1. How do Interbank Debt Relief Plans in Hong Kong work?

In short, the Interbank Debt Relief Plan consolidates all your high-interest loans – no matter where they are, who the lenders are, or their lending interest rates.

Once all your loans are consolidated, you negotiate with your largest creditor (the person/company you borrowed the most considerable sum of money from). They will be asked to take charge of all your debts and negotiate a repayment plan. At HKPDRC, we do this for you.

Once that is done, and you have agreed on a mutually beneficial repayment plan, you don’t have to pay back all your multiple creditors. Every month, you simply pay back your largest creditor with a single, lower-interest loan.