-quality debt collector can, in some cases, result in more problems than just being owed money.
A specialist international debt collection agency is always a preferable choice when recovering a debt from Hong Kong. Federal Management is known as the UK’s leading international debt collection agency.
Since our opening in 2004, we have recovered millions of pounds in unpaid debt from locations all over the world. As such, our debt collection experts have the foremost knowledge and expertise when it comes to debt collection in Hong Kong.
For example, we have built a network of trusted debt collection partners situated in key locations across the world. This includes major cities and states and ensures that our reach is global. Our partners have expert knowledge of the laws and customs in their respective territories, helping us to provide our services across the world.
If you are owed money from a non-paying client in Hong Kong, please contact our debt collection experts today. We will provide a free pre-action assessment of your debt. This checks how viable it is for your debt to be recovered, as well as provides a clear picture of cost.
Debt Collection in Hong Kong – Frequently Asked Questions
Can debt be collected internationally?
Yes, an international debt collection agency is the best choice for recovering outstanding fees. Federal Management’s overseas debt collection process has helped thousands of businesses recover millions of pounds in debt from all over the world.
How much does debt collection in Hong Kong cost?
Every case of debt is unique and must be priced accordingly. For more help, speak to one of our expert debt collectors today. We will provide a free pre-action assessment of your debt, giving you the best idea of cost.
How long can debt be chased in Hong Kong?
In Hong Kong, creditors must begin a debt recovery action within six years of its creation.
Can a business debt be collected in Hong Kong?
Yes, all types of debt can be collected from Hong Kong. This includes both private and commercial debt. Federal Management specialises in the recovery of business debt, but in some cases can help with high-value personal debt too. Speak to our debt collection experts for more information.
How effective is debt collection in Hong Kong?
A good international debt collector needs to understand the local laws and codes of practice in the debtor’s location. Federal Management is regarded as the UK’s leading international debt collection agency. Our average debt recovery rate is 90% on all undisputed business debt.