While the new Debt Consolidation Plan (DCP) is offered by 14 participating financial institutions, the Debt Management Programme (DMP) is another debt repayment scheme offered by Credit Counselling Singapore (CCS) since 2004. CCS is a registered charity and an agency that assists people with unsecured debt problems.
Yet another avenue, the Debt Repayment Scheme (DRS), is an alternative to bankruptcy.
The Sunday Times outlines the three debt repayment schemes.
DEBT CONSOLIDATION PLAN (DCP)
Launched in late January, the DCP provides an avenue for customers to be more disciplined in their debt repayments. In a nutshell, it offers a customer the option to consolidate his unsecured credit facilities (such as credit cards and some …
Read the full article at: http://www.straitstimes.com/business/invest/spotlight-on-debt-repayment-programmes
