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debt collection service
Debt Collection Service Updates
New policies effective from January 2021
Prohibition of debt collection services, application of early retirement policy, regulation of retirement age, the right of the Procuracy to supervise crimes... are new regulations that take effect from January 2021.
Economy
National Assembly votes to pass amended Investment Law, banning debt collection services
The National Assembly has just voted to pass the Investment Law (amended), which prohibits debt collection services.
Prime Minister directs to push back black credit and loan sharking
Many lending activities have high interest rates, up to 700% per year, to gain illegal profits, causing social instability.
Proposing the Ministry of Public Security to manage debt collection services
The Ministry of Public Security will apply necessary professional measures to prevent, stop and handle crimes related to debt collection services.
How are debt collection services regulated?
(Baonghean) - Debt collection service business is one of the most sensitive business types in the financial and monetary market. Bankruptcies due to black credit, or simply complicated civil credit leading to criminal violations, have raised a need to bring debt collection services into the framework of the market.
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