Introduced on 20th April 2020 with full details here:
Good News! New Government Policy Change with new Debt Relief Measure for debts from
$60,000 to $250,000.
Debt Repayment Scheme (DRS)
The Debt Repayment Scheme (“DRS”) is a pre-bankruptcy scheme which is administered by the Official Assignee.
It seeks a win-win outcome for both the debtor and his creditor. Debtors with unsecured debts not exceeding $150,000 (with effect Oct 2020) will be able to enter into a debt repayment plan (“DRP”) under the DRS with their creditors and avoid bankruptcy, along with its restrictions and social stigma.
The proposed DRP must ensure that the interests of creditors are adequately safeguarded. These debtors will commit to the DRP and repay their debts over a fixed period of time of not more than 5 years. When the debtor meets his financial obligations under the DRS, he will be released from his debts and have a fresh start thereafter.
How We Help You
We make things easy for you, and closer towards achieving a debt-free life
Free Debt Restructure 1 on 1 Online Consultation
We Have Helped
Saved Interest in S$
Credit Accounts Consolidated
We Assist & Provide Solutions To Those Who Are Facing The Following Challenges
• Credit Card Outstanding Loans
• Bank Loans
• Licensed Money Lender Loans
• Hire Purchase Loans
• Any Other Unsecured Loans
• Lawyer Letters & Legalities From Banks
• Harassment From Creditors
• Outstanding Telco, Hospital and Utilities Bills
• Student or Study Loans
• Company Bonds
• Outstanding to Contractors or Suppliers
• Co-op Loans
“EroDebt saved my life. I managed to save over 74% ($70.5k) which I could better spend on my child’s education and health expenses.”
*name changed to protect privacy
4 Steps To Be Debt Free
You Too Can Be Debt Free With
Our Proven Solutions
We have the solution, now it's time for you to take action.