01 August 2014

Credit Counselling Singapore (CCS) Can Help

Today I read about this story where a 33 year old man paid about $70,000 in interest to a licensed moneylender over two years based on a principal loan amount of $20,000 and every month he is paying $4000 which is 88% of his salary, so as you can see his salary is actually very high, but unfortunately he got himself into such a situation because he did not control his spending.

Initially he only owed banks money via his credit cards but due to pressure from the banks to take him to court if he was unable to pay, and out of fear that he might lose his job if his financial situation was made known to his employer, he turned to licensed moneylender. That was a very bad move, and also because he was not aware that CCS can help him, so here I want everyone to know, CCS can help you if you are in debt, I also don't think it is limited to credit card debts only as what you might see in online forums, no harm checking it out, no matter what it is still better than approaching licensed moneylenders, their interest rates are ridiculous, more like daylight robbery.

But in the end you still have to know how to manage your finances, or else it doesn't matter how much you earn, in the end it will come to nothing.

Credit Counselling Singapore

2 comments:

Theexpat Counsellors said...

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Counselling Singapore

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