Debt collection practices being regulated, but a few areas need careful consideration

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Legislation may be able to weed out unsavoury practices, but it must be backed by financial literacy, social support. Read more at straitstimes.com.

Years ago, our former domestic helper took up a loan with an unlicensed moneylender and gave out our home phone number.

When she couldn't repay the loan, the moneylender spammed us with so many threatening phone calls that we changed our number.This will regulate debt collection activities here - such as through a licensing regime - and curb problematic debt collection practices.Get exclusive reports and insights with more than 500 subscriber-only articles every month

 

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