Time for highly leveraged consumers to take stock
By next June, some 40,000 S'poreans who borrowed more than a year's income through unsecured loans for 3 straight months, will have their credit lines cut
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Singapore
SINGAPORE'S highly leveraged consumers will have some soul-searching to do this Christmas, as business restructuring starts to bite.
By June next year, an estimated 40,000 Singaporeans who borrowed more than a year's income through unsecured loans for three straight months, will have their credit lines cut, until they reduce their debt. Most delinquent borrowers will also get the same treatment.
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