SINGAPORE - TikTokers advertising themselves as debt consultants are charging debtors thousands of dollars to exploit a government bankruptcy avoidance scheme.Checks by The Straits Times showed that there are at least a dozen such consultants on the social media platform.One consultant said that for a fee, he can guide debtors through the Debt Repayment Scheme (DRS) to help them secure a discount on their debt.He said he had helped a client clear a debt of more than $100,000 with a repayment of only one-third of what he owed, or $35,000.«That's $65,000 savings, no shiok meh? (sic),» the man added.ST understands such firms charge debtors between $1,000 and $5,000 for their services.Credit Counselling Singapore (CCS), a non-profit organisation and registered charity, said it has seen a number of debtors falling prey to exploitative debt consultancy firms.CCS general manager Tan Huey Min said it had a debtor who approached the organisation after he paid a consultancy firm in hopes of getting on the DRS.The man had debts of more than $150,000, above the threshold for the bankruptcy avoidance scheme. Read more