You may be eligible for the Debt Repayment Scheme (DRS) if you owe unsecured debts (such as credit cards, personal loans, or car loans), in Singapore and have a regular source of income. Eligibility also depends on your income, expenses, and repayment history. We offer a free assessment to check your eligibility before you commit to anything.
DRS is an out-of-court arrangement that lets eligible debtors repay what they owe over an agreed period (up to 5 years) without being made bankrupt. Bankruptcy is a formal legal status with more serious and long-lasting consequences, including restrictions on travel, employment, and asset ownership. DRS is generally only available to debtors who meet specific eligibility criteria; those who don’t qualify may still need to consider bankruptcy.
No. As long as you have Debts in Singapore you are eligible.
Open to:
-Singaporeans
-Permanent Residents
-Employment Pass Holders
-Work Permit Holders
If you’re self-employed:
(e.g. a sole proprietor), you’ll generally need to close your business first and show around 6 months of regular income for example, gig income such as GrabFood or Foodpanda deliveries before applying, and your expenses must be lower than your income or the application will be rejected.
If you’re currently unemployed:
you’ll need a stable source of income before DRS can be considered.
Minimum $15,000
Maximum $150,000
You can still reach out to us and we will guide you on the appropriate next steps to take.
Nothing. Your first consultation and eligibility assessment with us is completely free.
Our fee is a flat $999 SGD, with no sales agent commission and no hidden charges, (Govt fees excluded) We are proud to mention that we charge the lowest fee in Singapore.
We run a lean team, a boutique office and keep our overheads low, so we can pass those savings to the people who need them most.
No. Our advisory fee is fixed and disclosed upfront. The only additional costs are the statutory government fees required to file your case which goes directly to the relevant authorities.
No. Our initial assessment is free, and you only proceed to pay our advisory fee once we’ve confirmed you’re eligible and you decide to move forward.
Yes we do but on a case-by-case basis.
Timelines vary on case by case, but the process generally involves an initial consultation, document preparation and multiple datelines preparation.
Fastest: 1-2 months.
Longest: 4-5 Months.
After you reach out, we’ll send you a short Form to gather some basic details, followed by a free discovery call and, if you’re found suitable, an in-person consultation to go through your situation in full before proposing next steps.
An in-person consultation is part of our standard process so we can properly review your documents and situation, though initial discussions can start over WhatsApp or a call.
You must bring for your consultation:
-identification documents
–MLCB report ($0.50+ SGD)
–CBS report ($8.72 SGD)
-proof of income
-List of your outstanding debts and creditors.
-Legal Letters (if any)
If you find difficulty in obtaining these documents, let us guide you through the complete checklist during your in person consultation.
Being on DRS is generally less disruptive to your employment than bankruptcy, though certain professions with licensing or fit-and-proper requirements may have their own rules.
For Singapore Citizens, CPF savings and your HDB flat are fully protected under DRS.
Permanent Residents are subject to different rules, we’ll go through what applies to your specific status during your consultation.
Once you’re accepted into DRS, creditors covered under the scheme are generally required to stop separate recovery action against you and work through the arranged repayment plan instead.
DRS relates to your personal debts, and family members are not personally liable for your debts unless they are joint borrowers, guarantors, or co-signed the loan with you.
Yes. Whatever information you share with us remain 100% Confidential.
It’s still worth reaching out as soon as possible, the sooner we can review your situation, the more options may still be available to you.
Let us know about any legal letters or missed payments during your free assessment so we can advise on next steps quickly.
Being on DRS will be reflected on your credit bureau report and will affect your credit score while you’re on the scheme.
While you’re on the scheme (typically 3–5 years), you’re not meant to take on new credit. Above a certain amount you’re legally required to declare that you’re under the Debt Repayment Scheme before borrowing, and failing to declare it is an offence.
Once you complete the scheme, your remaining unsecured debts are discharged and you’re released from the scheme. You can apply for credit again from that point, but approval is always at the lender’s discretion.
Disclaimer: Debt Clear is a debt advisory service, not a bank or licensed moneylender. We do not provide loans. Information here is general in nature and is not legal advice. Outcomes depend on your individual financial situation.
