Last updated: 

I am called to pay my debt earlier than the agreed time.

I have a debt borrowed from a company, we both signed to an agreed contract including the due date and all its benefits and cons if not paid within the given time. However, a month after I borrowed the money, I have received a letter that notfies me to pay my debts within a week. I was confused as I still have a month to pay and yet they are asking me to pay earlier than the due date. As I informed them upon the situation, they told me that it is what it is and I need to pay immediately.

User comments

  • user image

    No Name

    A law exists in Singapore that is strictly states that certainty and completeness (Ch 08 Law of Contract) must be present in a contract before being agreed upon. Given that you and the company have agreed upon a specific time, they cannot and must not forced you to pay other than before or on the exact day of due date. Hence, if not followed or attended, the other party may file a civil suit for a breach of contract.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

I have a debt and charged me with high interest rate, what should I do?

What will happen if someone unfortunately die of accident leaving his debts behind?

Is my brother a possible guarantor?

What happens after one has declared bankruptcy?

Is being a guarantor a practical job?

I need assistance with my debts.

Related Reviews

For people who buys groceries at NTUC Fairprice

I recommend the OCBC Plus! Visa Debit Card, for people who buys groceries at NTUC Fairprice (practically every Singaporean who’s not on RedMart). The OCBC Plus! Visa Debit Card offers a decent 4% rebate at NTUC FairPrice, Unity and Warehouse Club if you spend $200 outside of the “NTUC network” that month. If you spend $500, and your rebate goes up to 7%, you also get 3% link points when shopping on FaiPrice On. The downside is that the OCBC Plus! Visa Debit Card has an annual fee of $24. This is waived for the first year and subsequently takes $1,200 of spending per year (avg. $100 a month) to waive.

OCBC Plus! VISA Debit Card / Oversea-Chinese Banking Corporation

Greater control over foreign currency exchange rates that you get

With UOB Mighty FX, you not only save on additional foreign exchange (FX) conversion fees when you shop on overseas websites, but you also have greater control over the foreign currency exchange rates that you get. UOB Mighty FX allows you to view and exchange with real-time foreign exchange (FX) rates for popular currencies including USD, GBP, Euro, Australian Dollar (AUD) and Japanese Yen (JPY). Some exchange rates offered by UOB Mighty FX are even better than those at popular money changers, so clearly, this can help you save some money.

UOB Mighty FX / United Overseas Bank

No annual fee and works as a multi-currency card

Citibank only has one debit card which is the Citibank Debit Mastercard. Regardless of whether you bank with Citibank regularly, this is a useful debit card for frequent travellers. This debit card with no annual fee works as a multi-currency card if you link it to a Citibank Global Foreign Currency Account. Like with the DBS Multi-Currency Account, you can easily convert SGD to 9 foreign currencies: AUD, CAD, EUR, HKD, JPY, NZD, GBP, USD and Swiss Franc.

Citibank Debit Mastercard / Citibank Singapore

Spend at least $400 a month and get 4% rebate

This debit card comes with free PAssion membership of up to $12 for 5 years. Don’t know what’s so great about that but it adds up for some people. Plus when you spend at least $400 a month on the POSB PAssion Card, you get 4% rebate at Giant, Cold Storage and Guardian. If you have a family, you also get 5% rebate at popular Singapore places of attractions and 1-for-1 tickets on the 10th of every month.

PAssion POSB Debit Card / DBS Bank

No transaction fee for your cash withdrawal via 24,000 BOC ATMs in Mainland China

With this card there are no currency exchange fees for all RMB transactions through RMB account. Plus enjoy convenience via UnionPay, the largest payment network in China. Interestingly, if the balance on your RMB sub-account is insufficient, the card will deduct from your SGD sub-account based on BOC’s real time exchange rate. There are no transaction fee for your cash withdrawal via 24,000 BOC ATMs in Mainland China for a limited time however.

BOC UnionPay Dual Currency Debit Card / Bank of China

24-hour Concierge and minimum of 16 years of age eligibility

Major highlights with this card has got to be the 24-hour Concierge, minimum of 16 years of age eligibility, 1% cashback on overseas and online transactions with minimum spend of SGD $1,000 per quarter, 0.3% cashback on local transactions with minimum spend of SGD $1,000 per quarter and enables contactless payment with maximum spend of SGD $100 under UnionPay QuickPass.

DBS UnionPay Platinum Debit Card / DBS Bank