Credit & Loan

Newbie’s Guide To Singapore’s Credit Bureau

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The Credit Bureau (Singapore) is a principal credit consumer agency, which has the most comprehensive industry uploads originating from all the major financial institutions and retail banks. Credit Bureau (CB) is a joint venture between the “Infocredit Holdings Pte Ltd.” and “The Association of Banks in Singapore”. The Monetary Authority of Singapore’s (MAS) vision to improve the public’s risk management capabilities is in lined with the holistic embodiment of CB. How is this so? The Banking Act allowed the members

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Credit & Loan

The Perils of Short-Term Business Loans

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It’s almost inevitable that life will have the occasional financial pinch. Having to meet financial deadlines is not just reserved to everyday life bills. Many times business owners, especially small business owners, are faced with the pressure of meeting deadlines for vendor invoices, inventory and payroll. When faced with tight financial situations, some business owners consider short term loans as a way to keep the ship afloat. That being said, these loans come with their own unique risk profile that

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Credit & Loan

Mind-Blowing Facts About Debt

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FACT #1: SINGAPORE’S DEBT-TO-GDP RATIO RANKS THIRD IN THE WORLD With a Debt-to-GDP ratio of 382%, Singapore ranks third in the world according to a 2015 report published by McKinsey Global Institute. The global report found out that Japan lead with 400% followed by Ireland and Singapore. This significant percentage includes the total debt of the government, households, and non-financial corporations. It comes no surprise that a large part of the country’s debt hails from the corporate sector. FACT #2:

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Credit & Loan

How To Conquer A Mountain Of Debts

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Hiking up successfully to a mountain of debts is a difficult task to anyone but, it is doable. All you need to get started is the application of money management skills. The first step is to take a hard look at your cash flow. It is important to track where your money is going through observing the previous months’ bank statements and receipts. If an expense category is not necessary then, reduce or eliminate it from your budget. This includes

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Credit & Loan

Do’s And Don’ts When Loaning Your Money To Family And Friends

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Family gatherings and friendly reunions can be less awkward if you follow these tips: DO FIGURE OUT THE WEIGHT OF REPAYMENTS A friend or a family member asked for financial help from you instead of loaning from a credible financial institution. Before anything else, you must ask yourself about how important it is for a person to repay you. Are prompt payments necessary or will intermittent payments work? Keep in mind that if an individual approaches you, it is typically

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