Personal Debt & Insolvency
A Structured and Manageable Path to Financial Stability
Avoid bankruptcy through professional, court-supervised debt repayment arrangements.
When personal debt accumulates to stressful levels, bankruptcy is not the only option available to individuals in Singapore. For many debtors with a stable, reliable income, a structured repayment plan under official supervision provides a far more constructive and positive path. Our WeCare Debt Management service focuses on helping eligible debtors apply for a formal Debt Repayment Scheme (DRS) or structured voluntary restructuring arrangements, allowing you to pay off your debts over time without the legal restrictions of bankruptcy.
The Debt Repayment Scheme is an administrative, court-supervised programme administered by the Insolvency Office. Under this scheme, your total liabilities are consolidated, and a realistic monthly repayment plan is established over a period of up to 5 years. Once enrolled, creditors are legally barred from taking legal action against you, and interest charges are frozen. WeCare supports you throughout, guiding you through eligibility screening, proposal drafting, and liaison with the administrator.
Why clients choose WeCare for this
Direct representation assistance, advocating for a realistic plan that protects your basic living standards.
Protection of your professional status, allowing you to continue employment and business activities normally.
A single, organized, interest-frozen monthly payment that replaces chaotic multi-creditor obligations.
Who this is for
If none of these sound like your situation, say so — a different route probably fits better.
For employed individuals who have a consistent monthly income but are struggling to meet the high interest rates and minimum payments of multiple bank loans.
How it works
Four stages, from first conversation to resolution.
We evaluate your total liabilities and income stability against the statutory criteria for the Debt Repayment Scheme.
We compile your income statements and monthly expenses to construct a realistic, sustainable 5-year repayment budget.
We assist in submitting the proposal to the Insolvency Office during the bankruptcy referral process and represent your interests with the administrator.
Once approved, we help you set up the consolidated monthly payment structure and establish habits to maintain compliance throughout the term.
Is your case simple or complex?
Based on objective facts about your situation, not on what you are charged. Read both and see which describes you.
Straightforward
Debtors with stable, predictable salaried income, straightforward liabilities under the statutory cap, and cooperative creditors.
Needs closer handling
Debtors with highly fluctuating or self-employed income, multiple uncooperative creditors, or complex personal debts that require detailed restructuring terms.
Do you need a lawyer?
No — legal representation is not required. The Debt Repayment Scheme is primarily an administrative, out-of-court process managed under the Insolvency Office. You do not require formal legal counsel. WeCare provides all the documentation, financial modeling, and administrative support to secure a successful outcome.
Questions people ask us
If you are drowning in debt but desperately want to avoid the stigma of bankruptcy, the Debt Repayment Scheme (DRS) offers a highly dignified, pre-insolvency lifeline. Under the IRDA, the DRS is an official, court-referred program administered by the Insolvency Office. To qualify, your total unsecured debts must not exceed S$150,000, you must be gainfully employed, and you must not have been a bankrupt in the last 5 years. WeCare reviews your financial statements with deep empathy and zero judgment, ensuring we accurately evaluate whether you fit this statutory window before any steps are taken.
It is natural to want to choose your own path to financial recovery, but the DRS is legally structured as a court-referred program. Under Section 290 of the IRDA, you cannot apply directly to the Insolvency Office for DRS. Instead, a bankruptcy application must first be filed (either by you or a creditor). The High Court will then refer your case to the Official Assignee to assess your eligibility for DRS. WeCare guides you through this multi-stage judicial pathway, providing warm reassurance and precise documentation so that the court sees you are a cooperative, ideal candidate for restructuring.
Life is unpredictable, and we understand the terror of worrying about a missed payment due to an emergency. Under Section 291 of the IRDA, if you fail to comply with the terms of your DRS (such as missing monthly payments), the OA may formally terminate the scheme. Once terminated, your creditors are legally released to pursue standard legal actions, including reviving bankruptcy proceedings. If you encounter financial difficulties mid-scheme, WeCare is here to help you draft urgent, proactive representations to the OA to request a variation of your repayment plan, protecting you from sudden disruptions.
Take the first step
A free, confidential assessment of where you stand — no obligation, and no judgement. We will tell you honestly if this is not the right route for you.
Important: WeCare Consultancy Pte. Ltd. is a consultancy and is not a law firm. The information on this page describes Singapore statutory processes in general terms and is not legal advice, nor a determination of your eligibility for any scheme. Where a matter requires legal representation, we will say so and help you engage an appropriately qualified professional. Statutory references and monetary thresholds are current as at August 2026 and may change. Please speak to us about your own circumstances before acting on anything here.