How to clear off a credit card debt

Dear Mr. Tan,

I am desperate to find ways to clear my debt. I need your advice.

I earn a monthly salary, after CPF, of $2,600. After paying my credit cards, loans, tax, insurance, Pub & phone bills, I have only $500 for my expenses. I use my credit card to pay additional expenses and the amount owing keeps increasing due to the interest charges. My total debt has now increased to $34,000.

I am not able to cope. Should I declare bankruptcy or is there a better way to clear my debt?

REPLY

You can get advice from this organisation:

Credit Counselling Singapore
http://www.ccs.org.sg/ccs.html

The can find an adviser who can help you to find a solution to clear your debt.