Debt recovery is the alternative option of recovering your monies with by way of legal recourse with the help of lawyers, when their own debt collection efforts fail. Our debt recovery processes are driven by actions which we are able to take pursuant to the Companies Act (Cap 50) and the Bankruptcy Act (Cap 20).

Debt Collection is a process of pursuing payments of debts owed by individuals or businesses. It is work, often undertaken by private debt collection agencies who operate within the law, as opposed to illegal loan sharks. These debt collectors are often contracted by companies for a fee to pursue payments of debts owed by individuals or businesses and would act as an intermediary between the Debtor and the Creditor to negotiate an installment plan or lower interest rate.

If your Debtor is a person and the debt owing to you is more than S$15,000, you may consider commencing bankruptcy proceedings against the Debtor to encourage him or her to pay up the debt.

Should your Debtor neglect, ignore or fail to respond to the demand made by your lawyers, filing a civil claim in court and getting a Judgment from Court may compel payment of the Debt. For smaller claims not exceeding S$10,000 between the consumer and supplier, you may (limit can be raised if both parties agree to raise to S$20,000 by filing a Memorandum of consent) consider taking it up to the Small Claims Tribunals to adjudicate your matter by applying through the CJTS system.

The following are the types of enforcement proceedings that one can take to enforce the payment of Debt: Write of Execution Examination of Judgment Debtors Garnishee Proceedings Committal Proceedings. One cautionary note: debts fall under the Limitation Act. If you think that this could be an issue in your situation, do not admit to the debt or discuss any settlement without legal advice: taking even the smallest step could void the limitation period and restart the clock.