Director of Song Long debt collection company claims not to pursue debts under 50 million dong

The director and 16 employees of Song Long debt collection company face charges of asset extortion, according to an investigation by Ho Chi Minh City Police. The company's director, Vu Hoang Long, has reportedly confessed to the crimes.

Investigators revealed that Song Long operated under the guise of debt purchasing contracts, which were allegedly fabricated to conceal their illegal debt collection services. This scheme was reportedly designed to evade law enforcement after debt collection services were outlawed. The company allegedly charged clients a commission ranging from 25% to 55% of the recovered amount.

Long allegedly directed employees, described as having tattoos and driving cars with the company logo, to pressure debtors. These tactics included visiting debtors' homes and workplaces to create public embarrassment and psychological distress, compelling them to repay. The company reportedly only accepted debt collection cases valued at 50 million Vietnamese dong or more, with one contract reportedly valued at nearly 10 billion dong.

Authorities detailed Song Long's structured operation, which included specialized teams for legal affairs, debt recovery, customer service, accounting, and technical support. All case data and recovery progress were managed through an internal software system. Clients also allegedly paid a non-refundable "file appraisal fee" of tens of millions of dong. Between 2020 and the present, the company is believed to have handled approximately 400 to 500 cases.