No persons are suppose to be subjected to harassment. Be it from banks, LML and of course, UML.
Doesn't matter if the person defaulted on their payment.
He's asking about harassment, not renegotiate repayment or defer.
The biggest culprit are always debt collectors assigned by banks or LML.
They can only go the legal route of writ of seizure and such to recoup back from errand clients.
Strong-arm tactics are suppose to be used by illegal money lenders only. But we read often used by debt collectors.
They seem to prey on lesser knowing persons about the law, protocols and their rights in accordance to the law.
Yes agreed. I am once a LML harassment victim.
I believe most of the victim of UML or loan scam victims are forced to get loan from UML and loan scam due to pressure or harassment from the bank and LML debt collectors.
Most of them dont know the rights and law for the such debt collector.
At first i thought law is behind those bank and LML debt collectors to do what ever they want since they are licensed. But please read up the rules and the fair debt collection practice in singapore to find out what are our RIGHTS as a debtors as well.
What can’t the debt collection agencies do?
The are no specific laws regulating debt collection agencies in Singapore. The following are areas that they cannot do:
Code of conduct for debt collectors in Singapore
The legal debt collection agencies in Singapore are expected to follow the industry’s Code of Conduct which was set up by the Credit Collection Association of Singapore (CCAS). The CCAS assists the debt collection agencies and the debtors by attempting to resolve their disputes, but it is important to note that the CCAS does not have the power to enforce the code of conduct.
What can’t the debt collection agencies do?
The are no specific laws regulating debt collection agencies in Singapore. The following are areas that they cannot do:
Unlawful assembly
In Singapore if five (5) or more people who have the common intention or objective with any of the criminal conducts listed under section 141 of the Penal code were to assemble they would be considered as part of an “unlawful assembly”, and they would be punishable under section 143 of the penal code.
Intimidation and violence
The finer details are found within the Protection from Harassment Act. Primarily in the Act, it is against the law to use threatening, abusive or insulting words or behaviour with the aim of causing alarm to someone or causing that person to believe that immediate unlawful violence will be used against that person.
Unlawful stalking
If the debt collector unlawfully stalks the debtor and causes the debtor to be harassed, alarmed or distressed in the process and if the debt collector did so know that such an effect would have been caused he may be guilty of an offence.
Threatening physical violence
The debt collectors are not allowed to threaten the debtors with any violence for the repayment of the debt.
Vandalism
If the debt collector sprays paint on your walls, throws paint or even sticks any posters or stickers on your property, they would be guilty of vandalism.
Harassment
If the debt collector were to persistently disturb, torment, trouble or persecute you, they might be guilty of harassment.
Damaging or taking possession of your belongings
Many debt collectors will try to make you believe they can tow your car away or seize your property if you don’t pay up. However, to do so, they would need a Writ of Seizure and Sale from the Singapore Courts to seize your property. If they do not have this document, they have absolutely no legal rights to seize anything.
Impersonating government bodies
It’s illegal for debt collectors to pretend to be government agents, such as the IRAS or the Police. They are also not allowed to put up fake sites that mimic existing government agencies or to use fake government letterheads in their letters to recover the debts.
Most important:
DEBT COLLECTORS MUST NOT BE THE EMPOLYEES OF THE UML.. the must be debt collectors engaged by LML, they shouldnt call you during your working hours 9am to 9pm.
They should only come to your doorstep with less than 2 people.
They should show you the letter of demand to you and NOT any of your family members.