Our Debt-Free Stories
These are a few of the many real cases that we have handled and got them out of the debt cycle.
If these cases resonates with your situation at the moment, we highly recommend you to get in touch with us.
Remember, the choice is in your hands, break free while you still have time.
01
More than $90,000 liabilities
Mr Adrian (not his real name) was scrolling along on Facebook and came to us when he saw our Facebook post. He was curious on what the DRS program is all about as he was not aware of the existence of the program prior coming across our post. Little did he know, this encounter was the turning point of his life.
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Mr Adrian had actually accumulated a debt of up to SGD 90k. He was paying a monthly figure of around SGD 2k which was about half of his salary. Upon knowing that DRS could actually lower his monthly repayment amount, he decided to onboard the program in a bid to clear his debt within 5 years.
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Thankfully, with the DRS program, despite our initial estimation for the repayment amount to be around SGD 1.3k per month, Ministry of Law actually assessed and determined that his monthly repayment will be reduced to SGD 800 instead.
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02
Keep on Paying but It Never Ends
Mr Jamal (Not his real name) came to us after he felt that he could not get out of his debt despite paying regularly. What, he did not realise was, he was only paying the minimum payment amount for his credit cards. This leads to the accumulation of interest and this was where the liabilities does not get reduced despite his regular payments.
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As his liabilities was increasing due to the multiple loans and credit cards he has on his hands, we took the decision to recommend him the DRS program so that he can put an end to his debts. At the point of application, his total liabilities was around $50,000. This brings to an estimated amount of $917 for his monthly repayment.
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As his income was high and he had no dependents, he did not manage to get a big discount for his monthly repayment from the OA but at least, he is paying 1/3 of what he is supposed to be paying monthly for his liabilities.
03
A New House with Debt
Ms Sally has just gotten the keys to her new house together with her husband. She took a Renovation Loan of $50K, a personal loan of $30k and incurred a total of $20k in appliances and furniture. Due to all this, she is paying $3k per month for her liabilities.
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It was okay at the beginning but as the months goes by, it proves to be a challenge to keep up with the monthly payment and she was starting to miss her payment.
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At wits end, she came across NLC and enquired on whether there is anyway for her debt to be managed. We introduced her the DRS scheme and the result was much lesser than expected. From $3k per month, she ended up paying $500 per month. The smile on her face was priceless.
04
Sometimes, its just beyond us.
Ms Preeti was the sole breadwinner for her family. All was still working fine until the day her father fell critically ill. The circumstances pushed her to take loans with licenced moneylenders and also she had to maximise her credit card with the hospital bills.
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All in all, her total liabilities was hitting half of $100k which was requiring her to pay $1.8k per month. As this amount was 3/4 of her salary, she was looking for a solution to improve her current situation.
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Upon coming across our ad, we offered her the DRS scheme. Initially she was reluctant to go for it as the fees was quite steep but she eventually decide to proceed. It ended up with her paying $350 per month. What a huge difference!
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Singapore (208830)
Phone
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