Decree 104: Prohibited Acts in Debt Collection Services in Vietnam

Decree 104: Prohibited Acts in Debt Collection Services in Vietnam (Illustrative photo)

To be specific, Decree 104/2007/ND-CP clearly stipulates the prohibited acts in debt collection services for creditors or debtors and debt collection service businesses in Vietnam as follows:

1. For creditors or debtors:

- Authorizing a debt collection service business to carry out activities beyond the rights recognized by law for creditors or debtors;

- Committing or having others commit acts of fraud, using force or threatening to use force against the personnel of the debt collection service business.

2. For debt collection service businesses in Vietnam:

- Committing or having others commit acts that infringe upon the life, health, dignity, honor, personal freedom, property rights, and other civil rights of the debtor, creditor, and related organizations or individuals;

- Using information obtained from debt collection service activities to the disadvantage of the creditor and debtor for purposes other than those authorized or disclosing such information to other organizations or individuals unless otherwise provided by law;

- Carrying out activities or actions beyond the rights recognized by law or beyond the scope authorized by the creditor or debtor;

- Simultaneously representing both the creditor and the debtor in handling the same debt.

Details can be found in Decree 104/2007/ND-CP which takes effect in Vietnam from July 28, 2007.

Ty Na

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