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Dennis Tan on Debt Collection Bill

07:51 Min

How will new regulations governing debt collection allow for effective and reasonable methods that make sense commercially while drawing the line against intimidation or harassment? This question was raised by MP Dennis Tan in Parliament on Tuesday (Sep 13). He asked for more details on the types of conduct that will be prohibited - for instance, whether debt collectors will be allowed to pursue debtors on social media without making threats, or make contact with their neighbours or colleagues. Mr Tan suggested a public education campaign on the new rules so that people can discern what is allowed and not allowed. He also asked about the make-up of the debt collection industry in terms of revenue, employment, number and size of firms, and whether the Government anticipates any consolidation after the new regulatory framework comes into force.

How will new regulations governing debt collection allow for effective and reasonable methods that make sense commercially while drawing the line against intimidation or harassment? This question was raised by MP Dennis Tan in Parliament on Tuesday (Sep 13). He asked for more details on the types of conduct that will be prohibited - for instance, whether debt collectors will be allowed to pursue debtors on social media without making threats, or make contact with their neighbours or colleagues. Mr Tan suggested a public education campaign on the new rules so that people can discern what is allowed and not allowed. He also asked about the make-up of the debt collection industry in terms of revenue, employment, number and size of firms, and whether the Government anticipates any consolidation after the new regulatory framework comes into force.

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