Many people get into debt because of poverty, unemployment, and emergencies. They even struggle to provide basic food and shelter for their families. Many others struggle because of bad spending habits. Once your spending increases over your income, debt piles up, you end up in a debt trap. It is stressful and painful to get [...]
Sometimes people do borrow money to turn their fortune but come into debt. There must be various reasons for the borrower to come to debt, which is a prevalent scenario in Singapore. In this situation, the debt collector of Singapore plays an essential role. These are the group of people that follow the legal procedure [...]
To keep your business afloat, you need positive and regular cash flow. However, it is not always easy to keep your finances in check. Firstly, you have to manage your daily expenses and ensure they do not go over your actual earnings. Secondly, at some point or another, your business has to have an encounter [...]
Lending money to people and getting it back to you can be a seemingly never-ending loop. Sudden money requirements often compel people to borrow some bucks and seek financial assistance. All this can soon turn into a massive burden if not resolved and repaid in time. This is precisely where debt collection steps in. While [...]
People cannot repay their loans sometimes because they are going through hardship. Even though it’s difficult for the debtors, it's, in the same way, challenging for the moneylender. Each year, most companies encounter huge losses from non-paying clients. As a result, we force them to heavily invest in a means of scraping back the money [...]
Often when we speak of professional debt collector Singapore, we tend to picture some evil-looking loan shark running after you for money. However, that might be the exact opposite of what to expect from these loan repayment mediators. Financial needs or unexpected money requirements are likely to push individuals to opt for money lending to [...]
Debt collection in Singapore is bound by a specific code of conduct. Being said that, debt collection is not equal to having a law in place. Thus, it is crucial to know what debt collectors can or cannot do. What is the Debt Collection Code of Conduct? For starters, the Credit Collection Association of Singapore [...]
Regaining money from your customers can act as an arduous task. You need to invest time and energy to persuade them to receive your delinquent receivables. Besides, investing your internal workforce for debt collection is not always successful. With a lack of area expertise and unawareness of the legal implications, they do not have the [...]
With the current global economy dropping due to the pandemic, many people and businesses across the world are facing numerous losses. People are now taking loans from family, friends, loan sharks, and banks to help them get through these economically tough times. The situation is not getting better and you find yourself stuck taking a [...]
You may find yourself in a fix and decide to get a loan to cater for some necessities. That’s how you become a debtor by owing the creditor. However, if you stay for long without paying the debt interest may increase leaving you in the hands of the debt collectors. Many people may term debt [...]
