Managing financial challenges can be overwhelming, especially when debts start to pile up. This is where credit counseling services come in to offer professional guidance and structured solutions tailored to your financial situation. Singapore has a range of options to help individuals regain control over their finances and make informed decisions. In this guide, we’ll explore the 4 best credit counseling services in Singapore, highlighting essential factors to consider and what these services typically offer.
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Number of companies
719
Verified reviews
4,80
Average rating
1. Edudebt Pte. Ltd
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4,9/5
1 Yishun Industrial Street 1, #08-19 A Posh BizHub, 768160, Singapore
- Credit counseling service
- Consultant
- Corporate office
Why we chose them
EDUdebt Pte. Ltd. is the largest and leading debt consultancy firm in Singapore, dedicated to providing smarter debt management solutions. Since 2016, the company has empowered individuals and businesses by offering comprehensive credit counseling services and personalized debt consolidation plans. Their approach includes freezing interest rates, restructuring repayment schemes, and lowering monthly payments based on clients’ affordability, ensuring a guaranteed path to becoming debt-free within five years. With a focus on efficiency and confidentiality, the company has transformed countless lives by helping clients regain financial stability and peace of mind.
What sets this organization apart is its commitment to educating the community about their rights and options when dealing with debt. Their services cater to a variety of financial challenges, including outstanding credit card balances, personal loans, bills, and more. With a passionate team and a proven track record, they offer complimentary consultations and tailored solutions to clients from all walks of life. By delivering a message of hope and practical tools for financial recovery, they continue to make a meaningful impact in the industry and the lives of those they serve.
2. Debt Aid Pte. Ltd
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5,0/5
1 N Bridge Rd, #02-39 High Street Centre, 179094, Singapore
- Credit counseling service
- Consultant
Why we chose them
Debt Aid stands out as a trusted debt consultancy agency in Singapore, specializing in personalized credit counseling services. Established in 2018, the company has successfully resolved over 1,200 debt cases, helping clients save more than S$15 million through interest reductions and tailored repayment plans. With a privacy-first approach, it offers confidential, one-on-one consultations to address financial challenges, including debt consolidation and repayment schemes, ensuring solutions are customized to each individual’s needs. Their experienced consultants guide clients every step of the way, empowering them to rebuild their financial health with confidence.
Known for its empathetic and professional service, the company has built a reputation for delivering same-day solutions that alleviate financial stress. By consolidating unsecured debts into manageable repayment plans, it assists clients in reducing monthly payments and freezing interest fees, fostering a path to financial freedom. Testimonials from satisfied clients highlight the smooth and supportive process, making the company a lifeline for those seeking to escape the debt trap. Their commitment to safeguarding personal information and providing actionable financial strategies makes them a preferred choice for individuals navigating complex debt situations.
3. Transview Debt Consultancy Services
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5,0/5
109 North Bridge Rd, Funan It Mall, 179097, Singapore
- Credit counseling service
- Consultant
Why we chose them
Transview Debt Consultancy Services – Debt & Bankruptcy Consultant has been a trusted leader in debt consultancy in Singapore since 2003. Renowned for its commitment to helping individuals navigate challenging financial situations, the company specializes in resolving debt issues and assisting clients in regaining control of their lives. Unlike other firms, Transview provides comprehensive support throughout the bankruptcy process, ensuring clients receive guidance and assistance until their discharge. Their services include credit counseling and personalized debt repayment plans, offering solutions that consolidate unsecured debts and allow repayment over a manageable period of up to five years. With a strong reputation built on genuine care and effective results, Transview is widely recommended by satisfied clients, with referrals accounting for half of their business.
The company stands out as the only consultancy in Singapore that offers dedicated post-bankruptcy support, helping individuals transition smoothly out of financial distress. For those facing insurmountable debts, Transview assists with bankruptcy filing and ensures protection from creditors within weeks of filing. Their personalized approach and proven track record have established them as a trusted partner for those seeking to resolve financial and legal challenges. With a focus on integrity and customer satisfaction, Transview continues to be a leading name in debt consultancy, offering hope and solutions to clients in need.
4. Credit Counselling Singapore
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4,3/5
51, #07-06 Cuppage Rd, 229469, Singapore
- Credit counseling service
Why we chose them
Credit Counselling Singapore is a trusted, non-profit social service agency dedicated to helping individuals in Singapore navigate the challenges of unsecured debt. Recognized by The Association of Banks in Singapore, this organization has supported over 28,000 individuals since 2004, providing expert guidance through credit counselling, financial education, and debt restructuring. Their comprehensive approach empowers individuals with money management skills and tailored solutions, including Debt Management Programmes (DMP) and support for those facing bankruptcy. By offering free public talks, webinars, and online courses, they ensure accessible resources for anyone seeking financial stability.
Known for its commitment to restoring peace of mind, the agency focuses on consumer and business debt management, helping sole proprietors, partnerships, and enterprises find suitable repayment arrangements. Their step-by-step process includes educating clients on debt settlement options, facilitating counselling sessions, and providing actionable plans to regain financial health. Testimonials from past clients highlight the transformative impact of their services, making them a reliable choice for individuals and businesses struggling with debt-related challenges.
Frequently asked questions
What services do credit counseling professionals in Singapore typically offer?
Credit counseling professionals in Singapore provide services such as financial health assessments, personalized debt repayment plans, negotiation with creditors to restructure loans, advice on budgeting and financial management, support for bankruptcy-related issues, and educational programs to improve financial literacy.
How much does credit counseling typically cost in Singapore?
Credit counseling services in Singapore usually range between €35 and €330 for initial consultations, depending on the complexity of the services provided. Additional fees may apply for ongoing support or specialized programs.
How long does the credit counseling process take to see results?
The timeline varies depending on individual circumstances and the complexity of the debt situation. Some clients may see progress within a few weeks, while others might require several months or longer to achieve their financial goals.
What should I consider when choosing a credit counseling service in Singapore?
Key factors include the service's reputation, expertise in handling similar financial situations, transparency about fees and processes, confidentiality policies, and affordability. It’s also important to check for accreditation or professional certifications where applicable.
Can credit counseling help me avoid bankruptcy in Singapore?
Yes, credit counseling can provide tailored solutions to help you manage debts, negotiate with creditors, and improve financial habits, potentially preventing the need for bankruptcy. Counselors may also guide you through legal financial options if bankruptcy is unavoidable.
Is credit counseling confidential in Singapore?
Yes, credit counseling sessions are typically confidential. Professionals adhere to strict privacy policies to ensure your financial information and personal details are protected during consultations and throughout the counseling process.
How do credit counselors negotiate with creditors on my behalf?
Credit counselors communicate directly with your creditors to propose debt restructuring options, such as reduced interest rates, extended repayment periods, or settlement agreements. They use their expertise to find solutions that benefit both you and the creditor.
Can I access credit counseling services if I have a low income or minimal savings?
Yes, many credit counseling services offer sliding-scale fees or reduced rates for individuals with low income. Some organizations may also provide free initial consultations or resources to help you get started without upfront financial strain.
