In Singapore, most people will associate the term debt collector as gangsters that will collected debt payment from debtors who either has borrow money from them to clear their gambling debt or unsecured loan from licensed moneylenders.
Those debt collectors are also call “Ah Longs” which is commonly known in Singapore and they are well-known to harass debtors using methods such as constantly disturbing them by pounding the doors of the debtors regardless of time, threatening the debtors that they will visit the workplace and will cause the debtors to lose their jobs if the payment is not settled in the due date given.
Despite the high interest which includes the late payment fees and compound interest.There are still many Singaporeans whom are willing to take the loan due to many factors such as lack of stable income to pay for other debts plus financial burdens from the family especially if the debtor is the sole bread winner of the family.
Despite to the many complaints to the police on the nuisances which the so-call debt collectors has caused. Most debt collectors have the mind-set that since they are running a legal money lending business. They have the right to verbally threaten and harass them as long as they do not physically cause physical harm to the debtors.
Unlike the Professional debt collection officers whom normally will follow a strict code of proper conduct to persuade the debtors to settle the debts. Those debt collectors from the licensed money lending companies normally have a criminal background or gangsters whom are not afraid to resort to extreme measures such as spray painting to the debtor’s home or even resort to physical violence even though their actions are highly illegal.
Although the Singapore government has recently the used media such as local TV shows and short documentary to educate the general mass on the difference between the professional debt collectors and the representatives of the licensed money lenders. Most people will still have perceived a very negative image and will usually discourage their peers to join the career of debt collection officers and even scorn upon if they happen to encounter one.Especially Singaporeans from the older generation.
Despite all those negative review, debt collector’s job is still considered as one of the popular choices for Singaporeans who are less educated but wish to earn a decent income plus other incentives as there’s always a high demand of debt collectors in this society.