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1. Costs – No Win No Fee!

Having long standing relationships with all our overseas partners we have agreements to provide these services on a NO WIN NO FEE basis charging the agreed commission rate against monies recovered only.

2. Coverage in Singapore

Singapore is divided into 8 districts. Our local office is in Paya Lebar Square (District 14) enabling us to recover debts throughout all of Singapore.

3. Local Experience

Unlike many of our competitors all cases are handled by the local office or partner. The reasons for this are they speak the debtors’ language, in the case of Singapore there are 4 official languages: English, Malay, Mandarin Chinese, and Tamil. We understand the local cultures and know all the legal processes. These are reasons why Creditreform are the ideal people to help you in collecting debts from overseas.

4. Statute of Limitation in Singapore

6 years but there are special exemptions so whatever the age please contact us and we will advise if we can assist with your claim

How to Instruct Us

We simply require the following details:

PLEASE CALL US ON 0121 442 5330 FOR FURTHER DETAILS

Or ask us to call you – just leave us your details:

 




Singapore Debt Collection – No Win No Fee

 

Creditreform operates a global specialist International debt collections service. We have local offices and fully approved expert international debt collection agency partners in every country worldwide. All our International debt collection agency partners and offices operate on a No Win No  Fee basis charging an agreed commission against monies recovered only.

Main reasons why a local country debt recovery agency is so important rather than trying to recover from the UK are as follows:

The local International Debt collection Partners know:

  1. The local cultures
  2. The languages
  3. The laws
  4. Are in the same time zones

 

Herewith details of our debt collection service Singapore

–       Location of office in Singapore
Paya Lebar Square, Singapore

–       Number of staff
6 staff

–       How long been operating in Singapore
Since 2015.

–      What type of debts do you recover?
We do both commercial debt collection (B2B) and consumer debt collection (B2C)

–       Statute of limitation in Singapore
6 years
If the case is entered and judgment is obtained in favour of client within the 6 years, the limitation period is extended to another 12 years from the date of judgment.

–       How EU laws effect debt collection in Singapore?
Singapore does not fall under EU laws and regulations. However, if you have any concerns regarding EU laws, please highlight these to us to review and follow

–       How many registries in Singapore for businesses? (i.e. UK just has 1 central registry)
1 registry in Singapore

–       What is the debt collection process in Singapore?
Standard process involve calls dunning, letters sending, site visits and worst case scenario litigation (subjected to creditors’ approval since this will be out of pocket expenses.

–       Average length of time to collect?
Usually 3 months and below to determine the collect-ability of the cases. Time may increase in the event of litigation and / or arrangement to settle by monthly installments

–       Can late payment fees / interest be added to claims?
Subjected to whether its in agreement and acknowledged upon. Late payment and interest cannot be forced upon. Having said this, most debtors would only pay off the principal amount though, if they have the intention to pay.

–       Details on legal service / process in Singapore
Generally quite fast and efficient as compared to most countries but the exact processes depend on the complexity of case and whether its defended, to be advised by partnering law firms

For collection and legal service in Singapore, concrete documents such as the Purchase Order, Delivery Order and invoices, signed contract agreement, if any, previous email communication, Promissory Note (if any) are essential. This is to avoid us been sued for unlawful demanding of debts or debtor denying the claim

There are many unique requirements to recovering international debts in all countries including Singapore debt collection services which differ from the UK and therefore it is very important that cases are handled directly by our expert international debt collection agencies and not from the UK office. This method of international debt collection sets Creditreform aside from the competition who in many cases try and recover debts from a UK debt collector only. Using the local offices and partners enables us to achieve a far greater success rate and our No Win No Fee service together with competitive commission rates against monies recovered only ensures you get the best service.

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“We are pleased with the friendly and efficient service of Adrian Harding and staff at Creditreform in collecting outstanding overdue debts on our behalf. Some accounts, especially those located overseas have been difficult customers but we are pleased with the high rate of success. We also appreciate that they keep us informed and constantly updated on the progress of the collection”
Bryan de Beer, Phoenix Fragrances
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“Within 48hrs of Creditreform being involved a resolution was agreed and within the week paid in full. The professionalism of the Creditreform team was second to none and I would and indeed do recommend them to colleagues in a similar difficult position This situation was the first time we have had to employ a company for debt recovery and it was good to feel that you have someone else ‘on your side’.”
Dean Lake, Lake Contracts
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“We have been using Credit Reform for a number of years now and we have always been dealt with in a professional and friendly way. Over time, Creditreform have managed to achieve good results for us. Would definitely recommend.”
Anna Zhakrova, Catering Hygiene Specialists Ltd
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“I have worked with Creditreform for many years and always received a first class service. Keep up the good work”
Russell Hardwick, MSC Industrial
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