Credit card debt affect EP renewal?


I have been living in Singapore for 6 years and got 3 credit cards.

In mid of 2017 there was a crisis back home and I was the lonely bread winner and took around 10 k loans in each card( total 30 k) to help my family. Payment was going well till 2018 and in June 2018 my company was shut down and I got job again couple of months back and my pay was less and I was unable to do the payment properly 😔

Fast forward I got debt notice in all three banks and my EP is currently in renewal. Scared to death whether my application will be rejected.

Any suggestions?

This will only influence your EP when the debtors have taken legal action against you.
If you are still in negotiation with the banks, or have mutually agreed on a solution (e.g. payment in installments), you are relatively safe.
But please learn from this situation: It is NOT a good idea to spend (or give away) money you don't have!

What if legal action was taken? One of the bank send me legal notice. Yes true lesson learned in a hard way!

If legal action was taken, MoM will know about and consider it during the approval process.

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