Best Debt Recovery Services in Singapore

The best debt recovery service in Singapore depends on who owes you and how much. For B2B invoices and overseas debtors, use a credit insurer’s collection arm: Atradius, Coface or Allianz Trade. For local debtors, use an SPF-licensed agency such as JMS Rogers or FDR Services. For disputed or large debts, go to a law firm such as IRB Law or Lions Chambers. Foreign creditors with a Singapore debtor can use Oddcoll or its local partner, Upper Class Collections. Every collection agency must now hold a Singapore Police Force (SPF) licence, so check that first.

What’s changed in 2026

• We re-checked every listing in October 2026. We removed SDCS Group because we found no dated sign of activity in the past 12 months.
• We added three providers: Upper Class Collections, FDR Services and IRB Law LLP.
• We added a cost guide with official Small Claims Tribunals fees and published agency rates.
• Late payment is getting worse. In Coface’s APAC Payment Survey 2026, 49% of Singapore firms said delays became more frequent. Only 21% said they improved.
• 57% of Singapore firms in the same survey had at least one customer default in the past year. The APAC figure was 45%.
• Licensing under the Debt Collection Act 2022 has been mandatory since 1 March 2024. Law firms are exempt; agencies are not.

Debt recovery services in Singapore compared

Company	Best for	Starting price	Area
Allianz Trade	Cross-border B2B debts, insured receivables	Quote-based	Robinson Road (CBD)
Atradius	B2B debts without a credit insurance policy	Quote-based; no fee in amicable stage if nothing is recovered	Raffles Place
Coface	B2B recovery plus credit checks	Quote-based	Raffles Place
JMS Rogers	Local SMEs and individuals	Quote-based	Islandwide
Lions Chambers	Court claims and enforcement	S$486 for a one-hour consultation	Jalan Besar
Oddcoll	Foreign creditors, small online claims	9.5% of amount recovered	Online (Swedish platform)
Upper Class Collections	ASEAN cross-border B2B debts	Quote-based; no cure, no pay	Shenton Way
FDR Services	SMEs that want no upfront fee	Quote-based; no recovery, no fee	Chulia Street (Raffles Place)
IRB Law LLP	Lawyer’s letter of demand, then court	Letter of demand from S$500	Albert Street (Bugis)

How much does debt recovery cost in Singapore (2026)?

Most agencies charge a percentage of what they recover. Lawyers charge for their time or a fixed fee per step. Court and tribunal fees are fixed by the courts. Here are the published figures we found in October 2026.

Job type	Typical cost	Source
Agency collection, standard B2B debt	10% to 30% of the amount recovered	Atradius Collections Singapore guide (May 2026)
Online platform, amicable stage	9.5% of the amount recovered (Oddcoll); from 6% to 7.5% (Debitura)	Oddcoll and Debitura Singapore pages
Online platform, court stage	19.5% of the amount recovered (Oddcoll)	Oddcoll Singapore page
Collection for credit insurance policyholders	No extra cost (included in the policy)	Atradius Singapore
Lawyer’s letter of demand	From S$500 (IRB Law)	IRB Law debt recovery page
Lawyer consultation	S$486 for one hour (Lions Chambers)	Lions Chambers website
Small Claims Tribunals, company claimant	S$50 (up to S$5,000); S$100 (up to S$10,000); 3% of claim (up to S$30,000)	State Courts, A Guide to Small Claims
Small Claims Tribunals, individual claimant	S$10 (up to S$5,000); S$20 (up to S$10,000); 1% of claim (up to S$30,000)	State Courts, A Guide to Small Claims
District Court originating claim filing	S$150, plus S$20 for the statement of claim	Debitura Singapore page

A few points help you read these numbers:

• Older debts cost more. Atradius says rates depend on debt age, complexity and the debtor’s location. Debitura adds a surcharge for debts over 12 months old.
• Court costs are paid win or lose. Atradius notes that filing fees and lawyer retainers are payable whatever the outcome. If you win, the court usually orders the debtor to repay part of your legal costs.
• Small debts may not justify a lawyer. On a S$2,000 debt, a S$500 letter plus court work can eat most of the money. The Small Claims Tribunals may make more sense.
• Ask about upfront fees. Most agencies we list say they charge only on success. Some agencies in the market take an upfront fee too. Get it in writing.

Which court hears your claim depends on its size. The Small Claims Tribunals take claims up to S$20,000, or S$30,000 if both sides agree. The Magistrate’s Court hears claims up to S$60,000. The District Court hears claims up to S$250,000. Larger claims go to the High Court.

Time limits matter too. You must file in the Small Claims Tribunals within two years of the cause of action. In the civil courts, you generally have six years from when the debt fell due.

How we chose

We did not hire these agencies or test them with real debts. This list is based on desk research done in October 2026. Here is what we checked for each provider:

• Still operating: dated evidence from the past 12 months, such as recent reviews, site updates or news.
• Licence or exemption: a stated SPF licence for agencies, or law firm status. We could not search the GoBusiness register for every firm, so check it yourself.
• Published facts: address, phone, fees and services as shown on the provider’s own site.
• Fee transparency: whether prices or fee models are published.
• Range of debts: local, overseas, B2B, consumer and individual cases.
• Reviews: what customers say, where we could see dated reviews.

We removed any business we could not confirm as active. No provider paid to be listed. The order of the first six listings is unchanged from our earlier version. New additions follow them.

The best debt recovery services in Singapore

Which debt recovery service should you choose?

Match the provider to the debt, not to the biggest name.

• Your debtor is overseas: Use Allianz Trade, Atradius or Coface for large B2B debts. For smaller claims, Oddcoll gives you published rates.
• A foreign company owes you, and the debtor is in Singapore: Oddcoll or Upper Class Collections. Both use a licensed local collector.
• A Singapore business owes you a few thousand dollars: A local agency such as JMS Rogers or FDR Services. Compare it with filing in the Small Claims Tribunals yourself.
• You are a small business with many small invoices: Atradius’s online platform or Oddcoll. Both let you upload and track cases online.
• The debtor disputes the amount: A law firm such as IRB Law or Lions Chambers. Collectors cannot resolve a genuine legal dispute.
• The debt is over S$20,000 and the debtor ignores you: Start with a lawyer’s letter of demand. Be ready to file in the Magistrate’s or District Court.
• You are an individual owed money: JMS Rogers and IRB Law both take personal cases. For claims under S$20,000 about goods or services, try the Small Claims Tribunals first.
• You already have trade credit insurance: Use your insurer’s collection service first. Atradius includes it at no extra cost for policyholders.
• You want to stop the next bad debt: Coface and Atradius sell credit reports and insurance as well as collection.

Red flags to watch for

• No SPF licence: Since 1 March 2024, a debt collection agency must hold an SPF licence. Ask for the number and check it on GoBusiness. Law firms are exempt.
• Large upfront fees: Most agencies we list charge only on success. Be careful with any agency that wants a big “working allowance” before it starts.
• Guaranteed results: No one can promise to recover a debt. A debtor with no money cannot pay, whoever chases them.
• Threats or shaming: Licensed collectors must follow SPF conduct rules. Harassment can lead to police complaints, and your name is on the case too.
• Payments routed to the agency’s account with no reporting: Ask how and when collected money reaches you. Get regular statements in writing.
• No written contract: The agreement should state the fee, what counts as “recovered”, and what happens to part-payments.
• Old or changed domains: Check the agency’s current website and contact details. Old domains can expire and be taken over by unrelated sites.
• Pressure to escalate to court: Court costs are paid win or lose. Make sure the debt is large enough and the debtor can pay.

Frequently Asked Questions

What is the best debt collection agency in Singapore?

It depends on the debt. For B2B or overseas debts, Atradius, Coface and Allianz Trade have the widest networks. For local debts, JMS Rogers and FDR Services take SME and individual cases. For disputed debts, a law firm such as IRB Law or Lions Chambers can go to court.

How fast is debt recovery in Singapore?

Simple cases can close within weeks if the debtor can pay. Agencies cite cases settled in days, but these are their best results. Disputed debts that go to court can take months. Speed depends mostly on whether the debtor has money and disputes the claim.

How much do debt recovery services cost in Singapore?

Agencies usually take 10% to 30% of what they recover, according to Atradius. Oddcoll publishes 9.5% for amicable recovery and 19.5% at the court stage. A lawyer’s letter of demand starts from about S$500 at IRB Law. Small Claims Tribunals fees for companies start at S$50.

Is there a debt collection agency for small businesses?

Yes. Most local agencies take SME cases, and FDR Services says it handles debts under S$1,000. Atradius accepts clients without a policy. Oddcoll lets you upload a single small invoice online. Ask each agency for its minimum claim size.

What is the difference between debt collection and debt recovery?

The terms are often used the same way. Debt collection usually means calls, letters and visits to get payment. Debt recovery can also include legal action, judgments and enforcement. Agencies handle collection; law firms handle the court side.

How do I check if a debt collector is licensed in Singapore?

Search the company’s name on the GoBusiness licence portal. Since 1 March 2024, debt collection businesses need an SPF licence unless they are exempt. Law firms are exempt. You can also call the Police Regulatory Department on 6835 0000.

Can individuals use a debt collection agency?

Yes. JMS Rogers and IRB Law both take personal cases. You can also file a claim yourself at the Small Claims Tribunals. Individuals pay a filing fee from S$10 there.

Should I use the Small Claims Tribunals instead of an agency?

For claims up to S$20,000 about goods, services or short tenancies, the tribunals are often cheaper. Lawyers cannot represent you there. You must file within two years. If the debtor still does not pay after an order, you will need enforcement steps.

Can a debt collection agency recover bad debts from overseas?

Yes. Allianz Trade, Atradius, Coface and Oddcoll all collect across borders. Upper Class Collections has offices in five ASEAN countries. They work through local offices or partners in the debtor’s country.

What is trade debt collection?

It is the collection of unpaid invoices between businesses for goods or services. Credit insurers such as Atradius, Coface and Allianz Trade specialise in it. They often combine collection with trade credit insurance and credit checks.

How long do I have to recover a debt in Singapore?

Generally six years from when the debt fell due, under the Limitation Act. The Small Claims Tribunals have a shorter two-year limit. Act early, because older debts are harder and costlier to collect.

Can I use a government grant to pay for debt collection?

Probably not. The PSG, EDG and MRA grants closed on 29 September 2026. They were replaced by the EDGE Grant. We found nothing showing that EDGE covers debt collection fees, so do not count on it.