Debt consolidation Plan

[melbourne10]

When did you apply? I submit on 28Feb and until now no sound no pictures?

Even dead already also no notice....

I submitted on 27/2, I called in but they can only advise me of the decision made on 3/3 to decline the application, no update for the review.

The main line is 64994855 if you want try calling in directly.

 

[tanks51]

U can call hsbc and ask status

Call already CSO no answer phone as usual.

 

[aang1971]

Bro check with u, those buffer excess need call up each bank to ask for refund is it ?

Yes, they will issue cashier order or transfer to your saving/current

your line of credit will be like current account...no interest paid, but cannot draw overdraft..so better just close it

 

[melbourne10]

Yes, they will issue cashier order or transfer to your saving/current

your line of credit will be like current account...no interest paid, but cannot draw overdraft..so better just close it

Oh so just have to wait for the DCP bank to make the payment, then ask for refund, then close the account la

 

[melbourne10]

Call already CSO no answer phone as usual.

Ya just jam there. I want to try Citi and BOC also cannot cuz cannot have concurrent application.

 

[aang1971]

I think when designing the DCP, ABS asked for inputs from stakeholders such as CCS. Probably there are more such fu*kers out there than we imagine.
Their rationale for DCP/DMP is simple, it is a simple way for them to pay lower interest rates with little sacrifice..don't think these guys give a heck on whether their unsecured facilities are suspended or not...game the system lor.

dcp's objective was not to reduce interest payable

primary objective was to consolidate the debt to facilitate the debt reduction

that is why dbs bank interest is sky high

we are lucky the banks are in competition else if everyone like the MIW controlled DBS, my repayment will be >30% monthly than what I am suppose to be paying now

 

[Louis81]

dcp's objective was not to reduce interest payable

primary objective was to consolidate the debt to facilitate the debt reduction

that is why dbs bank interest is sky high

we are lucky the banks are in competition else if everyone like the MIW controlled DBS, my repayment will be >30% monthly than what I am suppose to be paying now

Boc vouchers u got?

 

[melbourne10]

dcp's objective was not to reduce interest payable

primary objective was to consolidate the debt to facilitate the debt reduction

that is why dbs bank interest is sky high

we are lucky the banks are in competition else if everyone like the MIW controlled DBS, my repayment will be >30% monthly than what I am suppose to be paying now

Yup DMP is to reduce interest to help you pay off, DCP is to allow you to consolidate but the banks still need to earn so 10-11% EIR is already decent. Compared to 26% for CC.

 

[aang1971]

Yup DMP is to reduce interest to help you pay off, DCP is to allow you to consolidate but the banks still need to earn so 10-11% EIR is already decent. Compared to 26% for CC.

most banks are between 10% to 15% EIR...DBS is about 20%

Maybe must contribute to MIW salaries as well!!

 

[aang1971]

Boc vouchers u got?

yeap...and en cashed already

 

[Louis81]

yeap...and en cashed already

Can encashed?

 

[Louis81]

yeap...and en cashed already

What vouchers

 

[aang1971]

What vouchers

capital land...just sell it at 4% disc to people who really needs it

 

[melbourne10]

yeap...and en cashed already

The CC is based on monthly income (payslip) or the (annual income /12)?

 

[melbourne10]

capital land...just sell it at 4% disc to people who really needs it

Wah how much vouchers did they give?

 

[aang1971]

The CC is based on monthly income (payslip) or the (annual income /12)?

what you mean by cc

i submitted latest payslip and 6 mths cpf (proof of consistent income)

 

[melbourne10]

what you mean by cc

i submitted latest payslip and 6 mths cpf (proof of consistent income)

The credit card they issue after approving DCP.

 

[aang1971]

The credit card they issue after approving DCP.

1 month based on payslip.

 

[Louis81]

Wah how much vouchers did they give?

I think is 3% of approved loan

 

[melbourne10]

I think is 3% of approved loan

Quite good. Citi is offering fair price voucher now if I'm not wrong. But not publicised.