Debt collection agents facing a tough time during pandemic

Clients may not be keen to spend on hiring them even as many debtors default on loans

Above: Fast Debt Recovery Specialist founder Lyn Ling says the industry has been hit hard during Covid-19. "I'm not sure how many have closed down due to bad business, but those (debt collection agencies) that are now active on their Facebook pages a
(from left): Singapore Debt Collection Service's chief executive Keagan Tan, operations manager Kelvin Ho and general manager Kenneth Tan, who have encountered hostile debtors in their work. ST PHOTOS: ZAIHAN MOHAMED YUSOF
Fast Debt Recovery Specialist founder Lyn Ling says the industry has been hit hard during Covid-19. “I’m not sure how many have closed down due to bad business, but those (debt collection agencies) that are now active on their Facebook pages are those that are still surviving.” ST PHOTOS: ZAIHAN MOHAMED YUSOF
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Debt collecting is not a job for the faint-hearted and the task has become downright hair-raising amid the pandemic, as a two-man team discovered during Chinese New Year.

What seemed a routine call-out quickly escalated into a tense stand-off and the police being called.

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A version of this article appeared in the print edition of The Straits Times on February 27, 2021, with the headline Debt collection agents facing a tough time during pandemic. Subscribe