Should I approach debt settlement companies to make my mom's debt repayment easier? - Seedly

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Asked by Anonymous

Asked 2w ago

Should I approach debt settlement companies to make my mom's debt repayment easier?

I just started work and trying to clear my mum's loan (from HL finance) of more than $50k (borrowed to finance her HDB flat purchase) when I saw online that there are companies offering debt repayment schemes. Should I arrange an appointment with them or continue to payment to HL finance as per normal? And are there any downsides to joining a debt repayment scheme?

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Usually the debt consolidation scheme are for very serious cases of debts. But you can give it a try at the various banks and see if the interest rates are lower.

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