Debt Collection Agency in Seodaemun-gu – SM Credit Information
SM Credit Information is a premier debt recovery agency in Seodaemun-gu offering effective Debt Collection services in Korea, established in 1999, serving clients like Hyundai and SK, with a network in 90+ countries, and memberships in ACA International and IACC.
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Company description
About SM Credit Information – Debt Collection in Korea
Founded in 1999, SM Credit Information is a leading debt collection agency in Seodaemun-gu, known for its effective recovery services and extensive global network. The firm's commitment to excellence is evident in its membership with ACA International and IACC, showcasing its industry recognition.
Proven Results
SM Credit Information has demonstrated its prowess in debt recovery through major assignments from prominent clients like Hyundai Capital and SK Networks. Notably, in 2021, the Korea Deposit Insurance Corporation engaged the firm to manage non-performing loans, leading to significant recovery acceleration without litigation. This achievement highlights the firm's capability in legal debt recovery, supported by a vast field network of 40 branches and a dedicated asset-tracing unit.
Our Process
SM Credit Information employs a meticulous process to ensure effective debt collection. The approach is systematic, beginning with a solid contractual agreement and addressing debtors with precision.
- Establish a collection-entrust contract and obtain supporting documents.
- Notify the debtor within three days and verify their details over five days.
- Conduct property and asset searches, supported by land registry data.
- Perform telephone dunning and engage in field visits for ten days.
- Issue interim progress reports and conclude cases upon repayment or judgment.
Meet the Team
Led by CEO Kong Mun Yong, SM Credit Information's team is composed of 250 dedicated professionals focused on effective debt recovery. The firm's establishment in 1999 and its role as a member of the reputed SM Group underpin its credibility in the financial services sector. This experienced team is dedicated to leveraging both their local and international expertise to optimize recovery processes.
Services & Industries
SM Credit Information offers a comprehensive suite of services, including third-party recovery of B2B claims, credit research, and field surveys. The firm operates across diverse industries such as financial services and risk management. Its ability to coordinate with international partners in over 90 countries ensures a seamless recovery process, making it a trusted debt collection agency in Seodaemun-gu. For more details, explore our Korea debt-collection guide.
PRICING MODEL
SM Credit Information offers a customized tariff for debt collection services, quoting each case individually after reviewing the claim documents. The agency provides negotiable commission rates, allowing flexibility to suit the face amount, age, and complexity of each debt. Their pricing structure includes a contingency-based success fee, only payable upon successful recovery. Additional costs, such as debtor asset searches and court queries, are pre-agreed and billed at cost. For international claims, SM Credit works with 155 ACA/IACC-approved partners across 85 countries, with any extra local charges quoted in advance.
Operating on a “no win, no pay” basis, SM Credit only charges pre-authorised expenses if debt recovery is unsuccessful. Domestic invoices incur a 10% VAT, with the opportunity for VAT exemption if applicable. Commission fees typically deduct from collected amounts before remittance, which proceeds to the creditor promptly after fund clearance.
An engagement letter will summarize agreed terms, ensuring transparency. Request a detailed quote to explore custom debt collection solutions.
Process
Discover how Debitura streamlines global debt collection. Debitura is a tech-powered debt-collection platform that routes every claim to vetted local experts for immediate, country-specific action. Operating in 183 countries, Debitura provides unparalleled reach and reliability. In Korea, creditors benefit from a no-cure-no-pay arrangement, ensuring cost-effectiveness and risk minimization. Additionally, the debt collection agency Korea page details essential information, such as statutory interest and collection timelines. To gain deeper insights into the process, the Korea debt-collection guide offers comprehensive knowledge. Explore more about the Asia debt-collection network to find tailored strategies and expert partnerships across the region.
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Top-Rated Debt Collection Agency in South Korea
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