DRP Debt Relief

Debt Relief Program (DRP) is one of the major debt relief programs.

This is a simpler version of an individual voluntary arrangement (IVA), as applicants do not have to follow legal procedures.
With the consent of the debtor, the creditor institutions directly formulate a new repayment mechanism with the creditors, including the amount of repayment, the interest rate, terms of installment and repayment methods.
In some cases, when the creditors are numerous but the payback amounts are relatively small, then, the DRP debt relief programs should be the first choice for debtors.
With the consent of certain creditors, the interest rate can be reached to 0%, a substantial reduction of more than 90%.

DRP Debt Relief Services:

The Debt Relief Plan (DRP) is a simple debt restructuring solution, UnionUs will, after an independent analysis of your case by our experienced CPA/lawyer, restore your financial freedom with a high level of transparency of the expenses.
DRP is a relatively fast, feasible and simple solution that requires no legal process. Our specialists will design a repayment schedule based on your financial situation and coordinate it directly with your creditors.

The processing time required is relatively short and applicants only need to complete a simple registration process.

It is more suitable for those in sensitive industries (such as finance and the disciplined services). By applying for DRP relief, applicants can avoid bankruptcy.

At the same time, through the application for a debt relief via UnionUs, you can avoid filing your employer’s debt claims and avoid losing your job or damaging your reputation.

The Advantages of Debt Relief Program (DRP)

．Avoid bankruptcy
By adopting a debt relief plan, the applicant can avoid bankruptcy as well as the impact on his or her personal reputation and family.

．Reduce interest on debt
In debt relief programs, interest expenses are greatly reduced; with most banks achieving zero interest after successful debt restructuring.

．There are no relevant legal fees
Debt relief programs do not require any legal proceedings, so applicants do not have to pay any attorney’s fees or charges.

．Relatively simple solution
Relatively faster and easier solution, and immediately stop the collection nuisance from debtors.

Comparison of DRP debt relief and IVA debt restructuring

．Debt Relief Program (DRP)

Debt relief plans are simpler than IVA and IDRP.  This is a relatively quick solution.
It does not require the debtor to participate in any legal proceedings.
We work out a repayment plan with the debtor’s consent and negotiate with the creditors.
DRP allows creditors to contact debtors directly.

．Individual Voluntary Arrangement (IVA)

IVA is a relatively longer debt restructuring process that involves legal proceedings and an oath before a practicing lawyer.
Moreover, the debtor needs to appoint an accountant or professional to handle the matter on his behalf.

Debt relief successful cases

  • Occupation：Admin　Tutor：$18,400 per month

    CreditorLoan amountCurrent debtMinimum monthly repaymentInterest rateInterest expenseAfter DRP monthly repaymentPeriodInterest rate after DRPInterest after DRP
    HS$150,000$148,366$4,7860.41%$619$2,472.76600.00%$0
    HS$138,000$146,053.7$5,8423.00%$4,382$2,434600.00%$0
    BOC$84,000$76,000$3,0403.00%$2,280$1,548600.37%$281
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    Totally money Saving：$7,281-$281 = $7,000
    Monthly repaymen：$13,668 Reduced to $6,454.76
     

  • Occupation：Retail Sale　Tutor：$17,000 per month

    CreditorLoan amountCurrent debtMinimum monthly repaymentInterest rateInterest expenseAfter DRP monthly repaymentPeriodInterest rate after DRPInterest after DRP
    BOC$250,000$235,140$7,8381.47%$3,671$4,995.28570.37%$870
    UA$30,000$30,000$1,2003.00%$900$766570.80%$240
    PROMISE$30,000$36,449$1,4583.00%$1,093$822570.50%$182
    HS$30,000$27,841$1,1143.00%$835$488570.00%$0
    AE$17,000$16,315$6533.00%$489$417570.80%$131
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    Totally money Saving：$6,988-$1423 = $5,565
    Monthly repaymen：$12,263 Reduced to $7,488.28
     

  • Occupation：Driver　Tutor：$45,000 per month

    CreditorLoan amountCurrent debtMinimum monthly repaymentInterest rateInterest expenseAfter DRP monthly repaymentPeriodInterest rate after DRPInterest after DRP
    HS Bank$265,000$288,829$9,0433.00%$8,665$6,017480.00%$0
    PROMISE$50,000$35,840$5,1201.91%$953$961.70480.60%$215
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    Totally money Saving：$9,618-$215 = $9,403
    Monthly repaymen：$14,163 Reduced to $6,978.70
     

  • Occupation：Designer 　Tutor：$22,800 per month

    CreditorLoan amountCurrent debtMinimum monthly repaymentInterest rateInterest expenseAfter DRP monthly repaymentPeriodInterest rate after DRPInterest after DRP
    AE$33,000$33,710$1,3483.00%$1,011$1,112400.80%$270
    SCB$170,000$157,011$6,2803.00%$4,710$3,925400.00%$0
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    Totally money Saving：$5,721-$270 = $5,451
    Monthly repaymen：$7,628 Reduced to $5,037
     

  • Occupation：Worker　Tutor：$15,200 per month

    CreditorLoan amountCurrent debtMinimum monthly repaymentInterest rateInterest expenseAfter DRP monthly repaymentPeriodInterest rate after DRPInterest after DRP
    AE$35,000$23,495.29$9403.00%$705$630480.60%$141
    DBS$48,000$43,504.66$1,7403.00%$450$463481.00%$150
    AEON$35,000$15,000$6003.00%$450$463481.00%$150
    AEON$60,000$78,760$3,5801.80%$1,080$2,428.43481.00%$788
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    Totally money Saving：$2,685-$1,229 = $1,456
    Monthly repaymen：$6,860 Reduced to $3,984.43