You're about to leave our website

This hyperlink will bring to you to another website on the Internet, which is published and operated by a third party which is not owned, controlled or affiliated with or in any way related to Standard Chartered Bank (Hong Kong) Limited or any member of Standard Chartered Group ( the "Bank").

The hyperlink is provided for your convenience and presented for information purposes only. The provision of the hyperlink does not constitute endorsement, recommendation, approval, warranty or representation, express or implied, by the Bank of any third party or the hypertext link, product, service or information contained or available therein.

The Bank does not have any control (editorial or otherwise) over the linked third party website and is not in any way responsible for the contents available therein. You use or follow this link at your own risk. To the extent permissible by law, the Bank shall not be responsible for any damage or losses incurred or suffered by you arising out of or in connection with your use of the link.

Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the terms of use and privacy policies of the third party website that you are going to visit.


Proceed to third party website
Invest debt securities services masthead legacy

Debt Restructuring Plan

Debt Restructuring Plan?

Standard Chartered Bank (Hong Kong) Limited (“SCBHK”) is committed to helping our customers overcome any short- or long-term financial instability that they may be experiencing. If you’re having difficulties making your repayments, our dedicated Debt Relief Specialist could work with you to develop a personalised debt repayment plan that suits your needs and budget.
Please contact us to help you to find out a solution.

Supporting you through the tough times

If you might not be able to make your monthly credit card, loan or overdraft repayments, or have already missed a payment, contact us as soon as possible.  We are here to discuss your options with you to find the best solution given your financial circumstances.

Individual Debt Restructuring

Please let us know the reason(s) of your current financial difficulties, the amount of debt you have and your current income and expenditure by using the Application Form, Income and Expense Form and Information of Third Party Referral below and fill in as much as possible to help us understand your current financial situation.

Please read through the following documents as well before you fill in the above forms.

Please also provide the following documents for our verification purposes:

  • Employment Proof (e.g. Employment Contract, Staff Card or Name Card copy)
  • Latest 6 months payroll slips
  • Copy of Savings Passbook and/or Bank Statements for the past 6 months indicating salary credit
  • Latest MPF/ORSO Statement indicating Salary
  • Latest Tax Demand Note
  • Expenses Proof (Housing, Utilities Bill or Medical)
  • Latest Statement for all Unsecured Lending (Credit Card, Overdraft Account/ Loan, if any)
  • Approved DRP Agreement or Contract from other Creditors (if any)
Business Banking Debt Restructuring

Please let us know the reason(s) of the current financial difficulties, the amount of debt you have in your Company by using the forms below and fill in as much as possible to help us understand your current financial situation.

Please read through the following documents as well before you fill in the above forms.

Please also provide the following documents for our verification purposes:

The Company – in case you are a Company 

  • Copy of “Business Registration Certificate”
  • Copy of Particulars of Sole Proprietorship (Form 1A) (if applicable)
  • Copy of Particulars of Partnership (Form 1C) (if applicable)
  • Copies of Particulars of Directorship and Company Secretary (Form D1/D2) (if applicable)
  • Latest 6 months Bank Statements from all Major Bankers
  • Latest Financial Statement

The Sole-Proprietor / Partners / Guarantors – in case you are a Sole Proprietorship, Partnership or a Guarantor

  • Copy of Hong Kong Identity Card / Passport
Applying for Debt Relief Programme

You can contact us through the following channels:

Phone: +852 2282-1222 during 9.00 a.m – 6.00 p.m., Monday – Friday

Email: drp.workunit@sc.com

Mail:  DRP WorkUnit, Hong Kong Collection & Recoveries
30/F, Standard Chartered Tower, 388 Kwun Tong Road,
Kwun Tong, Hong Kong

How long will the process take?

Our dedicated Debt Relief Specialist will provide the right solution within 2 weeks if all the required documents provided. It could be over a month if all the required documents are not available. Regardless of how long it takes we will keep you updated of the progress.

Important Notice

Registration with Credit Reference Agency / Credit Commercial Reference Agency

It is an industry requirement for details of any form of debt restructuring to be registered with the Credit Reference Agency, TransUnion Limited/ Credit Commercial Reference Agency, Dun & Bradstreet Limited. This may adversely impact your ability to obtain credit both from ourselves and from other credit providers in Hong Kong.

Unless the amount in default during the debt restructuring period is fully paid or written off (otherwise than due to a bankruptcy order) before the expiry of 60 days from the date of the default, the individual shall be liable to have his account repayment data to be retained by the Credit Reference Agency until the expiry of 5 years from the date of final settlement of the amount in default or 5 years from the date of the individual’s discharge from bankruptcy as notified to the Credit Reference Agency, whichever is earlier. 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.

Suspension of all existing unsecured credit facilities within SCBHK

If debt restructuring is in the application stage, all your unsecured credit facilities in SCBHK such as credit cards including Manhattan and American Express, supplementary card, overdrafts and loans will be suspended for further usage.

Closure of all existing unsecured credit facility accounts within SCBHK

If debt restructuring is approved and agreed, all your unsecured credit facilities in SCBHK such as credit cards including Manhattan and American Express, supplementary card, overdrafts and loans will be closed. Any auto-payment services (e.g. Insurance, utility bill, Octopus & Payment by Phone Service etc.) paid through these accounts will be stopped and alternative arrangements made is required.  Any unredeemed Credit Card Reward Cash will be forfeited upon the closing of your credit card accounts.

 

Further information and support (Only applicable for Individual)

Inter-Bank Debt Relief Plan (IDRP)

Objective of the Inter-Bank Debt Relief Plan is to assist customers, who has unsecured debts with more than one financial creditors, to reach a household budget, which can support your daily living while implementing repayment plan with multiple creditors at a cost effective mean. Customers facing financial difficulties can approach the major creditor (i.e. the “Lead Bank”) to arrange for Inter-Bank Debt Relief Program.

Individual Voluntary Arrangement (IVA)

Customers who have financial difficulties and are unable to settle their debts within payment period can request for IVA through their appointed solicitors. The customer may obtain an interim court order and your solicitors may prepare a proposal and send to banks for evaluation.  Please consult your solicitors.

You may also find details on how to deal with financial difficulties from the following websites which do not belong to SCBHK.  Please exercise your own judgement in contacting them or seeking their advice.

Healthy Budgeting Family Debt Counselling Center
Caritas Family Crisis Support Centre – Debt and Financial Capability Service
Guide to Bankruptcy & Individual Voluntary Arrangement