Why do you need a law firm to help with debt recovery?
In many cases, you or your company will need to enforce some steps to recover the debt. In this article, we'll show you why you need to hire a lawyer instead of a debt collection company in this process.
Your money will be properly handled
The law firm's account is regulated by the Singapore Bar Association and is subject to strict professional code of conduct. You can be sure that the money recovered by the representative of the law firm is accurate and there will be no difference in the amount of money reported to you by the debtor's payment firm and the firm.
You will not be implicated in the illegal activities of the debt collection company.
The private debt collection company has no special review and access rights. If they threaten or harass the debtor, or act as your agent causing damage or breach of legal terms, you may be indirectly implicated as their employer.
You can easily terminate the services of a law firm
The law firm is regulated by the Singapore Bar Association. When you decide not to use them, the law firm will never stop you and will not charge you a cancellation fee.
At IRB Law Firm, we will provide you with a fixed quote before we start working. There are no hidden charges and no cancellation fees, you will know the amount you need to pay before you start, and then decide whether to hire us after consideration.
Other frequently asked questions about debt recovery
What if the debt collection company comes to harass me?
Alert immediately, especially if you are threatened or afraid. The debt collection company does not have any special powers to request access to your home/office/shop to search your property or documents, or to use threatening language. They are subject to the same laws as others, and the illegal acts that you cannot do apply to them as well.
The debt collection company asked me to repay more than I actually owed. What should I do?
Regarding the amount owed by one party to the other party, only the court can make a final decision about debt recovery. You should not pay the appropriate amount just because of the debt collection company's request. If the debt collection company tries to harass, threaten or otherwise intimidate you, please call the police immediately.