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Free, strictly confidential. Singapore insolvency & Debt Repayment Scheme advisory. No judgment, ever.
WeCare Consultancy Pte Ltd

Pre-Bankruptcy Solution

The Debt Repayment Scheme (DRS)

A court-supervised alternative to bankruptcy for unsecured debts under S$150,000, letting you keep your job, your directorships and your freedom to travel.

Singapore's Marina Bay waterfront at dusk.

The Debt Repayment Scheme (DRS) is an initiative introduced by the Ministry of Law to assist individuals in managing their unsecured debts, acting as a highly preferable alternative to bankruptcy. Administered by the Official Assignee (OA), the DRS allows you to consolidate your debts and repay them over a fixed period without the harsh restrictions associated with formal bankruptcy.

Who is eligible for the DRS?

Not everyone qualifies for the DRS. The scheme has strict statutory requirements under the Insolvency, Restructuring and Dissolution Act (IRDA). To be considered, you must meet the following criteria:

  • Your total unsecured liabilities must not exceed S$150,000.
  • You must be gainfully employed and earning a regular income.
  • You have not been a bankrupt, or been on the DRS, in the past 5 years.
  • You cannot be a sole proprietor or a partner in a firm.

How WeCare helps: Entering the DRS is not automatic. A bankruptcy application must actually be filed first, after which the court will refer you to the OA to assess your DRS eligibility. WeCare consultants meticulously evaluate your financial position before any filing, ensuring that you meet all criteria — so you avoid the scenario where a DRS application is rejected and you are inadvertently made bankrupt.