Diff between drs n pte settlement
Ptely they can charge double of what u owe, repayment can stretch up to 12 or 18 mths (with the help of debt counselling)
Bgss once see more than 10k, drs is their solution. I guess because whatever installment they make, u might not be able to settle monthly cause amt is prob half or more of ur salary. Then it doesnt make sense if u default.with drs, it stretch over 5 yrs and based on what u owe only. Price for drs is credit bureau chui max even when u pay up.
My friend's case is slightly below 10k.. Bgss helped him call lml. Its been almost 2 yrs. His paid up all, even with a 2x, it didn't hurt his credit bureau, neither did he have to find 2k plus to file bankruptcy.
He endured forking out half or more of his salary at first then slowly it reduced.
Go church yes, u will see many people sharing their stories n u will realize u r not alone.
Convert... Hmm.. No force one. He gradually didnt attend coz its too far for him.
Benefit of doubt, they r really too bz to be more attentive to u.
Jus be responsible to keep to ur repayments.
My thoughts:
Try go for private installments via bgss. Although more costly, but endure a bit. U keep ur credit bureau healthy.
Drs really not fun at all. Recommended for people with a huge huge amt of debt. Then worth the effort.
What i should have done was to throw away uml n focus to clear drs. I thought i can clear uml ma.. Rubbish, they wont let u go.. The ball so big..
But if i had a choice, i will just x2 the debt n clear lor.. If i did, now i settle liao..hai
Bottom line: cannot clear uml finish de la. Ping pong ball roll until basketball.
I see the money i paid over past yr.. Totally wake up already
Hope this helped our bro n sis to make a decision.
Dont pm me.. I cant decide for any of u. Dont ask me further, i can only share until like this. Anything jus call bgss
Bgss did changed my friend life.
I wish i learnt more to plead them to arrange pte settlement for me instead.. Not their fault, they did suggest whats best for me at that point. Im still thankful i had their support last time.