Vietnam: What is the maximum number of times FE Credit may call clients for debt collection?

My friend has applied for loans from FE Credit in Vietnam. FE Credit calls my friend for debt collection all day which greatly affects his/her life. Even though my friend has informed them that the debt will be fully repaid by August 15, they still make dozens of calls each day. Is continuously making calls for for debt collection legal?

Clause 7, Article 1 of Circular 18/2019/TT-NHNN (amending Point dd, Clause 2, Article 7 of Circular 43/2016/TT-NHNN) stipulates actions to be taken by credit institutions to push clients into repaying and collect debts in Vietnam as follows:

Actions to be taken to push clients into repaying and collect debts which are relevant to specific clients, conform to laws and exclude any threat to clients. The maximum rate of sending debt repayment reminders shall be 05 (five) a day; the method and time frame of reminding debt repayment which are agreed upon in consumer lending contracts, especially such time frame that must be between 7 (seven) and 21 (twenty one) o’clock; a ban on sending debt repayment reminders, debt repayment requests and information about debt collection to organizations or individuals that are not liable to pay debts to finance companies, unless otherwise required by competent regulatory authorities regulated by law; client information confidentiality prescribed by law

According to the above regulations, the maximum number of times a credit institution is allowed to remind a debt is 05 times/01 day. => Therefore, FE Credit making calls more than 05 times/01 day (as provided information indicates calling dozens of times) is not in accordance with the law.

You can refer to additional related advice:

- What should you do when FE calls continuously causing inconvenience?

- How much is the fine for harassment by FE Credit?

Sincerely!

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