Instead, you should gather more information about the debt it may be illegitimate, or you may not owe the amount they say you do. Demands for Immediate Paymentĭebt collectors may ask you to pay over the phone immediately, but you aren’t required to comply. But even if the debt is legitimate, the debt collector has violated your rights under the FDCPA, and you should document these violations as this can help protect you. Remember, just because a debt collector breaks the law doesn’t mean they’re running a scam. Contacting third parties about your debt other than your attorney, credit bureaus, the original creditor or their own attorneys.Contacting you at the workplace if your employer doesn’t permit the communications.

Contacting you outside the hours of 8 a.m.Repeatedly harassing you with phone calls.Threatening you with violence, jail time or other false consequences.Fraudulent debt collectors are already breaking the law, so they may not be as careful to avoid the following illegal behavior:

The Fair Debt Collection Practices Act (FDCPA) makes it illegal for debt collectors to engage in many types of abusive or deceptive behavior. But criminals posing as legitimate debt collectors may also target you, using deception or intimidation to collect debts you don’t owe, or they have no authority to collect. Our Customer Terms, Current/Cheque/Savings Account and Time Deposit Terms, Personal Loan/Personal Line of Credit/Overdraft Terms, Credit Card Terms, Credit Card Tariff Sheet and Terms and Conditions Governing Debt Consolidation Facility apply.When creditors sell your unpaid debt to a collection agency, the debt collector can call you directly to try and collect what you owe. The interest rate offered to you is based on your personal credit profile as determined by us and may differ from the published interest rate and the interest rate offered to other borrowers.įor illustration, EIR is calculated taking into consideration of S$199 joining fee and based on average loan amount of S$80,000 and all instalment payments are paid by their respective due dates during the 7-year loan tenure.ĢThe credit limit for the Platinum Mastercard Credit Card issued with Standard Chartered Debt Consolidation Plan is equivalent to your monthly salary as per the bank’s assessment with your latest income document. (EIR 6.50% p.a.) and interest is subject to compounding if not serviced. charged by the other banks (b) no new amounts are drawn down (c) the total outstanding balance of S$80,000 is transferred to Standard Chartered Debt Consolidation Plan of a 7-year loan tenure and interest rate of 3.48% p.a. Wish to speak to us for more information? SMS LOANDCPINFONAME to 77222 for us to call you back.ġThe illustration above is based on the assumption that: (a) the total outstanding balance of S$80,000 is subject to an effective interest rate (EIR) of 26.9% p.a.

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