Asked by Anonymous
Asked 2w ago
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?
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.