For the first time in Singapore, consumers can see the information in their credit report expressed as a three digit number - the higher the number, the better an individual’s credit worthiness.

The DP-Delphi Score is a joint initiative of DP Credit Bureau (DPCB) and the world’s largest credit reference agency, Experian. A credit score is a statistically-generated number based on an analysis of an individual’s credit payment history and other related information.

In March 2008, the average rate of default across all age groups was 0.89%. This fell to 0.59% in March 2009 and by March 2010 the rate was a low 0.43%. This means that in 2008 one in every 112 mortgagors were in default on their repayments, and this figure has dropped to just one in every 233.

The figures show the percentage of default records of 21 to 29 year olds rose from 5.07% in January 2009 to 7.16% in December 2009 - making them the age group with the highest number of defaults

A new study by DP Credit Bureau (DPCB) has revealed 32.5% of consumers who are slow in repaying debts to a business will fall behind in their bank loans within seven months.

Competition to lending institutions and individuals...