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About Us
Credit Counselling Singapore CCS serves as an intermediary for debt-strapped individuals seeking to manage and repay their unsecured debts through Debt Management Programmes DMP. This comprehensive program, facilitated by CCS in collaboration with major consumer banks and credit card issuers represented by The Association of Banks in Singapore ABS, enables borrowers to fully settle debts including credit cards, personal loans, overdrafts, renovation loans, study loans, etc. at affordable monthly instalments.
For those with sufficient financial capacity identified during a credit counseling session, DMP offers an opportunity for debt repayment through a formal restructuring agreement between the borrower and creditors. CCS prepares tlored DMP Proposals including Repayment Schedules to ensure all debts are fully settled in manageable monthly installments over a reasonable timeframe at reduced interest rates.
Under a Debt Management Programme, borrowers pay off their unsecured debts incurred with banks or credit card issuers credit cards, personal loans, etc.. The proposed payments align with the borrower's capacity, as determined during a budget review by a CCS counselor.
Creditors must accept and approve each DMP Proposal before borrowers commence monthly repayments aligned with the agreed schedule. Approvals are at the sole discretion of individual creditors.
Borrowers benefit from an Onboarding Session that educates them on expectations and guides them through setting up payments, followed by ongoing support services provided by our Debt Servicing Support team, including financial literacy workshops and mental health guidance.
Upon full debt repayment to all creditors and notification to CCS, the DMP status is reported to Credit Bureau Singapore CBS, which reflects that an individual was on a DMP with CCS. Future credit or loan applications may be affected as creditors are less likely to approve them.
Key Criteria for Debt Management Programmes:
Total unsecured debt exceeds $10,000.
Owes two or more creditors of unsecured debt.
Evaluated to have the financial capacity to fully repay debts in a reasonable timeframe.
Services offered by CCS include:
Talks and Workshops on Consumer and Business Debt Management
Financial Education Sessions
Bankruptcy Support Programme Assistance
Repayment Assistance Scheme RAS
General Information through Frequently Asked Questions
We welcome all inquiries at +65 6225 5227 or via eml to [email protected]. Our office hours are Monday to Friday, from 9 AM - 6 PM, excluding public holidays.
Our location:
CCS
51 Cuppage Road
Singapore 229469
We strive to help borrowers navigate their financial challenges and embark on a path towards debt relief and financial stability. Our team looks forward to supporting you every step of the way.
For more resources, visit our website or download our Monthly Budget Template.
Copyright ? 2024 Credit Counselling Singapore. All rights reserved.
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Credit Counseling Services in Singapore Debt Management Programmes Offered Affordable Monthly Debt Repayments Credit Card and Loan Restructuring Assistance Financial Education Workshops by CCS Bankruptcy Support Programme Information