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The Danger of Selecting Unreliable Debt Collection Agency

A debt collector who collects the debts owed to others regularly without using unfair, deceptive and abusive practices is allowed to collect the debts in Singapore. These debt collectors may include a debt collection agency which may collect the debts for the benefit of the creditors. They may also include the companies and lawyers who may buy uncollectible debts from others and then collect them for their own benefit.

But while selecting a debt collection agency one has to be very careful as an unreliable agency or individual can be dangerous not only for the debtors but for creditors also. They can use all the legal and illegal means, prohibited by law, to recover debts from the debtors on behalf of the creditors. According to this act the debts recoverable by a reliable or genuine collection agency may include all the personal debts borrowed for the benefit of family and household through which you owe money to others including auto loan, credit card account, mortgage loan and medical bills to others but they cannot recover the debts taken for running a business. But an unreliable collection agency usually does not care much about the restrictions imposed by law, as discussed here under.

Time and place of contact: The Singaporean law does not allow a debt collection agency to contact the debtors any time and at any place. They must take care of your convenience while contacting you. Legally they are not allowed to contact the debtors before 8 AM and after 9 PM or at your workplace unless you allow them to do so. The act allows the debt collectors to contact the debtor through letter, phone, text message and email after disclosing their identity, as per the rules. They can use any means of communication but legally they cannot threaten, deceive or harass them by posing themselves like a government agency or a lawyer. Most of the unreliable collection agencies use these unfair practices to recover the debts as soon as possible.

Stop the collector from contacting you: Sometimes a debt collection agency contacts you wrongfully about a debt owed by you to others. In such cases people usually want to talk to the collectors to resolve the matter if they are unable to repay the debt instantly or clarify the confusion. After meeting the collection agency if you do not want them to contact you again then you can either write a letter or tell them verbally in this regard. A reliable and genuine collection agency will honour your wishes unless you defy the terms of repayment of debt. But most of the unreliable debt collectors do not stop contacting debtors in any condition which can be harmful for the reputation of the creditors.

Contact anyone else about your debt: Financial law of Singapore allows debt collection agency to contact others only to get the personal information of the debtors including address, place of work and their contact details. They can contact the attorney if he is representing you to settle down your debts. But this act does not allow collection agencies to contact third party again and again in this regard. Moreover they are not permitted to discuss about your debts with others except the attorney or spouse of the debtor. But if a collector defies this rule, then he can be termed as unreliable which can affect the credibility of the creditor also.

Discussion of your debt with you: A reliable debt collection agency can tell you about the money you owe to others by sending you a Validation Notice within five days of contacting you in this regard. They must include complete information about the creditor and the amount of money due along with the process of dealing the matter to settle down the transaction. Most unreliable debt collectors compel the debtors to repay the debt as soon as possible even if you do not owe to anyone else. They contact the debtors again and again for this purpose, which is not fair for both, creditor and debtor, under this act.

Limitations for debt collection practices

Harassment: A reliable debt collection agency is not allowed to oppress, abuse or harass the debtors or any third party in this regard. They cannot use harmful and violent threats, use profane or obscene language, annoy them by calling repeatedly or publish their names even after refusal to pay the debt.

False representations: Singaporean law does not allow the debt collectors to lie while trying to collect debts. They may not wrongly claim to be a government agency or attorney for this purpose. They cannot wrongly represent a debt collection agency as worker or owner. They cannot mislead the debtors by telling wrong amount of money or telling them to have committed a crime or challenging the legality of the documents presented by the debtor.

False statements: Debt collectors are also not allowed to make false statements like the debtors can be arrested or a legal action can be taken against the debtor or his property can be attached, sold or seized with or without the permission of law for non-payment of debt

False credit information: Any debt collection agency is not allowed to give false information about the credit to anyone including the creditor or using the name of a fake credit company or sending a fake official document that looks like government or court document to harass the debtor.

Use of unfair practices: Law also does not allow any debt collection agency to use unfair practices like collect fee, interest or other charges in addition to what the creditor has charged as per the terms of the debt, while trying to collect the debt. They are not allowed to deposit post-dated checks before time, contact the debtor repeatedly or threaten to take debtors property

Most of the limitations and restrictions imposed by financial laws of Singapore are not followed by an unreliable debt collection agency which can be dangerous not only for the debtors but for the reputation of the creditors also. So for these reasons it is necessary for the creditors to select a reliable agency of collecting their debts.


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Why Choose Us As Your Personal Debt, Business Debt,
Bad Debt Collection & Debt Collection Agency?

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Money is a sensitive issue that can make both enemies and friends. Depending on the transaction, a lot of documentation may be involved just to ensure that all parties involved in the same are secure and for one to be assured that they will get their payment as agreed. The payment may be for goods or services offered and according to the agreement, a date may have been set to settle the payment and any interests that may have been accrued.

Even with all of this documentation, payment may not be forthcoming at times which may leave you frustrated and to some extent, it might even strain your relationship with whoever owes you. On the other hand, it might be difficult for you to claim your dues depending on who you are dealing with and in the interest of maintaining good relations with those who owe you, you might opt to stay put. This means that you will eventually be the one to bear the consequences of the same which might affect you in one way or another.

A personal debt owed to you by someone may affect your future plans if you had planned to use the same money or had deadlines to meet which will drag you behind. This is where a debt collection agency comes in and as opposed to dealing with your debtors which may be a hard thing to do at times, these agencies go out of their way to ensure that you recover all monies owed to you with less or no hassles.

The minute your debtor sees an agent from a debt collection agency show up their door, it might be hard for them to find ways to evade the issue but if they were dealing with you in person, the likelihood of recovering your money any time soon may be second to none. Licensed professionals from collection agencies will have an easier time dealing with your debtors since they are proactive and use a persuasive approach in the whole process that is sure to get you the results you need.

Opting to use a debt collection agency will ensure that;

You have time to concentrate on other important matters rather than chasing after your debtors.

Your monies are recovered to the last dime owed to you.

You are spared any legal procedures that may turn out expensive in an effort to recover your monies.

If you had a large sum of money owed to you out there, it gets to be reduced significantly.

Debt collection agencies also deal with business debt and as you are well aware, it may bring your business to a halt if it is not addressed within a specific period of time. Actually, the longer it takes to recover, they worse it gets for your business, which means that it needs to be addressed for the continuity of your operations in future to be assured.

This process requires skill and professionalism because dealing with people can be difficult at times and that is why debt collection agencies engage trained personnel that are equipped with the necessary knowledge required to deal with debtors. So if you are dealing with a bad debt collection, do not go it alone. These experts are here to help address and solve the issue in the best way possible. Debt collection services offered by such experts include;

Corporate/commercial debt collection.

Banks and financial institutions collection services.

Personal/private debt collection services.

Education debt recovery.

Medical/surgical debt recovery.

Other expert services.

At some point in life, you will realize that what has been mentioned above is something you will have to deal with in your day to day operations. This is part of life and with the help of a debt collection agency you are assured of;

Urgency in handling your requests since realization of results is the driving force that they ride on.

Friendly, consistent and professional services.

Recovery of most or all monies owed to you and effectiveness in performance which cannot be compared to what others may offer you.

Continuity of operations for those in business and a steady flow of cash into your business as opposed to what may have been the case before.

Some collection agencies operate on the policy, “no collection, no charge.” It will be beneficial to you should you find such to deal with because you will only need to pay for the service once results have been realized. In other words, you only pay when your monies are recovered. A capable collection agency should have several attributes attached to it. These include;

Ability to continue improving on their operations and to keep innovating ways of serving their clients better.

Upholding high standards of work ethics.

Expertise in the industry they are working in.

Engagement of experienced and industrious staff.

Achievement of the best possible results.

This is part of what makes a collection agency successful in its operations which ultimately ensures that all clients who opt for the services offered by it are satisfied at the end of the day. Without these, it would be difficult to realize desired results and most individuals would be skeptical when it comes to opting for services rendered by collection agencies.

As a client, you have a lot to gain from such agencies. This includes;

If you had some business debt to be taken care of, when it is finally recovered, this will mean that business operations will go back to normal.

Achievement of results will be assured due to the fact that you are engaging professionals in the process.

Any cost that may have been incurred as a result of debts owed to you will be minimized or eliminated altogether.

You will be able to pay your staff which will in turn safeguard the returns your business is expected to realize as it continues running.

There is a lot to lose if you do not engage a debt collection agency if you have some monies out there owed to you and the benefits outweigh the disadvantages of not opting for the services rendered by one. Hence, it will be wise to safeguard your reputation, future plans, business operations and much more by engaging experts in this field.

What Our Clients Saying?

  • William Tan
    We were recommended by our friend to try Debt Collector Singapore. I am very impressed with their professionalism. They are very effective in executing the debt collection tactics. Thanks for helping us to get back our funds. Will recommend your service to anyone that need help with bad debt collection.
    William Tan