How much is his Monthly Repayment Amount?

Let’s take a look at our first case study. Mr Lee successfully applied for this DRS and his repayment plan commenced on 30 September 2021.

Disposable income is the amount of money that an individual has to save or spend after taking into account his expenses and bills.

In this case, Mr Lee’s disposable income is $240 ($1,400 subtract $1,160) and the case officer proposed a monthly repayment amount of $370 which is very close to his disposable income.

How is his Monthly Repayment Amount determined?

Ministry of Law will always propose an amount that is close to your disposable income and within your financial capabilities. They will look at your Income and Expense Statement to determine your disposable income so that you will have enough to support yourself and your family after repaying your debts.

How much is his Debt Relief?

Mr Lee is only required to repay $370 for a repayment period of 57 months. This means his total repayment amount is only $21,090 ($370 times 57 months) for his total debt of $95,814 and his debt relief is 77%.

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