Debt Management Programme

What is a Debt Management Programme (DMP)?

A Debt Management Programme (DMP) is a formal debt restructuring agreement facilitated by Credit Counselling Singapore (CCS) with major consumer banks in Singapore to arrange payments of unsecured debts into a comprehensive repayment plan.

When successfully placed on a DMP, the individual may be granted an extended repayment period and charged a moderated interest rate on the remaining balances of all unsecured loan accounts and outstanding balances of credit card and line accounts. The individual then makes monthly instalments to each creditor individually over the duration of the programme. This repayment programme is made available for individuals who are willing and assessed to have the financial capacity to repay the debts owed.

The DMP is a voluntary arrangement between the individual and his/her creditors. The role of CCS is to facilitate the arrangement by preparing a DMP Proposal on behalf of the individual. After a proposal has been prepared, the individual is required to review the proposal documents, confirm the proposed repayment schedule and authorise CCS to submit the proposal to creditors for approval.

The DMP is considered effective only after creditors have accepted and approve the proposal. The approval of DMPs as well as the specific terms and conditions of the agreement is at the sole discretion of individual creditors. CCS will inform the individual via email on the creditors’ decision.

Once on DMP, the individual will be provided with support and guidance on making regular payments, education on managing one’s money and handling contingencies to help individuals complete their DMP successfully.

Upon successfully completing DMP, individuals may attend our DMP Graduates Workshop to find out how to rebuild credit worthiness.


Reporting to Credit Bureau Singapore

When an individual is placed on DMP, this status will be reflected in the individual’s credit report compiled by Credit Bureau Singapore. Please note that this information is NOT considered a public record, as credit reports are only accessible by individuals themselves and financial institutions for the purpose of assessing credit worthiness.

Upon reaching full settlement with all creditors, the DMP status will be removed and the individual is able to gradually rebuild credit worthiness.


General Criteria

The general criteria to be on a DMP are as follows:

1.   The individual has unsecured debts of $10,000 or more;

2.  The individual has unsecured debts owing to multiple creditors;

3.  The individual has been assessed to have sufficient payment capacity to make regular payments to creditors.


Our financial counsellors will work with you to assess your financial capacity and suitability to be on DMP, as well as explore other options to address your problem debts.