More in Singapore finding it hard to pay credit card debt
Latest figures come on back of tougher rules on credit
More people are now struggling to pay off their credit card bills, new figures show, as if underlining the need for the tough new rules governing credit card debt.
Data released by the Credit Bureau Singapore (CBS) yesterday also show that as well as falling behind on payments, they are now owing more.
As of July, there were 62,830 unsecured credit customers who had not made a minimum payment in two months - a striking 12.7 per cent more than the 55,726 people in that category last year.
Unsecured credit includes credit cards, overdrafts and personal loans that are not backed by collateral.