Debt consolidation Plan

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Vygotsky84

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This is an ABS initiative.

As long as you meet the requirements and are eligible, no harm trying.

Of course, a good credit record and job history won't hurt.

They will assess if you are indeed able to pay the monthly amount for the time period selected, ie can this customer pay the installment, monthly, for the next 7 years (UOB is 6, Citi is 7 max)
 

Izumi8

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Ya I know but my first thot was to apply with dbs .. ������������...

From hsbc websites, one to seven years tenor HSBC rate is 4.7% flat rate, EIR 8.5%. seems like much lower than DBS. Have you asked HSBC? DBS EIR could be more than 12%?
 
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From hsbc websites, one to seven years tenor HSBC rate is 4.7% flat rate, EIR 8.5%. seems like much lower than DBS. Have you asked HSBC? DBS EIR could be more than 12%?
Actually I did not compare and I knew there was such plan to help us . I just went for dbs .. just hope it will b approved and I just pay to one bank monthly and all the problem will b solve in 8 years ..?
 

multi

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From hsbc websites, one to seven years tenor HSBC rate is 4.7% flat rate, EIR 8.5%. seems like much lower than DBS. Have you asked HSBC? DBS EIR could be more than 12%?

Have applied HSBC, now waiting for approval. So far they are the lowest. Also, processing fee is waived. Pls be wary of the processing fee, some can go as high as 2-4%. Imagine you borrow 60k, processing fee will be $1.2K added in.

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Just visit one of their branch with all your CC statements, Credit bureau report, income documents and IC. The CSO will key in all figures to see if you qualify or not. If yes, they will proceed.

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Instant approval ? My credit point is HH so m worried .. haiz ... just called up dbs .. previously they double check something with me then all my docs only in last mon , they told me today they are checking with some banks on my last outstanding .. does it means got chance ??
 
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multi

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Instant approval ? My credit point is HH so m worried .. haiz ... just called up dbs .. previously they double check something with me then all my docs only in last mon , they told me today they are checking with some banks on my last outstanding .. does it means got chance ??

Approval takes about 2 weeks. Credit rating is one of their consideration. I don't know rating of HH will affect the approval or not. The DCP is to help borrower to settle their obligations and if they don't approve then it is meaningless. But then again, each bank will have different risk appetite.

Sent from LGE LG-H990 using GAGT
 
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Approval takes about 2 weeks. Credit rating is one of their consideration. I don't know rating of HH will affect the approval or not. The DCP is to help borrower to settle their obligations and if they don't approve then it is meaningless. But then again, each bank will have different risk appetite.

Sent from LGE LG-H990 using GAGT

I also think this plan is to help us .. but of cos they will access our risk .. I actually submitted first week of Feb but some missing docs and all was in last mon .. 🙏🏻🙏🏻
 

deadlockb

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they told me today they are checking with some banks on my last outstanding .. does it means got chance ??

Is the bank itself checking with other banks regarding your latest balance ? i thought we need to provide letters to support the final outstanding ?i applied to a bank, and they asked me to provide all Installment plan letters from the respective banks.
 

deadlockb

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Have applied HSBC, now waiting for approval. So far they are the lowest. Also, processing fee is waived.
so..ur rate is 4.7%? very good rate.did they ask for Banks letters etc if you have any installment plans etc?
 
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