twice as many applications for personal loans this year compared to the previous year.turned to credit companies for big-ticket items like television sets or travel, more are funding everyday essentials with loans.
About four out of 10 clients now say they need help with daily expenses, twice the number previously, he added. Creditors typically look at businesses’ records from the past two years, the same period that firms may have been hit by losses due to the pandemic, he noted. “Therefore, these individuals would end up having to take up personal loans, which rely on slightly easier track record such as their individual income, and their personal credit score," Mr Lam explained.
Many people are in dire situations. Common folks are suffering while the government is focusing on collecting taxes.
They deserved it. Especially those who vote fanatically.
Expected….measuring defaults on housing loan does not mean anything as people can be relying on unsecured personal loans, cash advances from credit cards etc etc to get by…
Start of a recession, people resorting to more borrowing amid high interest rates
Don't forget, people voted for what they get- the strong mandate 👍
新加坡通脹太高了！