Key facts
- Success based commission: if nothing is recovered, you pay nothing
- Send the case on WhatsApp and hear back within 24 hours
- Most contract debts can be sued on for six years from when payment fell due
- Every debt collection company in Singapore must hold a Police licence since 1 March 2024
What we recover
- Unpaid invoices between businesses, including overdue progress claims and retention sums
- Outstanding debts owed by companies and by individuals
- Debts owed by debtors in Singapore and overseas
- Personal loans, where you hold evidence such as bank transfer records or messages in which the debtor acknowledges the amount
How a recovery works
- Send us the case on WhatsAppThe invoice or statement of account, the amount owed, and any messages with the debtor. No forms and no login.
- An honest assessment within 24 hoursA member of the Speedy team speaks with you, asks what we need to know about the debtor, and tells you plainly whether the debt is worth pursuing.
- Demand, then follow throughOnce engaged we issue a letter of demand, then follow up by call, message and, where it helps, a visit to the debtor’s business address. We negotiate full payment or an instalment plan.
- Updates on WhatsAppYou hear from us at each step, so you always know where your case stands.
- If the debtor still refusesWe set out your options, from the Small Claims Tribunals to court action, and can refer you to our legal partners.
What to send us
- The invoices, statement of account, or loan record showing the amount owed
- The quotation, purchase order, contract, or delivery orders behind the invoice
- Messages or emails where the debtor accepts the work or admits the debt
- The debtor’s name, company name and UEN if it is a business, and their last known address
The more of this you have, the stronger our letter of demand and the faster most debtors respond.
When to hand a debt to us
As a rule of thumb, once an invoice is about 60 days overdue and your own reminders have gone unanswered. The longer a debt sits, the harder it is to collect, and for most contract debts the time limit to sue in Singapore is six years from when payment fell due.
Debt collection company, tribunal or lawyer?
Most of our clients come to us before going to court, because a collection company is faster and costs nothing unless money comes back. Here is how the main routes compare.
| Route | Who it suits | Limits | Cost to you |
|---|---|---|---|
| Debt collection company | A debtor who can pay but keeps delaying, or has gone quiet | Must hold a Police licence. Cannot take court action for you | Speedy: a commission on what is recovered. No recovery, no fee |
| Small Claims Tribunals | Disputes over goods or services, where you can represent yourself | Up to S$20,000, or S$30,000 if both sides sign a Memorandum of Consent. No lawyers | Filing fees. An order still has to be enforced if the debtor ignores it |
| Magistrate's Court | Larger claims, usually with a lawyer | Up to S$60,000 | Legal fees, usually paid whether or not you recover |
| District Court | Larger commercial claims, with a lawyer | Up to S$250,000 | Legal fees, usually paid whether or not you recover |
| Statutory demand (company debtor) | An undisputed debt owed by a company | Debt over S$15,000. The company has 21 days to pay before it can be presumed unable to pay its debts | Usually prepared by a lawyer |
For the full picture, including what the Debt Collection Act 2022 allows and forbids, read our guide to debt collection in Singapore.