Redress Mechanisms for Clients of Debt Collection Companies in Dispute Cases

Question:

Assoc Prof Jamus Jerome Lim: To ask the Coordinating Minister for National Security and Minister for Home Affairs what are the redress mechanisms available under regulatory oversight for clients of licensed debt collection companies in cases of disputes, such as delayed disbursements.

Answer:

Mr K Shanmugam, Coordinating Minister for National Security and Minister for Home Affairs:

1. The Police’s regulation of the debt collection industry is aimed at preventing problematic debt collection conduct. It does not regulate the commercial arrangements between debt collection companies and their clients.