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Why Using a Debt Collection Agency is the Most Effective Way to Recover Your Money

It’s safe to say that there are few things more frustrating than falling victim to a scam or other sour situation where you find yourself tricked out of your hard-earned cash—unfortunately, bad loans, scams, and other unsavory transactions happen all the time.

Crime rates in Singapore rose last year, mostly due to an exponential increase in scams. Each year, Singaporeans lose millions of dollars to dishonest businesses and individuals, and scammers are getting cleverer. If you’ve been a victim yourself, you’re far from alone!


If you’re one of the many individuals who find themselves scammed each year, or if you’ve been taken advantage of monetarily, not all hope is lost. You may pursue a few different routes to attain the money you’re owed.

When you’re having a problem related to money, your first instinct may be to contact your bank—they’re the backbone of the financial institution, after all! Or, if you’ve been scammed via a purchase through a site like eBay, or if you paid for a purchase via PayPal, perhaps you’ll be tempted to contact those companies.

Unfortunately, this may not yield the best results. Even if these companies do respond to your initial concerns and assure you that they have plans to investigate the problem, don’t expect much. Numerous accounts exist of frustrated individuals who approach online retailer hosts (like eBay or AliExpress) only to receive apathetic responses or inconsistent communication.

Unfortunately, bank employees may not be any more helpful. Some people are successful retrieving their funds through these sources, but what happens when your initial contact yields no results or if your situation is out of your bank’s hands?

Your bank or other financial companies like PayPal may not always be able to help you recover your money. For example, only certain types of purchases are covered by PayPal’s buyer and seller protection policies, and other online retailers have only so much power.

Many attorneys advertise specialization in debt recovery and promise that they can help you retrieve funds lost to scams, nasty businesses, or loans gone bad. However, the cost of hiring legal services may be prohibitive to some, particularly if they are struggling after a substantial financial loss.

Additionally, lawyers are excellent at sending letters to debtors, but that’s where the road ends. In some cases, a letter threatening legal action may spur reaction and cooperation from debtors, but there are just as many dishonest individuals who will ignore the letter from an attorney and continue with their daily lives.

Then what? Beyond sending legal correspondence, there is little more that a lawyer can or will do to recover your money.

This is, by far, the most effective action you can take in order to get your money safely back in your hands. Whereas banks or online retailers may respond to your loss only with apathy, and where lawyers may only send a letter to your debtors with little result, debt collection agencies will go above and beyond to make sure your debtors pay up.

Debt collection agencies provide their clients with the most flexibility, compassion, and persistence when they are approached with a new case. They will communicate with you reliably and won’t abandon their efforts when they encounter a stubborn case. If a letter is ignored, a debt collection agency will send their own professional representatives for an in-person visit and the best results!

This is, by far, the most effective action you can take in order to get your money safely back in your hands. Whereas banks or online retailers may respond to your loss only with apathy, and where lawyers may only send a letter to your debtors with little result, debt collection agencies will go above and beyond to make sure your debtors pay up.

Debt collection agencies provide their clients with the most flexibility, compassion, and persistence when they are approached with a new case. They will communicate with you reliably and won’t abandon their efforts when they encounter a stubborn case. If a letter is ignored, a debt collection agency will send their own professional representatives for an in-person visit and the best results!

Another advantage of approaching a debt collection agency first is that they’ll be able to help you recover your money no matter the situation. While banks, retailers, and even lawyers are limited in their ability to pursue particular cases, debt collection experts can effectively tackle any situation, no matter how complicated or unique.

If you are struggling to recover money from a particularly sensitive case, a debt collection agency is your best bet. For example, it’s not uncommon for a friend or family member to borrow money from you, only to never return it. Perhaps you’ve cosigned a loan, thinking that you were doing a loved one a favor, only for that same loved one to default on the loan and leave the financial responsibility in your hands.

In cases like these, where you have a personal relationship with your debtor and don’t want to threaten them with the fright of legal action or other humiliating tactics, working with a debt collection agency allows you an opportunity to take a more sensitive and empathetic approach.

These debt collection experts will work with the debtor to analyze their own financial situation, then devise a payment plan favorable to both parties. These negotiations will always be carried out ethically and with the utmost respect.

Finally, some debt collection agencies have impressive track records of success that emphasize their trustworthiness. For example, JMS Rogers has been serving its clients and helping them successfully reclaim their funds for nearly 15 years. In fact, they’ve been around longer than any other debt collection agency in Singapore!

How’s that for a solid reputation?

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