How to repay - and avoid being in - debt
Sign up now: Get ST's newsletters delivered to your inbox
Be brutally honest with yourself, says OCBC's head of wealth management Tan Siew Lee.
If your debts are mounting, asking banks for another quick loan is not going to make the problem go away. Indeed, doing so can put you deeper in the red.
"If you are unable to repay your debt, be upfront with your bank to see if you can work out a more manageable repayment plan," says Ms Tan Siew Lee, OCBC's head of wealth management.