You are viewing
Debt Restructuring Plan
Dah Sing Bank is committed to helping our customers overcome any financial difficulties they may be experiencing. If you're having difficulties making your repayments, our dedicated Debt Restructured Loan Team can work with you to develop a personalised debt repayment plan that suits your needs and budget.
Support
If you think you might not be able to make your monthly credit card, loan or overdraft repayments, or if you have already missed a payment, please contact us as soon as possible. We are here to discuss your options and help you find a suitable solution based on your financial circumstances.
There are no administration fees for any services provided by our Debt Restructured Loan Team.
How long will the process take?
Our dedicated Debt Restructured Loan Team will aim to provide you with the right solution as quickly as possible. The timeframe will vary depending on the completeness and timeliness of the documents and information you provide, as well as any required coordination with other creditors or institutions. We will move forward promptly and keep you informed of progress every step of the way.
Important Information
Registration with Credit Reference Agencies
It is an industry requirement that the details of any form of debt restructuring have to be registered with the Credit Reference Agencies (CRAs). This may adversely impact your ability to obtain credit both from ourselves and from other credit providers in Hong Kong.
If your account becomes overdue by more than 60 days at any time during the repayment period of the restructured loan, records of your default history will be retained there for a period of 5 years after final settlement. However, if payments are kept up to date it may be possible to remove the record shortly after full and final settlement of the restructured loan.
Closure of all existing unsecured credit facility accounts within Dah Sing Bank
If debt restructuring is the agreed option, all your credit facilities with Dah Sing Bank, such as credit cards, overdrafts and loans will be closed. Any auto-payment services (e.g. insurance, utility bill, Octopus, Payment by Phone, etc.) paid through these accounts will be stopped, and alternative arrangements will need to be made. Any unredeemed credit card bonus point will be forfeited, and the ATM function will also become inactive upon the closing of your credit card accounts.
Contact Us
You can contact us through the following channels:
Phone: (852) 2828 4248 during 9:00 am – 5:45 pm, Monday – Friday
Email: collection_drp@dahsing.com
For more information about the Debt Restructuring Plan and how it can help you to manage your finances, you can read the Consumer Guide* and find useful information in the Financial Health Leaflet*.
*(Source: HKMA websites: Smart Consumers / Personal Credit / Addressing Debt Problems)