Beware of these facts if you are Encountering Moneylender Singapore

The Moneylenders Act in Singapore carefully regulates the activity of licensed lending institutions. This involves safeguarding the borrower's confidentiality, privacy, and integrity. Debt collection is usually outsourced to debt collection companies, who will pursue you for the money owing on behalf of the licensed money lender.

We've all heard horror stories of debt collectors spraying Moneylender Singapore

• pounding on doors, and throwing vulgarities at nonpaying debtors.

No borrower serves as a member of one of these situations. Licensed Moneylender Singapore’s and debt collectors must follow the CCAS Code of Ethics, although they are not required to do so by law. The code is only intended to be used as a guide.

As a result, it is critical that you are informed of any illegal acts they may take against you. In Singapore, a licensed Moneylender Singapore or debt collector cannot:

Monitoring

Under the Protection from Harassment Act, a Moneylender Singapore or debt collector cannot constantly monitor and track the whereabouts of a borrower since this might be deemed criminal stalking. An act like this is illegal, especially if the purpose is to frighten or disturb you.

Participate in an unauthorized gathering

Any licensed money lender cannot come after you in a mob-style, that is, in a group of five or more persons, for debt payback. This might be considered an 'unlawful assembly,' which could result in a jail sentence.

Threatening

The Protection from Harassment Act may apply if a lending institution or creditor verbally scares you with vulgarities or threatening to hurt you or your relatives. It is against the legislation to use threatening, offensive, or insulting words or acts with the intent to cause fear or distress, according to the Act. If they threaten to harm you or ruin your house, they may be charged with criminal intimidation so under civil code. It's important to note that the money lender or debt collector doesn't have to touch you or use verbal threats. If he intimidates you using gestures, you should report him as a worrisome threat.

Injure others

In Singapore, causing bodily harm to another person is a serious crime.

If a money lender or creditor harms a borrower to the point that he is injured or unconscious, the criminal faces up to 2 years in jail or a S$5,000 fine, or both. Offenses involving grave bodily harm, such as inflicting fractures, dislocations, or permanent injuries, might result in a 10-year jail sentence, a fine, or whippings.

Your belongings may be damaged or taken away from you.

Some debt collectors may threaten to destroy or take away your home, car, or other valuables if you don't pay up. Even a licensed Moneylender Singapore cannot confiscate any of your possessions without a Writ of Seizure and Sale issued by the Singapore Courts. A money lender or debt collector cannot also cause damage to your property. Alternatively, he will be prosecuted under the Penal Code, which carries a penalty of up to a year in prison, a fine, or both. This is true even if the property is not fully destroyed but has been damaged in a way that reduces its value or utility.

We have a high quality clear face shield. We have provided high quality clear face shield to a large no. of customers.