Observe these dos and donts when using a Debt Consolidation Plan (DCP) to manageoverwhelming credit card debt.
When debt coming from multiple credit cards becomes too much to handle, a Debt Consolidation Plan (DCP) can help rebuild your financial life.
Weve explained how a DCP works in Singapore. In a nutshell, it combines all your existing unsecured debt into a single loan with a potentially lower interest rate.
A DCP has a fixed term and monthly payments that go towards paying off your total unsecured debt. If used properly, this should eliminate your debt efficiently and can even save you money on interest payments.
However, like any other financial product, using a DCP requires discipline and a serious commitment towards paying off …
Read the full article at: https://www.asiaone.com/money/dos-and-donts-debt-consolidation-plan
