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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

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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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