Have you applied for debt consolidation with a bank in Singapore, only to be rejected?
You are not alone. Many borrowers facing financial stress are turned away by banks — even when they desperately need help managing multiple debts.
But here’s the good news:
👉 You can still apply for a debt consolidation loan even if you’ve been rejected by a bank.
At Trillion Credit, a professional licensed moneylender in Singapore, we specialise in helping individuals who’ve been turned away by banks — offering real solutions with real flexibility.
❌ Why Do Banks Reject Debt Consolidation Plan Applications?
Banks in Singapore have strict eligibility criteria for debt consolidation plans. You may be rejected due to:
- Low Annual Income
Most banks require:
Singaporeans/PRs to earn $30,000 to $120,000 annually
Foreigners to earn above $40,000 annually
If you fall below this income range, you may not qualify.
- Poor Credit Score
Banks typically only approve applicants with good credit history. Missed payments, defaults, or high credit utilisation can result in an automatic rejection. - Not Meeting the 12x Debt Threshold
To qualify for a bank-offered Debt Consolidation Plan (DCP), your unsecured debt must exceed 12 times your monthly income. If you owe less, you’re considered “ineligible” for consolidation — even if you’re struggling. - Employment Type
Freelancers, self-employed individuals, or those on contract work are often declined due to inconsistent income documentation.
✅ What Are My Options If the Bank Rejects Me?
You still have options. Licensed moneylenders offer alternative debt consolidation loans that are more accessible, even if you’ve been rejected by a bank.
At Trillion Credit, we assess your application based on:
- Your current repayment ability
- Your net income, not just gross salary
- Your overall debt level and financial situation
- We understand that one rejection doesn’t mean you’re beyond help — and we’re here to find a solution.
🧾 How Does Debt Consolidation with a Licensed Moneylender Work?
Instead of trying to manage multiple debts from licensed moneylenders, you can combine everything into one loan with a licensed moneylender — often with a customised monthly repayment plan.
Here’s what you get:
✔️ One fixed monthly payment
✔️ Flexible repayment period
✔️ Reduced risk of late payment penalties
✔️ Improved credit standing over time
📋 What Do I Need to Apply?
Even if a bank has rejected you, you can apply with us by preparing:
Proof of Identity – NRIC / Work Pass
Proof of Income – Latest payslips (last 1-3 months), CPF Contribution Statement, Income Tax Notice of Assessment
Proof of Address – utility bill, tenancy agreement, etc. (only applicable for Foreigners)
Outstanding debt details – Loan statements from banks or licensed moneylenders, CBS Report, MLCB Report
💡 Tip: Don’t wait for another missed payment — apply early for better terms.
🤝 Why Choose Trillion Credit?
We’ve helped hundreds of clients who were previously rejected by banks. Here’s why borrowers trust us:
✔️ Licensed by the Ministry of Law, Singapore
✔️ No hard credit check needed for initial assessment
✔️ Bad credit borrowers welcome
✔️ Fast approval and flexible repayment terms
✔️ Compassionate, judgment-free consultation
📞 Don’t Let One Rejection Stop You — Speak to Us Today
If a bank has declined your debt consolidation loan, don’t give up.
We’ll assess your case and offer a solution that fits your income, lifestyle, and obligations.
📱 Call us at 65090111
📝 Or apply now at https://trillioncredit.com.sg/apply-for-loan/
