A 53 Year Old Man Penalized For Threatening A Debt Collector

Mr. Chew, the Collector
Mr. Chew a business relations manager at Double Ace Associates, a debt collection company in Singapore, was onto his job of recovering a debt from a debtor’s flat. He was quoted as saying that as he reached the destination, the debtor’s 53 year old father raced towards him with an axe. firestarter app account

Mr. Chew saidthat he ran as fast as he could to save his life, because surely he could have been killed by the weapon.

Mosaic layer Wong Foo, the father of the debtor was fined $3000 for pleading guilty to the act.

The Debtor
The debtor, Mr. Wong Jun Hua, was a 26 year old salesman, who had defaulted on a motorcycle payment for the past four months. Mr. Chew with three other debt collectors had reached his flat for the loan recovery, which escalated into a dispute. Mr. Wong’s father, who was returning home at that moment, went to the flat and came out with an axe in his hand.

He damaged the windows of the flat and threatened to put the blame on the debt collectors.

Mr. Chew Manages To Record The Incident On Camera
Mr. Chew said, he was able to take a video of Mr. Wong’s father damaging the windows, and that one of his hands was also bleeding after the incident. He said, then all of a sudden, he rushed towards them with the axe and they fled away.

Mr. Wong’s father chased Mr. Chew to the staircase and swung the axe on the metal railings to frighten him, but the axe broke into two. Yet again, he swung the axe handle in his direction.The police arrived after Mr. Wong had called them.

The Lawyer’s Statement
In his mitigation, the debtor’s […]

By |November 27th, 2014|Debt, Debt Collection|0 Comments|

Strategizing Your Debt Collection System

Debt collection can be a daunting task. There are several ways of communicating with your debtor. Out of these, you will have to select the one that is most effective. However, once you choose a suitable mode of communication, you will have to think about the cost involved in employing that method.  Then, there will be some exceptional debtors for whom your chosen method might not work. You will have to find some other mode of communication to satisfy them. This gives rise to a lot of mind-boggling permutations and combinations. It has very high indexing rate along with an affordable price. It is really easy to use Indexification as you only need to start a campaign for your link and it will start indexing the links on your choice. It has quite high indexing rate and it does not cost high. recommended for beginners. best backlinks indexer review Most of the males try out different traditional methods to restore their health and testosterone count in the body. Unfortunately, they don’t achieve the results they dreamt of. Spartagen XT is the revolutionary testosterone formula that claims to increase your endurance level ad boost muscle building results without negative effects. spartagen xt reviews In order to make your life a little simpler, here’s a guide that will help you strategizing the best debt collection system for your business.

Strategizing an Economical Debt Collection Process

The debt collection process should not cost you a fortune. The returns expected from the debt collection processes should be higher than the expenses incurred for it. If you fail to do so, you will have to face business losses and failures. This is because nothing will be retrieved as profits. Hence, to avoid this, it is advisable to resort to a cheaper method of debt collection. However, opting for a cheaper method can be a challenging task, especially when you are dealing with a large number of debtors. In such situations, a debt collection agency can be really helpful. They will professionally take care of client-relationships and debt retrieval for a nominal fee. However, before hiring them, just make sure that they abide by law and are competent enough to represent your business.

When Is the Right Time to have More Debtors?

Debtors are the assets of a business. They represent the cash-generating capacity of an organization. Thus, a high volume of debtors define your business’s prosperity. However, such prosperity comes with a risk of non-payment, bad-debts and losses. Hence, you will always find financial advisers suggesting you to keep your credit period least in order to minimize risks of bad debts. This might be a safe option; however, it might not be instrumental in your business’s growth as a longer credit period definitely attracts more customers. So, how do you balance between the risk and benefits of long credit periods? The answer is simple – You strategize your credit policy as per your business’s environment. If an opportunity or need for longer credit period arises, you should employ it immediately.