Harassment by Debt Collection Company

[Subok]

LEGALLY your friend is not liable to pay. However, LEGALLY they are entitled to demand repayment from your friend as long as he remains a director since you demand payment from a comapny through its directors.

So as long as the debt collectors do not trespass your friend there is nothing he can do. Might as well pay up the $1k.

Proper method is go court get a court to award you the money owning, then using the letter from court go seize company property etc. BUT director unless otherwise guarantor, if not DIRECTORS ARE NOT LEGALLY LIABLE to be harassed at the privacy of their HOME. Harassment can be done at the office where the Business is registered at.

I hope businessman in such predicament before can offer some light. Class95 with due respect please keep to your "iron" rich bowl eat your fill and keep your Class95 mentality to yourself.

 

[Subok]

truth hurts hur, a bloody loser comes here and put everyone down

BTW, seriously your words don't hurt me as much as it frustrate me how come you are so ill informed still wanna push your way through? I sincerely hope no one in your family falls into this predicament anytime soon. Show mercy as you would wish to have received otherwise none would be shown to you. The true failures in life are those who failed to try!

Go cocooned yourself, no one is expecting you to come out of it, at least for me. I doubt you would be anything more beautiful than a sour prune. Can feel your bitterness and unjust being a Class95 innocently being blasted on in real life as a Class95ers earning their honest keep yet harass on behalf of your superior over penny debts. *sigh*.. Tough huh? life at Class95? but still better as it is DEBT FREE! you have my utter salutation.

Just to add in a note for my friend, while his biz was around, his biz supports many families, some with young kids, including ex-convicts, teenage delinquents etc. If not for the difficulties the company is facing, he would have just kept the business just to keep these guys on his payroll. No I am not saying how HONORABLE he is, I am just saying he certainly don't deserve to be run down by uncouth people like you!

You can go fly kite for all you want but do not spit on those who do not share your views on life "stable debt free" outlook and risk to venture out, in the midst providing for ungrateful Class95-ers like yourself.

 

[vamjok]

yah la everyone here is a class 95, bloody come here put everyone down acting some big fuck.

i rather be a class 95er than a half basket shit that has to restort to this forum for legal advice.

support many families and ex convicts, what's that company that winds down? if its true i salute your friend. but i also know sentosa cannon recently got stolen.

i have seen enough of NATO singaporean that only talks.

 

[Subok]

Well, it's true. Otherwise I probably would be coming here say MOM coming after him how?

Precisely debt collectors are Grey areas. I am asking around to see if people had experience with them. But obviously I attract the crowd of the wrong kind. I did not start to put you down until you resort to insulting my friend. And do not try to pull a quick one by saying and pulling "everyone" into the arena and classifying them into your loser Class95-ish attitude, drawing pssoible firing power at me.

And no sentosa cannon had been stolen, if yes ST would report it, otherwise I think YOU are the culprit. And I do not think you can REPRESENT the entire Class95-ers. A loser mentality that laugh at life-venture-loser. Well at least my friend tried while you are here, grumbling about unfair treatment from your top as well as outside.

Now after flying your layang, you can go look for some spiders at the bush. They will keep you entertain as long as you are YOU - life's quitter

 

[vamjok]

Oh is it? have you try reread back what the fuck you type? as long someone post something you did not like, you shoot them ask them to shut up say normal class 95 don't understand a shit.

if you are so fucking insecure to the extend you need reassurance from someone here, very much shows how much you are as a quality to venture into the unknown. so don't talk as if you are bloody successful for anyone can be a keyboard warrior.

with your arragont attitude, i won't be surprise things you do not last much long. i welcome you with open arms back to the class 95 one day when you wake up your idea.

 

[blackmore]

Hmm, 1k debt and they rope in thugs. Most companies would write that off after a few years. Best you ask your friend what is the relationship between the director and the vendor (or the bad blood whatsoever). There's more to it I believe.

The debt collectors deployed seems to be a spite reaction of the creditor to the debtor. Its apparent that the creditor is willing to lose the sum but wants the credibility of the debtor go down the drain with the harrasment.

 

[cass888]

Proper method is go court get a court to award you the money owning, then using the letter from court go seize company property etc. BUT director unless otherwise guarantor, if not DIRECTORS ARE NOT LEGALLY LIABLE to be harassed at the privacy of their HOME. Harassment can be done at the office where the Business is registered at.

I hope businessman in such predicament before can offer some light. Class95 with due respect please keep to your "iron" rich bowl eat your fill and keep your Class95 mentality to yourself.

LEGALLY, he is not liable.

Howeve,r since you ask about LEGALLY, I can tell you what business people do LEGALLY. Difficult to sue for $1k since they will end up paying more than $1k so what they do is to hire these debt collection agencies who wear "Debt Collection Agent" jackets and wait outside your friend's house. They can even call your friend's friends and ask them to ask him to make payment.

Harassment is LEGALLY not a crime unless it breaches any particular law. LEGALLY they can call and ask for payment. LEGALLY they can write to his home. LEGALLY they can ask his children to ask their daddy to make his company pay the debt. LEGALLY they can ask his girlfriend/wife/mother-in-law to ask him to make his company pay.

Don't try to be too clever about what LEGALLY means.

And by the way, learn the difference between "owN" and "owE".

 

[cass888]

The reason why a PTE LTD is set up is precisely the name suggest PRIVATE LIMITED LIABILTY. Arrgh.. I am not hoping people to say nice stuff but certainly INTELLIGENT stuff would suffice.

The reason why creditors LEGALLY hire debt collection agencies to LEGALLY chase your friend for money is because of assholes like your friend who start PRIVATE LIMITED LIABILITY companies and then don't want to pay the money it owes.

I hope the debt collector LEGALLY goes to your friend's son's school and LEGALLY ask his son's friends to ask his son to ask his father to make his company pay the money he owes.

I hope the debt collector LEGALLY goes to your friend's mother-in-law's house and LEGALLY ask her to ask him to make his company pay the money he owes.

The way you keep spewing "PRIVATE LIMITED LIABILITY" makes your friend's intentions crystal clear.

 

[pweesng]

The reason why a PTE LTD is set up is precisely the name suggest PRIVATE LIMITED LIABILTY. Arrgh.. I am not hoping people to say nice stuff but certainly INTELLIGENT stuff would suffice.

I think there is some misconception about "pte ltd" here.... yes, the losses of the business is restricted to the capital injection of the shareholders, or directors of the company.

However, if the director or the management already haev knowledge of the company's going concern and already has information about its insolvency, AND yet, still incur the debt, the director or shareholder can be made liable for the debt.

so the loss restriction is only restricted to certain cases. There have been cases where shareholders and directors are made liable for losses and that includes seizure of personal assets to repay a debt. It is not unheard of.

 

[SIFU]

your fren can chose NOT to pay back, as like what u say, legally it is a pte ltd company..

the supplier can chose to engage debt collector to harrass your fren, likewise it is his choice..

dun give whatever reasons like the suppliers already earn more than 10k before..

u fren can chose NOT to pay, suppliers can chose to harrass him..

the way u reply seems like it is not your fren problem.. u r your 'fren' rite..

 

[cass888]

your fren can chose NOT to pay back, as like what u say, legally it is a pte ltd company..

the supplier can chose to engage debt collector to harrass your fren, likewise it is his choice..

dun give whatever reasons like the suppliers already earn more than 10k before..

u fren can chose NOT to pay, suppliers can chose to harrass him..

the way u reply seems like it is not your fren problem.. u r your 'fren' rite..

Yes, he does seem very passionate about it. One of those who thinks world owes him a living just becaue they earned $10k before.

I hope the debt collectors LEGALLY embarass his friend (maybe his reflection in the mirror) to pay up.

 

[Subok]

K, fine, O$P$ sound principles yet warp ideals.

We all wouldn't want to own others money, if you have a choice. Since most of you seek embarrass so be it. Whatever the case, for most of you talk is cheap. At least I lend him or technically almost "gave" him the money to settle salary.

Well if most of you support the rougue style of these gangster debt collection company let's just hope you do not be in the receiving end someday.

I can understand credit card, loans, instalment plan etc but definitely not a Pte Ltd company. Guess the majority rules yet? The majority of Class95-ers. I of higher class I Class96-ers! ahhahah. Still I come in anytime leave anytime I want. Slightly better than losers of those dare not venture but DARE to shoot others when they fall.

And most of you cross read here and there and put the words and meaning as you would like it to be, so much for being intellectual.

Any businessman? Successful or otherwise? And please class95-ers keep your comments to monopoly game.

 

[Zombie]

Subok

Do a search on "Lifting the Veil of Incorporation" or "Lifting the Corporate Veil".

The court can make the shareholders pay the debt of (pte ltd) company, but they must have reasons to do so.

 

[vamjok]

one of the bro be kind to him, just create a new nick to tell him that there is no need for him to pay the money. prehaps it will make him feels better and sleep sounder at night.

 

[Porfirio Rubirosa]

First time I am hearing of this principle in respect of a $1k debt

Apart from a personal guarantee or if this director entered into that sepcific contract knowing or ought to have known that the debtor Co. could not make payment, then I think legal procedure wise it is unlikely that the creditor would have any legal basis to make a claim against the director directly/personally for the $1K.

These sorts of cases occur everyday around the world, it is called the risk of commerce, so why all the big hooha?

As for the debt collectors, can't understand why all the aggro and enthusiasm over $1k. Like what someone else said, probably bad blood between creditor and debtor. As to whether such actions amount to harassment, all depends on the facts. If the actions are just aimed at the director himself then may not be harassment but if it goes beyond the director then possibility.

Btw I heard of more extreme actions used by debt collectors. One group dressed up as monks and followed the debtor all over the place without speaking. Debtor finally freaked out and paid up. But the debt was 6 figures not $1k.

Also the recent Jade Co. case involving the collapse of an Oz FI, which brought the arrival of an Oz mafia toughie to Singapore to follow the $$$ trail.

Subok

Do a search on "Lifting the Veil of Incorporation" or "Lifting the Corporate Veil".

The court can make the shareholders pay the debt of (pte ltd) company, but they must have reasons to do so.

 

[Zombie]

First time I am hearing of this principle in respect of a $1k debt

You missed the part "but they must have reasons to do so."

Is $1k a good reason?

 

[kuntakinte]

Bro, cool it la..... why argue with just another "class 95" ??

With that kind of mentality of all are homogenous to him. and only like to hear what he choose to listen. Why do you bother wasting your breath ? Let him wonder along on his path, we need more people like him in Singapore !! If you dun, I DO.

Oh is it? have you try reread back what the fuck you type? as long someone post something you did not like, you shoot them ask them to shut up say normal class 95 don't understand a shit.

if you are so fucking insecure to the extend you need reassurance from someone here, very much shows how much you are as a quality to venture into the unknown. so don't talk as if you are bloody successful for anyone can be a keyboard warrior.

with your arragont attitude, i won't be surprise things you do not last much long. i welcome you with open arms back to the class 95 one day when you wake up your idea.

 

[cass888]

We all wouldn't want to own others money, if you have a choice.

You can't owN others money. If you owN their money, it's yours not theirs.

 

[Subok]

Sad to say, society at large are merciless towards failures.

Anyway, a good point is why the creditors don't seek court action to leave the corporate veil? THey have absolutely no case. Why? Business truly goes Kapo! NO fraud whateversoever was committed. SOme of you speak as if the money is yours. *sigh*

Duh~ Class95 rules supreme. NO wonder we will always be ruled and not rule.

If the creditors can prove fraud is committed then go ahead with legal recourse. Instead they uses punitive gangster with the objective to seek and destroy in entirety. Come on! THis is business! They took the risk to give others credit which no one force them to so if buyers default, they are at risk! Why must we guarantees the survival of suppliers while watching those SMEs suffers and die at their mercy using gangsters for a few "bucks"? If they are so LEGALLY right, go find a lawyer.

Let's just hope none of your Class95-ers end up here, but then again, you will never get a chance! NOt a chance with such loser mentality.

 

[vamjok]

yah loh, what kind of boss is that few bucks also cannot pay