Debt consolidation Plan

[goenitz33]

can anyone tell me for DMP what is the Interest % like ?

is it similar to DCP also ?

 

[melbourne10]

can anyone tell me for DMP what is the Interest % like ?

is it similar to DCP also ?

Officially, no one knows. Unofficially 3% (but may vary). Definitely lower than CC rate of 25/26%

 

[Crazy12]

Me submit final statement to BOC. Hopefully next tue will know

If they keep follow up with u then I think v good chance bro

 

[multi]

I applied to CIMB due to its low advertised rates, but received letter that I got rejected...

Rating: CC
Outstanding: $53,000+
Monthly Salary: $4125

Just a question... Do they include bonus into the calculation?

Your debt is lower and earning higher than me. Why got rejected? Weird....

Sent from LGE LG-H990 using GAGT

 

[melbourne10]

Your debt is lower and earning higher than me. Why got rejected? Weird....

Sent from LGE LG-H990 using GAGT

Different bank

 

[goenitz33]

Officially, no one knows. Unofficially 3% (but may vary). Definitely lower than CC rate of 25/26%

Oic then it seems to be a better deal then DCP then

 

[melbourne10]

Oic then it seems to be a better deal then DCP then

But you lose access to unsecured lending totally.

 

[goenitz33]

But you lose access to unsecured lending totally.

i just need to reduce my interest rates so i can pay my principal amt.

basically now every mth i am servicing my minimal only and with no spare to pay principal.

so progress is very slow.

thus wanted to go on some plan so i can get the interest to be lower so i can clear the principal also.

but all these hidden assessment by the banks is very irritating

Criteria put nice nice >12 but never mention <16 =.=

 

[aang1971]

Banks are not enthusiastic about supporting DCP. They are earning big returns from unsecured credit and sharing the risks with all other banks.

With DCP they get lesser returns and all the risks.

Look at AMEX token DCP plan and banks like ANZ yet to roll out DCP.

Clearly reflect weakness of ABS and lackluster support from banks

 

[goenitz33]

Banks are not enthusiastic about supporting DCP. They are earning big returns from unsecured credit and sharing the risks with all other banks.

With DCP they get lesser returns and all the risks.

Look at AMEX token DCP plan and banks like ANZ yet to roll out DCP.

Clearly reflect weakness of ABS and lackluster support from banks

yeah thats what i think also.

24%-25% becomes 10% of course painful

 

[Louis81]

Anyone applied with Bank of China ? I just submitted mine today. Seems like most went with HSBC

After HSBC, all go BOC

 

[Louis81]

Oic then it seems to be a better deal then DCP then

What was yr NOA

 

[Louis81]

Your debt is lower and earning higher than me. Why got rejected? Weird....

Sent from LGE LG-H990 using GAGT

Yr outstanding cannot include interest for instalmentloans

 

[Centralcoast]

Ok just signed onto CBS site and I'm not offered a free report so I guess my HSBC application has not been declined... Yet? :/ zzz

But I thought u were declined on the 3/3 ? Shouldn't u get a free cbs report for that?

 

[melbourne10]

But I thought u were declined on the 3/3 ? Shouldn't u get a free cbs report for that?

I got one. I think if the review is declined I'll get another one? Idk.

 

[Centralcoast]

I got one. I think if the review is declined I'll get another one? Idk.

So wat does it shows on the cbs ? New application enquiry? The date of enquiry?

 

[melbourne10]

So wat does it shows on the cbs ? New application enquiry? The date of enquiry?

I check later and post here

 

[lodestone]

Your debt is lower and earning higher than me. Why got rejected? Weird....

Sent from LGE LG-H990 using GAGT

Rating is cc... So that explain.

 

[melbourne10]

So wat does it shows on the cbs ? New application enquiry? The date of enquiry?

3/3 New Application, that was also the initial decline date

 

[Carlingford]

Just to share an update..I managed to get my wife to spare me some $ to help me 'dong' min payment & living expenses until June..Hopefully can see some light for DMP by then

That means have to ''dong'' at least for a month or two after counselling..