Debt Management Programme (DMP) by Credit Counselling Singapore (CCS)

[maddogkiller0]

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[maddogkiller0]

 

[maddogkiller0]

 

[maddogkiller0]

A sample how a repayment usually is done each month...

 

[Deadkid]

At which stage are you now with CCS?

Banks will still call even if you tell them you're seeking help from CCS because ultimately, they want their money. I went through the same...What I did was pay them whatever amount that I was able to afford, even if it means just $50. To be honest, some days I ignore their calls but when I did answer, I tried my best to convince them that I am trying my best to pay off the debt hence seeking help from CCS.

Just tahan a bit bro. I just paid my first DMP payment last month and I can tell you that life has been more peaceful without the calls. The approval rate for CCS is about 90%. I was rejected left right centre from banks for DCP but was finally successful for DMP. Hang tough!

Thanks Bros! @money88 and @morningglory!

 

[Izumi8]

Hiaz i am expert at this already

DBS - if your salary is credited to any DBS / POSB, they will auto deduct the amount. Dun need to do anything.

OCBC - the latest to send me letter, 2 whole months late. Go to Cash Deposit Machine and deposit to repayment account

Citibank - pay the existing accounts (AXS)

BOC - Pay to existing account (AXS)

UOB - Pay to repayment account can only go to Cash Deposit Machine to deposit to repayment account/internet banking transfer

if you have enough money (eg bonus etc) can make full payment to UOB, Dinners whenever and it will not affect your DMP status. HSBC cannot must write in one month in advance.

I think now UOB/OCBC has switched to GIRO auto deduction from Savings Accounts.

DBS if GIRO auto never set up, you can pay by "Bills Payment" at DBS IBanking.

CitiBank support FAST transfer from other banks, so you can just do FAST transfer during due date.

BOC also can pay by BOC own IBanking using "Funds Transfer to your own accounts"

It seems like there is no need to use AXS or any third party payment system.

 

[Beflopz]

Hey bros! Can I ask for SCB repayment account did the banker gave any atm card? Is it mailed to us? UOB issue on the spot for atm card but not for SCB.

 

[maddogkiller0]

Hey bros! Can I ask for SCB repayment account did the banker gave any atm card? Is it mailed to us? UOB issue on the spot for atm card but not for SCB.

SCB usually no atm card, they ask you to manage via bank transfer via FAST, or via Cash Deposit at the ATM. You can still see it on your iBanking though.

 

[bioburden]

Hey bros! Can I ask for SCB repayment account did the banker gave any atm card? Is it mailed to us? UOB issue on the spot for atm card but not for SCB.

Bro, SCB will drop u a letter for the repayment account number and the amount to be paid to that account. If you have an existing current account with SCB, then the repayment account will be this account number (at least for mine).

You can only
1) Pay at counter
2) Pay at SCB Cash Deposit Machine
3) Internet Banking to SCB Repayment account

 

[bioburden]

Received BOC letter today! But they didn’t ask me to open repayment account, only ask me to sign on the form to start the repayment starting this month. Do you pay direct to BOC card too?

Yes BOC is straight pay to the credit card. You can pay Via AXS or at BOC Cash Deposit account (select card repayment). There will be no repayment account.

 

[bioburden]

For CCS, choose the date to repay after your payday. There are i think 3 options early month, mid month and end month.
I choose the 28th of each month one but my payday is 30th of each month

 

[Beflopz]

Just went to sign uob letter of offer. It’s converted to term loan at 3% but however the amount is $1K more than my cbs report. I don’t think I owe so much. The bank staff say they will recalculate and inform me the final amount. But I thought once we sign on the letter of offer is based on the offer amount right?

 

[iamnotlame]

Just went to sign uob letter of offer. It’s converted to term loan at 3% but however the amount is $1K more than my cbs report. I don’t think I owe so much. The bank staff say they will recalculate and inform me the final amount. But I thought once we sign on the letter of offer is based on the offer amount right?

There will be a difference from the offer letter to the actual total when you receive the letter detailing the monthly payment and actual outstanding. This is due to the fact that the cbs report is 2 to 3 months off, the version we see.

The amount you will pay monthly will be no more than what is stated in the offer. In my case, the offer letter says a monthly of $1299 but the actual is $1258.

 

[iamnotlame]

For CCS, choose the date to repay after your payday. There are i think 3 options early month, mid month and end month.
I choose the 28th of each month one but my payday is 30th of each month

Interesting. I chose the 18th, my pay is every 25th.

 

[Beflopz]

There will be a difference from the offer letter to the actual total when you receive the letter detailing the monthly payment and actual outstanding. This is due to the fact that the cbs report is 2 to 3 months off, the version we see.

The amount you will pay monthly will be no more than what is stated in the offer. In my case, the offer letter says a monthly of $1299 but the actual is $1258.

Ok thanks! Have to wait how long to receive the letter after signing letter of offer?

 

[lodestone]

up this thread...

sappork each other while we can...

cos all is human.

 

[lodestone]

lets support each other here. dun gamble... dun do be greedy overspend...

 

[iamnotlame]

Ok thanks! Have to wait how long to receive the letter after signing letter of offer?

It is within two weeks after signing of offer letter based on my experience.

 

[Beflopz]

It is within two weeks after signing of offer letter based on my experience.

Thank you! I’ve received ccs letter to say that dmp approved. However I’ve not heard from DBS, HSBC & SCB :/ Guess they are the ones who doesnt want to approve but still have to approve coz majority approve

 

[morningglory]

Thank you! I’ve received ccs letter to say that dmp approved. However I’ve not heard from DBS, HSBC & SCB :/ Guess they are the ones who doesnt want to approve but still have to approve coz majority approve

DBS was the last to send me the letter with all repayment details. SCB was a bit slow too but not as slow as DBS lol