Knowledge & Insights

First introduced in Parliament on 13 August 2022, the Debt Collection Act 2022 (DCA) came into force on 1 December 2023. Following the end of a three-month transition period, from 1 March 2024, all persons or entities which carry on a debt collection business, or carry out any debt collection activities in the course of their business, must be licensed under the DCA. This marks the first time that the collection of monetary debts in Singapore will be regulated.
 
This article considers the policy objectives of the DCA, highlights its key features, and sets out some observations on its scope as well as its implications for debtors and creditors.

If you would like information and/or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or the following Partner:

Daniel CHAN
Partner – Banking & Financial Disputes
d +65 6416 8104
e daniel.chan@wongpartnership.com
Click here to view Daniel’s CV.