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The law of Debt and Collection in Kowloon, Hong Kong is primarily governed by the Limitation Ordinance (Cap. 347 of the Laws of Hong Kong). These laws provide a comprehensive structure for creditors to seek payment on outstanding debts from individuals or entities. Debt collection practices tend to be civil matters, however, if a debtor ignores court orders to repay a debt, it could potentially become a criminal matter.
People often need a lawyer to successfully manage and navigate through the complexities of debt and collection law. Situations can arise when an individual cannot manage their debt and needs advice on bankruptcy, or when a small business is struggling to collect unpaid invoices. A lawyer can offer advice on understanding your rights, protect you from harassment by debt collection agencies, and provide representation in court proceedings if necessary.
The key aspects of local laws related to Debt and Collection in Kowloon, Hong Kong largely relate to the Limitation Ordinance. This statute stipulates six years as the general limitation period for contractual and tortious claims relating to debt. However, the law changes if the debtor acknowledges the debt in writing or makes part payment, this could restart the limitation period. Unlawful and unethical debt collection practices are also monitored under Hong Kong's criminal law.
Initially, a reminder is sent to the debtor if the payment due is not made within the credit period. If the debtor fails to make payment, a lawyer's letter can be sent which asserts the debtor's obligation to pay. If there is still non-compliance, the creditor can take legal actions such as filing a civil lawsuit.
Yes, you are protected by law from harassing you, or using abusive or deceptive practices to collect the debt. You can also request to communicate with the collectors in writing for record keeping purposes.
The Limitation Ordinance stipulates a time limit for different types of legal claims, including those related to debt. Generally, for debt-related claims, the time limit is six years.
Yes, a debt collector can sue you if you don't pay your debt. If they win the lawsuit, they may be able to garnish your wages, or put a lien on your property.
Yes, you may work with a lawyer or a debt consultant to negotiate with your creditors and possibly change the terms of your original contractual agreement or inflate the payment period.
You can approach the Legal Aid Department if you require financial assistance for a legal adviser. The Office of the Privacy Commissioner for Personal Data and the Consumer Council of Hong Kong can also provide helpful information and resources about your rights.
If you are in need of legal assistance, begin by contacting a reputable law firm specializing in debt and collection cases. They can provide you with a lawyer who can guide you through your case, protect your rights, and advocate for your best interests.
