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

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Asked by Anonymous

Asked on 10 Aug 2019

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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Syafiq Samri
Syafiq Samri, Debt Educator at EduDebt Pte Ltd
Level 2. Rookie
Answered on 09 Oct 2019

If you don’t mind, you can drop me a dm on FB and let me advise you of the best possible route for you?

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