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Debt consolidation plan launched to help stretched borrowers
A financial institution can buy over all unsecured debt of a customer, and then work out repayment plan
Published Tue, Jan 17, 2017 · 09:50 PM
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Singapore
SOME 14,000 stretched borrowers here will have another way to cut their debt burden before tougher regulations kick in this year.
A new debt consolidation plan has been launched that will have eligible customers consolidate their existing unsecured credit balances across financial institutions with just one participating financial institution.
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