Debt consolidation Plan

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lork44

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Thanks for bringing some light for my case. I just got rejected by dbs for my dcp application. Can u share ur contact for uob? Thanks

Sure! I will PM you his contact.

You need to allow PM in order for me to send you his contact.
 
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Anewhope

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Hi all.. juz asking advise on a friends behalf.

He borrowed money from this legal money lender. Was supposed to pay up oustanding soon but cant seem to contact them.

Check with ACRA but UEN and name not reflected. Advised to lodge a complain together with police coz this might be either an unregistered business or unlicensed money lender.

He only borrowed $500. Took $450 and payment is $550 for 1 month agreement.

They have his ic and work details.
 

Jojodespo

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I’d suggest if wanna borrow, look up the registered licensed money lender list at the Money lender website. I think it’s found in the MINLAW site

Hi all.. juz asking advise on a friends behalf.

He borrowed money from this legal money lender. Was supposed to pay up oustanding soon but cant seem to contact them.

Check with ACRA but UEN and name not reflected. Advised to lodge a complain together with police coz this might be either an unregistered business or unlicensed money lender.

He only borrowed $500. Took $450 and payment is $550 for 1 month agreement.

They have his ic and work details.
 

GreenAvocado

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If Citibank called me this morning to log in into CPF platform to authorise them to view my cpf contribution history, does that mean higher chance of approval? Cause that is the final stage of application right?

My CBS rating is HH.

I applied for DCP with Citibank 3 days back.

I also sent in application for DCP with MBB today.

Hopefully will get approved on either one. Having problem keeping up with payments.
 

GreenAvocado

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For the CBS report,
Anyone knows what the Alphabets under the Account Status History, the last column, what does the “A”s And “N”s mean.
 

lork44

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For the CBS report,
Anyone knows what the Alphabets under the Account Status History, the last column, what does the “A”s And “N”s mean.

You can check their website to understand your report.
http://www.creditbureau.com.sg/understanding-my-credit-report#

A
- Payment were current to 29 days past due

B
- 30 - 59 days past due

C
- 60 - 89 days past due

D
- 90 days or more past due

E
- Closed with no outstanding balance

F
- Closed with outstanding balance

*
- Facility not used or zero balance

G
- Voluntary closure with outstanding / surrender of security with outstanding balance

H
- Involuntary closure with outstanding / surrender of security with outstanding balance

R
- Closed, restructured Loan

S
- Closed, negotiated settlement prior to charge off

W
- Coded as default record by Member

M
- Account status not available#
 

Tiger9119

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For the CBS report,
Anyone knows what the Alphabets under the Account Status History, the last column, what does the “A”s And “N”s mean.

Second Row - Cash advance status / Balance transfer indicator (Only applicable to Credit Card facilities)
Y - Yes. Indicates that there is cash advance / balance transfer activity or balance.
N - No. Indicates that there is no cash advance / balance transfer activity or balance.
– - Data on cash advance / balance transfer are not available as the credit facility was not in use.

Third Row - Full payment status (Only applicable to Credit Card facilities)
Y - Yes. Indicates that full payment has been made for that month
N - No. Indicates that full payment was not made for that month
– - Data on full payment is not available as the credit facility was not in use.
 

Jojodespo

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No this doesn’t mean higherchance. It just means the bank is proceeding with your application. Still 2 more steps for approval :)

If Citibank called me this morning to log in into CPF platform to authorise them to view my cpf contribution history, does that mean higher chance of approval? Cause that is the final stage of application right?

My CBS rating is HH.

I applied for DCP with Citibank 3 days back.

I also sent in application for DCP with MBB today.

Hopefully will get approved on either one. Having problem keeping up with payments.
 

Youandme8888

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If Citibank called me this morning to log in into CPF platform to authorise them to view my cpf contribution history, does that mean higher chance of approval? Cause that is the final stage of application right?

My CBS rating is HH.

I applied for DCP with Citibank 3 days back.

I also sent in application for DCP with MBB today.

Hopefully will get approved on either one. Having problem keeping up with payments.

What's your credit score and are you current user of both Maybank and Citibank
 

alvinblank

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Got rejected from Maybank. Trying HSBC now, fingers crossed.

X DBS
X Maybank
 
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Jojodespo

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Not having an account with the applying bank will affect your probability but only slightly tho.

Usually banks will want to see your payment cycles, especially since they are only able to see their own banking product and not other banks.

If you don’t have an account with them, they’d probably have to rely more on looking at your other banks payment cycles via your CBS report.

Note that some banks require the applicant to have an account with them or they don’t qualify.

Credit score 1695 HH

Current user with Citibank.
Dont have any accounts with MBB.

Would that affect my application success probability??
 

GreenAvocado

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Not having an account with the applying bank will affect your probability but only slightly tho.

Usually banks will want to see your payment cycles, especially since they are only able to see their own banking product and not other banks.

If you don’t have an account with them, they’d probably have to rely more on looking at your other banks payment cycles via your CBS report.

Note that some banks require the applicant to have an account with them or they don’t qualify.

Thanks for that info Jojo.

Well in my cbs report, its all is AAAAA for the the first row. No other alphabets. HOPEfully, that reflects well on my repayment habits
 

Jojodespo

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They will check on your current credit exposure.

What’s the total unsecured credit limit on your CBS report vs your total outstanding?

If it is over the limit, it gets harder to be approved.

Thanks for that info Jojo.

Well in my cbs report, its all is AAAAA for the the first row. No other alphabets. HOPEfully, that reflects well on my repayment habits
 

GreenAvocado

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They will check on your current credit exposure.

What’s the total unsecured credit limit on your CBS report vs your total outstanding?

If it is over the limit, it gets harder to be approved.

My CBS reports states $48k
My total outstanding when calculated with the MBB consultant is $51k
 

stiffyfoot

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Hi anyone can advise, if my DCP is active. I wish to obtain a new vehicle loan. Base on the DCP bank agent says DCP is unsecured loan and vehicle loan is secured loan. It will not cross affect.

Their explanation is not very clear. Anyone can advise?
 
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