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Old 02-10-2018, 12:48 PM   #1
Join Date: Jul 2016
Posts: 295
jialat liao... CBS report - "Y" in DMP

TIA if anyone can advise.

More than 15 years ago in my younger wilder days, i racked up a big cc debt. in 2004/5, Credit Counselling Singapore was set up, so I go look look. But I recall during the first session, they say need to pay $100 fee plus they are not confident banks can accept their repayment proposal, it is just trying to convince, unlike the new DCP scheme nowadays. So I didnt take up their proposal and I personally negotiated with the banks one by one and managed to clear within 2 years. Never touched credit since.

recently, which is 15 years later, I applied for a citi credit card at a roadshow largely because of petrol discount and to test my credit worthiness. To my surprise I was rejected. I look through the CBS report, I was BB, and found at the top, under Debt Management Program, it was "Y", and notes said I was under DMP since 2005. CBS said for this Y to appear, CCS would have sent them a report in 2005 saying I was under DMP. They say to remove, I need CCS to send them a letter to say I have fully paid! I call CCS to kan them, because all I did was met them once, and never dealt with them ever after, how could they say I am under DMP! On the phone with CCS, my NRIC did not even pop up anything! they say will call me back and I doubt they can find anything.

Anyone knows if the Y for DMP is indeed by CCS or any of the banks I negotiated with 15 years ago could have made that appear? Anyone same case?

now I know why few years ago when I wanted to refinance my Hong Leong HDB loan with different banks, all rejected me... imagine, HDB loans rejected is crazy... should have suspected something then.

This time is sibei jialat liao cuz I need to take a reno loan very very soon... people say with a "Y" under DMP, it is impossible to secure anything... true?

Also, I see legal moneylenders advertising Renovation Loan, are they legit?
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