Redress Mechanisms Available for Clients of Licensed Debt Collection Companies in Dispute Cases

Assoc Prof Jamus Jerome Lim asked 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.

Mr K Shanmugam: 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.