DEBT COLLECTION IN THAILAND

Debt collection has always been a tough side of any business. Сompanies may come across unreliable partners and customers. As a result, the company receives toxic assets instead of the earned money.

CIS Debt Recovery Solution is an international debt collection agency that provides commercial (also known as B2B) debt recovery services in Asia, including Thailand.

Many companies, who do business in Thailand, have run into difficulties with debt recovery. Thus, debt collection in Thailand can only be carried out by highly specialized professionals with experience in the Thai commercial legal system and local business rules as well. Therefore, CIS DRS will provide you with world-class debt collection professionals to assist you in out-of-court and litigation proceedings.

The Thai government passed the Debt Collection Act in 2015 to regulate debt collection processes. This Act established nationwide fair and standardized collection rules. Consequently, debtors now have increased protection rights.

For example, this law has a huge number of requirements for you or your lawyers to collect debts. Moreover, it provides in what way and to which people you can apply for debt collection. Also, this law strictly regulates when and how often you can contact the debtor. More importantly, in case of violations of the law, the creditor can be fined for impressive amounts, and in some cases can be criminally liable for up to 5 years in prison.

Additionally, kindly note that there's no fixed statute of limitations or prescription period in Thailand. Depending on the subject of the dispute and the amount of debt, this period can vary from 2 to 10 years.

We understand that these are complex issues that are difficult to understand. Thus, our lawyers can always explain the different conditions and procedures for collecting your receivables.

Sometimes the sad reality is that returning your money back requires taking a hard line with debtors. CIS DRS provides all types of debt collection services in Thailand: complete information research, including local and international databases; a full range of negotiations, including letters, emails, phone and conference calls, face-to-face meetings, outbound site visits, private detectives, etc.; drafting of all necessary legal documents, petitions, claims, lawsuits; further support of the case until payment.

Almost 95% of the cases that we solve are recovered without court proceedings. However, if it happens when the debt remains unpaid, we may recommend litigation with a full range of options. Our lawyers will also help you with the selection of the best third-party legal support for each specific case. CIS Debt Recovery Solutions has partners in many countries around the world.

By contacting our top leading law firm you will benefit from our many years of practice in debt collection. Additionally all of your personal information will be kept secured as we comply with the General European Data Protection Regulation (GDPR).

You can also take advantage of our data analysis and access to all statistics on legal efforts and results. Our prices are based on excellent client service. We work for results in amicable B2B debt collection.

Therefore, if your company has outstanding debt in Thailand and you want to pay it back soon, you can hire our international debt collection agency. Feel free to contact CIS Debt Recovery Solutions and leave your request through the form below.