Is Singapore’s Debt Consolidation Plan working? Household Debt Data shows mixed signals – The Online Citizen

by ValuePenguin In 2017, the Association of Banks in Singapore introduced a new financial instrument called debt consolidation plan (DCP) to help consumers rein in their bloating debt problem. Essentially, this was meant to help individual borrowers combine their high interest loans into one that could be gradually managed down over 1 to 10 years. But, it also had some…