SINGAPORE – People in their 30s and 40s made up the two largest age groups seeking help for credit card and other unsecured debts between 2021 and 2025, according to data from Credit Counselling Singapore (CCS) for The Straits Times.
Their debt issues mainly stem from discretionary spending on lifestyle, as well as income shocks, such as a sudden drop in household income due to retrenchment or pay cuts, said the non-profit social service agency.