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Not In Debtors' Interest

June 15, 2025

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The Straits Times

Debt consultancy firms are not regulated. They are profit-making organisations, and may not be thinking about the best interests of debtors.

- MS TAN HUEY MIN, general manager at Credit Counselling Singapore, who said the non-profit organisation has seen a number of debtors burned by exploitative debt consultancy firms.

The Debt Repayment Scheme is meant for genuine debtors who are sincere but unable to make payments under their creditors' existing terms and conditions.

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