Debt Collection in Vietnam

Requesting a late payment will always be difficult and time-consuming, especially debtors who have experienced for over-due money. Depending on the nature of the transaction arising late payment, it is divided into three cases: (i) civil transactions, (ii) commercial transactions, and (iii) cases having criminal elements. For each case, the legal framework will be different for implementation, and the competent agencies' solutions also differ. Then, the first step is to decide what kind of case belongs to.

Civil transactions and commercial transactions are regularly based on agreements between parties through contracts and oral agreements. They are normally borrower and lenders or buyers and sellers, including goods and services. To request late payment, the creditor needs to show (i) there are legal agreements and (ii) the breaking of the agreements. The collection methods will begin with issuing letters of demand, telephone calls, emails, physical site inspection, and initiation of the litigation process. After getting the valuable judgments from the Court, the properties and assets of the obligator shall be solved to pay for the creditor.

Cases with criminal elements have to be brought to the police to investigate and inquire. After obtaining the result from the police, the case is transferred to the People's Procuracy and Court to decide and issue the sentences. The creditor must show that their interests and rights are violated by the illegal activities of the debtors. If the evidence is not clear and unsuitable, the debtors can initiate the creditors. Therefore, it is necessary to consider twice to bring the case to the police because it is a double-edged sword.

DB Legal, which is equipped with mediation alternative dispute resolution skills, will help handle all kinds of debt. We act for persons or small and large commercial enterprises recovering the debts. Our aim is to collect the debt as quickly and efficiently as possible. 

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