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 [...]
Bankruptcy often occurs when a person or business is unable to repay its outstanding debts. This mainly occurs when a person is in dire need of financial assistance and gets a loan of a large sum of money to cater for the issue. However, it reaches a point where the individual or business is unable [...]
Debt collection is a process by which any payments owed by debtors is pursued. The collection is done on an individual level or through a third party called a debt collection agent. Therefore, a debt collection Agency performs the duty of collection debts owed by individuals or corporate organizations to ensure that delinquency management is [...]
What is debt Recovery? Debt recovery is the process of collecting money owed by way of a legal process. It is usually the last resort after all the other collection efforts fail. Each process is unique, depending on the situation at hand. However, there are those common steps that you go through in every debt [...]
Nowadays, almost every company is looking to outsource their debt collections as either they don’t have the required knowledge and expertise to manage it or don’t have sufficient time to do the same. Indeed, hiring a Singapore debt collection agency ensures you the top services and lets your staff devote their precious time to other [...]
For every business, the effective management of working capital or cash flow is necessary as it is an important metric in determining the business's long-term financial health. Without adequate capital, it’s hard to run a business. In fact, the COVID-19 outbreak has raised several working capital challenges; the changes in customer demand & delay in [...]
If you own a business, you would adopt any possible thing to keep it afloat. One vital decision that most business owners need to make is hiring a debt collection agency. Yes! It’s true that not all customers pay their debts on time, and as a result, you have to make them frequent phone calls [...]
