1. What is the legal process in Singapore for late payment from a corporate perspective?
This depends on the amount involved. If the amount does not exceed S$10,000, you can consider going to the Small Claims Tribunal.
If not, you would have to sue in either the State Courts or the High Court (>S$250,000) depending on the amount.
2. What cannot be heard at the Small Claims Tribunals?
- Small claims tribunals have no power to hear the claims such as below:
- Hire purchase agreement
- Employment matters
- Friendly loans and claims by moneylenders
- Purchase of stock and shares
- Rental contract of residential premise with lease more than 2 years
- Legal fees
- Insurance claims
- Damage caused by use of a motor vehicle
3. I obtained the court order from small claims for an amount of $5,000 SGD against another private limited company who has not paid up but the registered office is no longer there?
You will still be able to proceed against the defendant even if the registered office is closed down. You need to apply for an examination of judgment debtor against the defendant’s director. However, there may not be any assets left in the defendant so you may want to consider whether this is worth the cost.
4. When should you engage the services of Resolute debt recovery services?
You should engage the services of a debt collector Singapore as soon as possible. The longer the time is from the start of the arrears to the day an action was taken to collect the debt, the lesser the chance of recovering the funds.
5. What is the procedure of debt collection?
Our debt collectors can help you with debt recovery Singapore. Depending on the situation and relationship with the debtor.
However, if your debtor refuse to pay after lawyer letters. It’s time to engage us.
6. How do we work at Resolute Debt Recovery Pte Ltd?
There are clear laws and regulations about how Singapore Debt Collection Services works and what is allowed and what is not. At Resolute debt recovery we do everything within these confines to collect a debt from your customers in a respectful way.
7. How long does a debt collection process take?
Before collection efforts can begin, our offices must be in receipt of the proper documents to validate the new claim.
Once this validation process is completed and an agreement is in place, our debt collectors will begin their efforts immediately.
Just as every claim is different, the circumstances for each consumer varies as well, resulting in an unidentifiable certain set of time.
Extenuating factors such as the age of the account and the type of debt being collected upon also weigh into how much time it will take to close our agreement.
8. Do I need to provide proof of the debt?
Yes, we must be able to validate the debt before we can begin the collection process.
This process of validation is in place to guarantee the protection of both the client and the consumer when working with Resolute debt recover.
Validation documents include, but are not limited to, contractual agreements between you and the consumer, a bill or invoices for exchanged goods or services, as well as, legal court judgement documents.