Debt Management Programme Singapore

Credit Counselling Singapore (CCS) facilitates debt repayment arrangements on behalf of suitable debt-distressed borrowers to enable them to repay unsecured debts to their creditors in full.

A Debt Management Programme (DMP) is a formal consumer debt restructuring agreement facilitated by CCS with major consumer banks and credit card issuers in Singapore, represented by The Association of Banks in Singapore (ABS). Find out more. 

Since April 2020, CCS also has a debt restructuring agreement with licensed moneylenders represented by the Credit Association of Singapore (CAS), known as the Moneylender Debt Management Programme (MDMP). Only individuals with bank and/or credit card debts may be considered for MDMP, subject to assessment of payment capacity. Find out more. 

Being on DMP (bank DMP and moneylender DMP will be referred collectively as DMP) is voluntary and subject to the payment capacity of the individual, as assessed by the Financial Counsellor. Individuals who have been assessed suitable after attending credit counselling, CCS Case Administrators will prepare a DMP Proposal and Repayment Schedule on their behalf, to be submitted to creditors for approval.

The approval of DMPs as well as the specific terms and conditions of the agreement are at the sole discretion of creditors. CCS will subsequently inform individuals on the outcome of their creditors’ decision.

When successfully placed on a DMP, the individual may be granted an extended period and/or charged a moderated interest rate, to repay the remaining and outstanding balances of all unsecured loan accounts, credit card and credit line accounts. The individual makes monthly instalments to each creditor directly, until full settlement has been achieved.

CCS role is to facilitate a comprehensive repayment arrangement to all creditors, on behalf of suitably assessed individuals. Being on a DMP offers the distressed individual debt relief by allowing payments in affordable monthly instalments that are within his/her payment capacity.

To find out more about how you can pay down unsecured debts through a debt repayment arrangement under our Debt Management Programmes, attend our Debt Management webinar or take our Online Debt Management Course.