More than 13,000 people in Singapore are paying off their unsecured debts through debt repayment programmes with banks or Credit Counselling Singapore (CCS).
Of this total, 2,617 people are on the new Debt Consolidation Plan (DCP), which was rolled out by 14 financial institutions in January.
CCS, which offers the Debt Management Programme (DMP), was helping about 10,750 people with its scheme as at the end of last year.
CCS general manager Tan Huey Min says the charity organisation has assisted with over 14,000 debt repayment plans under the DMP since 2004, with some already completed successfully.
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BORROWERS’ PROFILE
The latest CCS statistics, covering 2014 to last year, indi…
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