As these families have less disposable income and savings, they are more susceptible to falling into debt or arrears when faced with unexpected events like retrenchment or health issues.
Even a relatively small debt can have a severe impact on lower-income families financially, psychologically and emotionally, the ministry said.
To help these families, MSF will work with donors to fully fund a progress package that matches families repayments to their creditors, up to S$5,000 in debt.
This package, which can only be used once, applies to verifiable debt. This is debt owed to licensed companies and organisations that can be verified and for which repayments can be tracked, MSF said. Examples include utility bill arrears, hospital bills or…
Read the full article at: https://www.channelnewsasia.com/singapore/comlink-lower-income-family-rental-flat-msf-financial-aid-3926521