How to collect your debt in Vietnam

How to collect the debt in Vietnam is one of the issues that many people are concerned about. When a debt is due, creditors can use methods such as mailing a collection letter including agreed terms and payment methods; using debt collection service; Agreement with debtors if they do not pay the full debt, or can even sue in Court to get the competent authorities to settle the due debt.

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Surely, every individual or business will at some point find it difficult to recover debts from debtors. One of the most common problems in most debt collection cases is that individuals or managers of the business need to know how to collect debt in accordance with debt collection regulations in Vietnam.

Therefore, they can handle their debts in the most effective way while minimizing the risk of problems related to the legal regulations in Vietnam. Under applicable Vietnamese law, creditors can authorize a third party to perform debt collection on behalf of. However, if that third party uses methods that violate the law or use unfair methods or commit other forms of violence, harassment, deception or threats to the debtor until the if they pay off their debt, they may have legal problems.

How To Collect Your Debt In Vietnam
How To Collect Your Debt In Vietnam


In Vietnam, there are two most popular ways for individuals and businesses to recover late debts.

Recover debt through litigation at the Court

Firstly, recover the debt through litigation at the competent state agencies, namely by filing a lawsuit against the debtor to the Court and asking the Court to accept and resolve.

When the debtor fails to pay the debt to the creditor, it means that the debtor has not fulfilled its obligations, affecting the legitimate rights and interests of the creditor. As a result, the creditor can file a debt collection action with a Court that has jurisdiction over the debt and may be paid an additional amount of interest. This is considered the last form of debt collection if the debtor insists on not paying the debt.


The advantage of this form is that the owner of the debt will be legally secured, besides being able to enforce a judgment to recover the debt through a competent state agency. However, there are many disadvantages business will face when suing for debt collection.


The biggest downside of this approach is that it is quite time-consuming, often lengthy to get the court’s decision. One of the reasons for the slow processing is the Court’s overloading in the complicated procedures of many different business and individuals.  

Before filing a lawsuit in court, the creditor needs to verify the debtor’s exact information such as the debtor’s location and legal status of the debtor’s property to ensure compliance with the law. Because the law requires that only properties that are considered legal can be circulated and disposed of. Usually, during that processing time, it is possible that the debtors have no assets because they accidentally or intentionally transferred all the assets to someone else, or even their business has broken down. There are no assets left for the creditor to recover. Creditors can seek legal advice to get the best assistance with their pre-court proceedings.

Initiating a lawsuit to collect a debt is the last option after sending debt collection letters, negotiating, warning, and reminding. Sometimes, mentioning litigation and Court is enough to get the debtors into considering and proactively pay off their debts. However, if the regular way to collect debt fails, there is another option to consider before prosecuting.

Recover debt through a third party

The second form is the authorized creditors, through a third party to recover the debt. If the business and individuals are having trouble with bad debts, they can contact professional debt collection attorneys in Vietnam and having well-experienced lawyers, consultants, and experts advise on debt collection. They will help the creditors come up with a timely and effective debt recovery plan.


The biggest advantage of this form is that it can save more time than court proceedings. In fact, many creditors turn to non-reputable, unskilled organizations to handle the recovery of due debts. This may result in the third party’s use of legally unsecured debt collection methods that put the customer at risk. Because lending assets is considered one of the popular civil transactions. There are currently no mandatory requirements on the form of borrowing between parties. Therefore, the civil transaction between borrowing and lending can be expressed in the form of speech, writing, or specific behavior.

Besides, those debt collector companies always have practical, scientific, and effective solutions to recover debts, provide more opportunities to recover capital, avoid losses and revitalize your financial resources. A reputable, branded law firm must be a law firm that has been in debt collection for a long time. Being trusted by many customers and partners to use the service. Because it must be active for a long time, then it is able to converge, summarize and offer effective and effective debt collection measures and operations. Moreover, long-term existence also proves that the company is operating efficiently and profitably to maintain its operations. At the same time, the existence for a long time also proves that the operations and skills that the company’s specialists apply to debt collection are legal, effective, and do not violate the law.

Those companies help customers negotiate conditions to negotiate on debtors to recover debts early; especially making debtors do not have the opportunity to disperse and move in order to avoid debt repayment obligations. If having to sue for debt collection, customers will always feel secure because there are always our lawyers to support and minimize legal risks, protecting customers’ interests and helping shorten debt time and effectively recover the debt.

Therefore, if using this method, debt owners need to look to reputable organizations with legal expertise and professional expertise to get the best support to recover overdue debts from it saves time and achieves a certain effect.

Do not hesitate to contact us when you want to recovery your debt in Vietnam

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Frequently Asked Questions

How many way for recovering late debts in Vietnam ?

In Vietnam, there are two most popular ways for individuals and businesses to recover late debts.
through litigation at the Court.
through a third party

What should you do when you want to collect your debt in Vietnam?

– Keep all evidences of the debt: The contract; Bank transfer confirmation; Oder letter…
– Find a Vietnamese Law firm / Lawyer who have experiences for collecting debt in Vietnam
– Do not find a debt collection service company. (From 1/1/2021, Vietnam ban debt collection service).

How much does it cost for a collect debt lawyer?

It depends on the difficulty of the case as well as the value of the debt.
Note: A success fee will normally be charged based on the amount recovered

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