New group to boost debt collection firms' image
In a move to boost the image of debt collectors, 10 debt collection companies have formed the Credit Collection Association of Singapore (CCAS).
The CCAS aims to promote best practices and restore the reputation of ethical operators.
In a press release yesterday, it said it would be developing a code of conduct for its members to ensure that their behaviour is of the "highest professional and ethical standards".
CCAS president Chen Yew Nah said many reputable firms in Singapore provide professional debt collection services.
"For too long, the image of our industry has been tarnished by illegal operators and bullyboy tactics," added Ms Chen, the managing director of DP Information Group.
She hopes the association will improve the public image of the legal debt collection industry.
- Shaffiq Alkhatib