Fast Debt Recovery Specialist Among First Licensed Under Singapore's New Debt Collection Rules
With their 100% compliance rate, Fast Debt Recovery Specialist achieves a significant milestone as one of the first Singapore debt collection agencies to receive a prestigious debt collection licence
SINGAPORE, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Fast Debt Recovery Specialist, Singapore's premier debt collection agency, has achieved a significant milestone by becoming one of the first to receive the newly implemented debt collection licence by the Singapore government. This certification underscores the agency's unwavering commitment to lawful and effective debt collection practices. In line with their business philosophy, "No one deserves to be a victim of broken promises," this licence further solidifies their dedication to ethical and transparent operations.
Founded in 2017, Fast Debt Recovery Specialist has rapidly grown to become the preferred collection partner for businesses and individuals seeking assistance with local debt collection. The agency distinguishes itself by blending personalised field visits with cutting-edge technology and a robust benchmarking system, ensuring transparency and accuracy in all operations. Their compliance rate exceeds 100%, and they maintain an impressive average debt collection rate of 72%.
In 2024, all debt collection agencies in Singapore are mandated to operate only with a valid debt collection licence awarded by the Singapore Police Force. Fast Debt Recovery Specialist is among the first agencies to receive this prestigious licence, which is reserved for agencies recognised for their dedication to lawful and effective debt collection practices. This endorsement is vital as it establishes Fast Debt Recovery Specialist as a legally compliant and trustworthy agency. It also reassures their clients, both locally and globally, of the integrity of their practices and their team in delivering collection services within Singapore.
The debt collection industry often faces unfavourable perceptions, even for legitimately credible agencies like Fast Debt Recovery Specialist, due to stigma and unethical practices that have surfaced in the news. By obtaining this licence, Fast Debt Recovery Specialist further elevates its credibility, assuring clients of their ethical practices.
"Receiving this licence is a testament to our dedication to compliant and transparent debt collection," said Ms. Lyn, Founder of Fast Debt Recovery Specialist. "We are committed to setting the highest standards in the industry."
Fast Debt Recovery Specialist offers a comprehensive range of debt collection services, combining personalised field visits with advanced technology. Ms. Lyn attributes their growth to their unique methodology. "Our approach includes a stringent employee vetting process and a robust benchmarking system that ensures transparency and accuracy in all our operations. By handling everything in-house, we empower our clients to protect their reputation more effectively, achieve higher satisfaction, and see better success rates."