Phuoc & Partners specializes in all legal aspects of commercial and civil debt recovery in Vietnam, from early demands and payment negotiations through to debt recovery litigation. We take the time to get to know our clients’ business and work with the clients to ensure that our debt recovery strategy properly considers the clients’ commercial, strategic, reputational and legal needs from time to time. Details of our debt recovery litigation service are as follows:
a. Recovering debts through court
Taking legal action to reclaim a debt can be seen as a last resort, as often just the merest indication that you intend to bring legal proceedings will often be sufficient to make your customers settle. However, should your debt recovery processes fail, there are several points to consider before beginning any legal process.
The court often expects your company to make an effort to resolve your dispute with the other party before your company’s legal action. Therefore a court hearing takes place only after your company has tried to reach an agreement with the customer.
b. Choosing a lawyer
Finding a lawyer can be a challenge, and personal recommendations are often a good way to decide. Before you make a decision, ask the following questions:
- Is there a firm specialising in debt recovery?
- Does the firm have a mediator or dispute resolution service that you can consider as an alternative option?
- How will you be charged – a per hour rate plus expenses or by the percentage of the sum recovered?
- If they do business on a ‘no win, no fee’ basis, are there any hidden costs? Will you have to pay court costs?
c. What we do
Our recovery team provides a one-stop shop from initial advice through judgments and enforcement. We undertake all methods of enforcement including charging orders and insolvency action. The team provides commercial advice at every stage of the litigation procedure.
d. Our fee
We have a variety of reasonable fee packages for any considerable work and will discuss individual requirements. A one size fits all approach is not applied as each case is handled on its own merits.
If you would like further information on how our firm can assist in addressing your debt recovery and litigation issues, please feel free to Contact Us.