Contracts Act (Cap. 2): Primary legislation governing the formation and enforcement of contracts in Singapore. Essential for ensuring the payment plan letter meets basic contractual requirements.
Consumer Protection (Fair Trading) Act: Legislation protecting consumer rights in Singapore, particularly relevant if the debt involves consumer transactions.
Moneylenders Act: Regulates moneylending activities and debt collection practices for licensed moneylenders in Singapore.
Banking Act: Key legislation governing banking institutions and their practices in Singapore, including debt collection activities.
CCAS Guidelines: Guidelines for Debt Collection Practices issued by Credit Collection Association of Singapore, establishing industry standards and best practices.
Registry of Moneylenders' Directions: Specific directions regarding acceptable debt collection practices issued by the Registry of Moneylenders.
Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data in Singapore, crucial for handling debtor information.
Limitation Act (Cap. 163): Establishes time limits for debt recovery actions, typically 6 years for contractual debts in Singapore.
COVID-19 (Temporary Measures) Act 2020: Temporary legislation providing relief measures for debts incurred during the COVID-19 pandemic period.
Bankruptcy Act: Regulates bankruptcy proceedings and protections, important for understanding debtor rights and limitations.
MAS Guidelines: Regulatory guidelines issued by the Monetary Authority of Singapore affecting financial institutions and debt collection practices.
