1. Q: If I fail to pay back my credit card loans, is applying for bankruptcy the only resort?

A: Not necessarily, most of credit card loans can be handled by making periodical repayments through DRP.


2. Q: Does the applicant for DRP need to notify his / her employer?

A: DRP is only an alternative repayment method involving negotiation with creditors (in this case, bank), even for some sensitive sectors, DRP applicants need not  inform the employer.


3. Q: I own a property. Will the bank accept my application for DRP?

A: Yes, some banks will accept DRP application from property owners without affecting the property.


4. Q: Do you need to apply for DRP through the High Court?

A: No, a law firm can represent the applicant and apply for DRP directly to his / her creditors.


5. Q: Would DRP generate unaffordable interests? What is the difference between DRP and paying back credit card loans right now?

A: DRP separate the existing credit card loans into installments. The debtor will regularly make repayment according to fixed interest rate in fixed number of installments. In general, the annual interest rate of DRP is lower than that of the existing credit card loans.


6. Q: How long does it take to apply for DRP?

A: Generally, banks would need 3-4 weeks to assess your application.