What is Debt Collection?
A debt collection process is a progressive procedure for the just and ethical recovery of outstanding amounts and past-due payments from an indebted subject on behalf of the creditor.
Usually the lender either collects the amount personally, or hires a private recovery agency to represent him as a third-party in front of the debtor.
Debt collection process and recovery of bad debt
Bad debt comes from the situation, where a consumer has fallen behind with his regular loan payments towards the lender. After bad debt is identified, the creditor will usually try to collect the amounts on his own, using internal debt collections process.
This process is carried out by lender’s employers, who are part of lender’s organization. If the operation does not succeed, the creditor will mark the delinquent profiles as written-off debts and resort to the professional services of a private DCA, i.e. Debt Collection Agency.
After the lender transfers debt cases to the DCA and the agency integrates its debt collection software (API- Application Programming Interface), an exchange of data between creditor and collection agency starts.
The next step from the debt collection process is contacting the debtor. A debt recovery agency typically uses standardized methods of collection, whose goal is to not harass the debtor and not breach his/her rights as a consumer.
While getting in touch with the debtor, the debt recovery agency applies as creditor’s interlocutor in front of the consumer.
Interlocutory debt collection process services can also be performed by a debt collection solicitor or legal attorney, who will act on behalf of the debt recovery agency, which has been hired by the original creditor.
Such legal representatives not only send official letters of demand and letters before action, but can also transfer debtor’s case to court, issue and force different court orders: a writ of summons; request for a small claims procedure document; high court enforcement orders; property confiscation court authorization; wage garnishment (or EAO, i.e. Emolument Attachment Order).
When the default identity has been sent to court, the debt recovery attorney will dispatch one last letter to the debtor, informing him that court actions have begun and from a specific date the indebted subject will be summoned to court to present his defense.
Debt collection process- legal responsibilities
Although national and international regulations vary depending on debtor’s place of abode, there are standard and universally accepted legal and ethical practices in order for a legitimate debt collection process to be carried out.
The first statute in a fair debt collection process is protection of debtor’s personal data and information, and utilization of non-harassing debt recovery methods.
Debt Collector Roles and Responsibilities
A Debt Collector may need to research information about debtors, including finding out details like new addresses and other contact information.
They attempt to obtain payment and often negotiate partial payments. Other responsibilities of a Debt Collector include:
Manage multiple delinquent accounts for debt collection.
Keep track of assigned accounts to identify outstanding debts.
Plan a course of action to recover outstanding payments.
Negotiate payoff deadlines or payment plans.
Handle questions or complaints.
Investigate, resolve discrepancies in payments, accounts.
A Debt Collector works in the area of financial services, and they mainly track down and request payment from individuals with overdue bills or debts.
Recovering money owed and being polite and sensitive toward people while still remaining persistent is required. They’re required to comply with company, national and government requirements when legal action is unavoidable.
They may be required to initiate contact with customers and perform advanced loss prevention activities, such as skip-tracing, field chasing and account settlement.
Most Debt Collectors work for third-party companies, though some run their own small businesses.
Debt Collectors need to be able to keep accurate records as they send out past due notices, keep track of address changes and other contact information and report missed payments to credit bureaus.
They need to investigate and resolve any complaints, so they should have experience with research and be comfortable talking people from all walks of life and varied backgrounds.
About Debt Collection Services in Singapore
The classic images of a pig’s head and O$P$ splattered in red on corridor walls sums up Singaporeans’ image of debt collectors.
While most imagine debt collectors as gangsters, this is seldom the case (among legal debt collectors at least).
This is because debt collectors are still subject to the Protection from Harassment Act, and can go to jail for behaving like hooligans.
As such, most debt collectors these days are more like very assertive bank tellers than triad gangsters.
In fact, many have leeway to negotiate a little – if you propose an instalment plan for repayments, for example, they may take it back to their employer.
Likewise, they may also be entitled to offer you various repayment solutions.
The specific details are under the Protection from Harassment Act (see above).
Note that causing distress can mean verbal harassment.
For example, if the debt collectors threaten to kidnap your dog or puncture your car tires, and you feel intimidated and unsettled, they have transgressed legal boundaries.
Trends in Debt Collection Services in Singapore
Most tend to lend negative connotations to debt collectors. However, associating with them can also help you propose different repayment solutions as a lender.
The Credit Collection Association of Singapore (CCAS) has a code of conduct for their debt collectors.
Sample Costs of Debt Collectors in Singapore
The average salary for a Debt Collector is $13.55 per hour. Exact salary may vary depending on the applicant’s education, level of experience.
A Debt Collector typically stays in the position for around a year.
Benefits of Debt Collection Services in Singapore
It’s illegal for debt collectors to pretend to be government agents, such as tax agents or police officers.
They are also not allowed to put up spoof sites (websites that mimic government agencies), or use fake government letterheads.
Singapore law also prohibits debt collectors from:
Unlawful stalking
Threatening physical violence and brandishing a weapon
Defacing your property and other acts of vandalism
Debt Collection Service | Debt Collection |
| Specialty | Debt Collection is a company specializing in Debt Recovery for SMEs, Large Corporations and Personal Collections. They have recovered debts for a long list of industries such as Construction, Trade, Automotive, Fitness, Food & Beverage, Healthcare – Vets & Doctors. Their expertise have proven successful in helping customers improve cash flow. |
| Pricing | Request a quotation: [email protected] |
| Website | |
| Address | 1 Scotts Road #24- 10, Singapore 228208 |
| Telephone | +65-67337479 |
| Operating Hours | 10 am to 6pm |
Debt Collection Service | Atradius Collections |
| Specialty | World leading commercial debt collection agency. Well-established global business with 90+ years of quality credit insurance and credit management experience. Great success in collecting debts for our clients worldwide; and pride ourselves on our high-quality services. This has enabled them to become key players in the business-to-business debt collection market. |
| Pricing | Pricing: Request a quotation: [email protected] |
| Website | |
| Address | 8 Shenton Way, #22-02 AXA Tower, Singapore 068811 |
| Telephone | +65-6372 5300 |
| Operating Hours | 9 am to 6pm |
Debt Collection Service | SCDS |
| Specialty | They offer comprehensive coverage of every stage of the debt collection process for both Individual and corporate risk solutions. They are highly recommended by their clientele and recognized in the media. They achieved more than 85% success rate. Experienced & well-trained Debt Enforcement Specialists. On-site visits to residence / workplace. |
| Pricing | Request a quotation: [email protected] |
| Website | https://singaporedebtcollectionservice.sg/ |
| Address | 2 Venture Drive #13-32 Vision Exchange Singapore 608526 |
| Telephone |
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| Operating Hours | 9.30am to 6.30pm |
Debt Collection Services | Resolute Debt Recovery |
| Specialty | Since 2012, Resolute Debt Recovery has served as a trustworthy, debt collection agency, helping businesses collect unpaid accounts swiftly. They provide premier services in debt collection, credit management with integrity, cost-effectiveness, and best results. They keep up to date with latest collection trends, technology to ensure their clients maximized returns. |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.resolutedebtrecovery.com.sg/ |
| Address | 18 Kaki Bukit Ave 4, #05-04 Premier @ Kaki Bukit, Singapore 415875 |
| Telephone | (65) 8821 1238 |
| Operating Hours | 12pm to 8pm |
| Client |
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| Review 1 | lee Zy: |
Debt Collection Service | DMS Debt |
| Specialty | Whether it is overdue accounts, unpaid invoices or arrears, DMS Group has the solution. They are an organization of the highest integrity and their practices are tailored to deal with the debtors in accordance with the law. They provide the best service to their clients, with high debt recovery rates. |
| Pricing | Request a quotation: [email protected] |
| Website | |
| Address | 65 Ubi Crescent #03-03 Hola Centre Singapore 408559 |
| Telephone | (65) 6547 8300 |
| Operating Hours | 10 am to 6pm |
Debt Collection Services | Abacus Credit |
| Specialty | As a leading receivables management company in Singapore, they are committed in providing client tailored solutions with integrity and professionalism to their client. Their aim is to surpass clients’ expectations and consistently increase the recovery success rates for their clients in an ethical manner whilst upholding client’s image and reputation. Services: Tracing services, debt collection, recovery network, legal consultation, account receivables report |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.abacuscredit.sg/ |
| Address | 1 Scotts Rd, #22-11, Singapore 228208 |
| Telephone | (65) 6511 1811 |
| Operating Hours | 9 am to 6pm |
Debt Collection Service | Experian Asia Pacific |
| Specialty | With their industry-leading information assets, software and expertise in debt collection, you can reduce the cost of recovering debts, increase your efficiency, and maximize the returns on your efforts. This is made possible with PowerCurveTM Collections. They increase recoveries through relevant collection methods. They protect brand engagements in personalized ways. |
| Pricing | Request a quotation: [email protected] |
| Website | |
| Address | 10 Kallang Ave #14-18 Aperia Tower 2, Singapore 339510 |
| Telephone | (65) 6593 7500 |
| Operating Hours | 9am to 5.30pm |
| Client |
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| Review 1 | Henry Tang rated 5 stars |
Debt Recovery Service | JMS Rogers |
| Specialty | JMS ROGERS® is a brand established in 2004 as a dedicated Debt Recovery & Collection entity. Known for providing a valued professional service catered to all forms of corporate and individual customers, in recovering goods and monies owed. Over the years, they became the leading Singapore-based Debt Recovery, Collection Entity. |
| Pricing | Request a quotation: [email protected] |
| Website | http://www.jmsrogers.com.sg/ |
| Address | 55 Serangoon North Ave 4, S9 Building, #05-05 Singapore 555859 |
| Telephone | (65) 6899 9961 |
| Operating Hours | Valentina Thangam, RUSSEL WONG, My Mobile, Donovan Huang, ivy |
| Review 1 | Valentina Thangam: |
Debt Collection Service | Singapore Debt Recovery |
| Specialty | Debt consolidation in Singapore is very rarely a simple task, so alleviate yourself of this unpleasant responsibility by employing professional debt collectors. At Singapore Debt Recovery they are the specialists in money recovery and unresolved collections. Their expert team will locate these unpaid accounts for you, repossess property and debts. |
| Pricing | Request a quotation: [email protected] |
| Website | http://www.debtrecovery.sg/ |
| Address | 20 Maxwell Road #09-17, Maxwell House, Singapore 069113 |
| Telephone | (65) 6235 8562 |
| Operating Hours | 9.30am to 6.30pm |
| Review 1 | Ko Ko: |
Debt Recovery Service | KX-Unit |
| Specialty | In KX-Unit, they acknowledge the business climate demands an utmost Professional and Effective Debt Recovery operates within the local Law Jurisdiction. As the 3rd Generation Operators of the industry, having incorporate educated professionals together with effective traditional collection methods, we maximize efficiency, momentum in intensive recovering process on the debtors. Services: Corporate bad debt recovery, personal debt recovery, anti-scam consultancy, claims management, dispute resolution |
| Pricing | Request a quotation: [email protected] |
| Website | https://kx-unit.com/ |
| Address | 6001 Beach Road, Golden Mile Tower, #13-10 S(199589) |
| Telephone | (65) 6291 5088 |
| Operating Hours | 10.30am to 9pm |
Debt Recovery Service | Lee Tan & Partners |
| Specialty | They offer professional debt collection and debt consolidation services, providing individualized customer service. With their director being an Ex-Law Enforcement officer and having experience in Private Investigation, their company has all the experience and knowledge to help you with debt-related needs. They specialize in all aspects of debt recovery, collection. |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.leetan-law.com/ |
| Address | 65 Ubi Crescent #03-03 Hola Centre Singapore 408559 |
| Telephone | (65) 6547 8300 |
| Operating Hours | 9 am to 6pm |
Debt Recovery Service | Unit81 Debt Recovery |
| Specialty | Daily they receive new cases for debt recovery coming in and they daily fulfil and close full recovery cases. They follow up cases tightly, to ensure all plan out recovery to meet on time for our clients. Debts recovered: Personal Debts, Business Debts, Outstanding Rentals, Scams, Credit debts, Clients protection. Services: Debt recovery, scams, credit debts, business debt recovery, personal debt recovery |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.facebook.com/Unity81/ |
| Address | Blk 118 Aljunied Ave 2 #02-128 S(380118) |
| Telephone | (65) 8323 8181 |
| Operating Hours | 12pm to 11pm |
Debt Recovery Service | Farallon Law Service |
| Speciality | They have one of the most experienced debt collection team of lawyers in Singapore. Speak to them about your debt collection matter today. They are committed to resolving your matter quickly and without incurring unnecessary costs. Extensive experience in debt recovery the legal way. Recover your debts with little hassle. Services: Letter of demand, debt recovery advice, debt negotiation, debtor preventive action, writ of seizure |
| Pricing | Request a quotation: [email protected] |
| Website | https://fl.sg/ |
| Address | Level 40, Ocean Financial Centre, 10 Collyer Quay, Singapore 049315 |
| Telephone | (65) 6808 6147 |
| Operating Hours | 9 am to 6pm |
| Client |
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| Review 1 | Lee Romeo: |
Debt Recovery Service | Accurate Debt Recovery |
| Specialty | They help you save time, hassles, resources, and money.They offer effective debt collection services by identifying the issues preventing compliance and working through solutions to obtain payment. They serve all areas of debt collection, including both commercial and domestic debts. Expect a modern approach to debt collection, with updates. Services: Debt collection, receivables management, credit consultancy, high success rate, affordable fees |
| Pricing | Request a quotation: [email protected] |
| Website | https://accuratedebtrecovery.com/ |
| Address | 18 Kaki Bukit Road 3 #03-11 Entrepreneur Business Centre Singapore 415978 |
| Telephone | (65) 6909 0757 |
| Operating Hours | 10 am to 10pm |
Debt Collection Service | Rocket Debt Collection |
| Specialty | They understand that in all businesses, relationship is very important. They treasure their relationships not just with their clients, but their debtors. They work to maintain this while working. Their Collection Team are trained and equipped with knowledge and interpersonal skills to ensure relationship between Client and Debtor remains positive. Services: Debt recovery, mediation, corporate debt recovery, personal debt recovery, debt recovery strategy |
| Pricing | Request a quotation: [email protected] |
| Website | http://rocketdebtcollection.sg/ |
| Address | 21 Bukit Batok Crescent #15-75 Wcega Tower Singapore 658065 |
| Telephone | (65) 9862 2379 |
| Operating Hours | 9 am to 6pm |
| Clients |
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| Review 1 | Dolalado Happy: |
Debt Collection Service | Equitasasia |
| Specialty | Equitasasia implements strict guidelines for all their officers to work professionally in methods of debts recovery. Their staff will adhere to local laws governing debts recovery in countries that they operate in and also ensure that their client’s image and reputation remains untarnished in the process. They maximize debt recovery. Clients: Letter of demand, phone call, tracing, field visits, debt recovery |
| Pricing | Request a quotation: [email protected] |
| Website | http://www.equitasasia.com/ |
| Address | 60 Paya Lebar Road, #07-24 Paya Lebar Square, Singapore 409051 |
| Telephone | (65) 6521 6789 |
| Operating Hours | 9am to 6pm |
Debt Collection Service | Vantage Debt Recovery |
| Specialty | They are a leading debt recovery company. With a team of motivated and professionally trained debt recovery specialists, provide their clients with a personalized and tailored-made solution to all their debt-related problems while strictly adhering to all relevant Singapore legislation and regulation. Their services are very affordable, reliable, and professional. Services: Personal debt recovery, corporate debt recovery, debt negotiation, mediation, IOU recovery |
| Pricing | Request a quotation: [email protected] |
| Website | http://vdr.sg/ |
| Address | 21 Bukit Batok Crescent, #25-74, WCEGA TOWER, Singapore 658065 |
| Telephone | (65) 6255 8750 |
| Operating Hours | 10am to 6pm |
Debt Recovery Service | Justice Debt Recovery |
| Specialty | No matter how tough the case is, they ensure each case is handled with our full capacity to recover outstanding debts effectively. Tired of searching & hunting for individual customers when they default paying for your goods or services? They will exhaust methods to ensure they pay for debts accrued. Services: Bad debt recovery, debt recovery, debt management, IOU recovery, field visits |
| Pricing | Request a quotation: [email protected] |
| Website | http://www.justicedebtrecovery.sg/ |
| Address | 25 Kakit Bukit Road 4, #03-41 Singapore 417800 |
| Telephone | (65) 8328 5991 |
| Operating Hours | 12pm to 8pm |
| Client | Electrowolf Pte. Ltd. |
| Review 1 | Electrowolf Pte. Ltd: |
Debt Collection Service | Black Rock Collection |
| Specialty | Their team of recovery managers has numerous past working experience such as private investigator, negotiator, credit and debt recovery office to help you in collection of receivables. They are a legalized receivables recovery company that adhere to Singapore’s Law. Their recovery procedures are carefully planned and executed, without breaking laws. Services: Receivables recovery, debt recovery, bad debts recovery, court orders enforcement, corporate retainer |
| Pricing | Request a quotation: [email protected] |
| Website | http://www.blackrockcollection.com.sg/ |
| Address | 50 Buffalo Road Singapore 219799 |
| Telephone | (65) 6333 1737 |
| Operating Hours | 9 am to 6pm |
Debt Collection Service | PaPa Debt Solutions |
| Specialty | They work with clean ethics rather than crooked expediency. They take pains to discharge their responsibilities professionally even when they are unmonitored. Being in the debt collection industry, Papa Debt Solutions meets despaired creditors on a daily basis. Clients turn to them to restore hope in them. They highly esteem integrity. |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.papadebtsolutions.com/ |
| Address | 185 Toa Payoh Central, #01-344, Singapore 310185 |
| Telephone | (65) 9786 1854 |
| Operating Hours | 9 am to 6pm |
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