To be eligible for debt consolidation, individuals in Singapore typically need to meet the following criteria: Age:
You must be at least 21 years old and not exceeding the maximum age set by the financial institution. Citizenship/Residency:
Debt consolidation is typically available to Singapore citizens, permanent residents, and foreigners with a valid work permit. Minimum Income Requirement:
Lenders usually have a minimum income requirement to ensure that borrowers have the means to repay the consolidated loan. The specific income threshold may vary among financial institutions. Outstanding Debts:
To qualify for debt consolidation, you should have existing unsecured debts, such as credit card bills, personal loans, or outstanding balances with various lenders.