It is not difficult to understand why debt is the source of major stress and discord in the lives of those immersed in it.
However, all is not lost, because debt consolidation can often provide a valuable solution as long as it is approached wisely.
I was going through some information on the internet and discover this interesting article that I feel it a MUST to share with everyone.
Article was posted on Straitstimes.com website
The latest Credit Counselling Singapore (CCS) statistics, covering 2014 to last year, indicate
- 7 in 10 people under the Debt Management Programme (DMP) are males.
- The 35-44 age band has the highest number, or 40 per cent, of debtors.
- Nearly two-thirds of debtors are Chinese.
- About 84 per cent of those under the DMP earn up to $60,000 a year, with monthly incomes averaging $3,359.
- The average debt size is $100,559.