08 Apr '15, 1am

#TheInterview DVDs balloon-launched into North Korea by South Korean activist

#TheInterview DVDs balloon-launched into North Korea by South Korean activist

A TERTIARY education, average or even above-average income but crushing credit card or other unsecured debt of at least two years' worth of annual pay. That is the typical profile of an estimated 32,000 people in Singapore who are affected by new rules on unsecured debt - that is, debt with no collateral. The rules will be phased in over the next four years rather than implemented all at once, the Monetary Authority of Singapore (MAS) announced on Monday. But from June 1 this year, these most heavily indebted of borrowers will be prevented from adding to their loan burden. Data compiled by financial institutions and the Credit Bureau Singapore show that as of February, 32,000 borrowers had total interest-charging unsecured debts above 24 times their monthly incomes. Most of these heavily indebted borrowers have tertiary education qualifications - a diploma or higher - with...

Full article: http://www.straitstimes.com/news/business/more-business-s...

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