Debtors hardest hit during circuit breaker

In March, bankruptcy applications reached 462, the highest in more than 15 years. PHOTO: ST FILE
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SINGAPORE - More debt-stricken individuals struggled to pay off their loans at the start of the pandemic and during the circuit breaker, said debt management companies.

In April, when the circuit breaker kicked in, non-profit organisation Credit Counselling Singapore (CCS) said it saw about 800 existing clients under its debt management programme requesting further assistance as they could not commit to their monthly repayment arrangements with banks.

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