What is DRS?
What is Debt Repayment Scheme? Debt Repayment Scheme (DRS) is a scheme administered by the Official Assignee, who is also in charge of bankruptcy cases. It’s an alternative for
Debt Repayment Scheme
Debt Repayment Scheme is a debt consolidation plan administered by Ministry of Law in 2009. It is designed to help Singaporeans get out of debts to avoid bankruptcy, along with its social stigma and restrictions. Under this scheme, you can consolidate all your unsecured personal debts with a monthly repayment plan according to your affordability level and be debt-free in less than 5 years.
Stop Accumulating Interests
Do you know credit cards have 25% p.a. interest rates? Stop paying these exorbitantly high interests. Consolidate your debts and pay off at very low to no interest.*
Debt Relief
Most of our applicants are approved for a debt relief of 30% to 70% depending on court’s approval. Your income and expenses would be taken into consideration.
Lower Monthly Repayments
Your proposed monthly repayment will be lowered and set within your payment capacity, after setting aside expenses for you and your family.
Protection from creditors' harassment
Tired of spam calls, letters and even creditors visiting your homes? This scheme will protect you and deter this harassment from continuing.
Successful Applications
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Congratulations to our recent successful applicants on achieving up to 77% in debt relief!
Find out how we achieved this in a detailed analysis of our case study.
Blog
The Debt Traps
#1 Making minimum payments Do you find yourself making minimum payments to your credit card debts every month but the total debt size is not decreasing? Well, this is