Monday, December 29, 2008

Help for those in Debts

With the bad economy downturn lately, the reports on newspapers and other media had reported that more and more people are using their credit cards for big ticket items by paying in intalments. I guess when one does that, the larger amount when divided by a year or two or even more is a smaller amount but this way of payment can be addictive. A report also shown that for one who didn't realize how much he is paying in total, ended up signing up for several items on instalments and chalked up a debt of S$110,000 and got himself in a spot when he cannot pay up his monthly payments.

What is Credit Counselling SingaporeCredit Counselling Singapore is a body that can help you if you are in trouble with your debts. This is for those who are residing in Singapore. They were set up because of rising problems of credit debts. It started being registered as a Charity in 2003, then officially registered as a society with full time staff in March 2004. With their successful programmes in managing debts, under a Debt Management Programme, CCS was finally officially launched to the public in 2004. Since June 2005, it is now a memeber of a National Council of Social Service.

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