Debt consolidation Plan

[Thedarkalley]

Thank you! Will check on this.

you able to cash advance but the limit will not same as credit limit such as mine scb, credit limit is 4.7 but cash advance limit only 1.41...

 

[Orangelost]

HSBC DCP

Hi brothers and sisters,

Like many of you I have been trying to apply DCP with UOB, SCB and HSBC.

I just received this message from HSBC:


"HSBCSG: Please note that your unsecured credit facilities are suspended following the approval of your Debt Consolidation application."


Does that means that my DCP has been approved?

 

[Jojodespo]

Yes, congrats! Wait a few days for your banker to officially inform you of the approval

Hi brothers and sisters,

Like many of you I have been trying to apply DCP with UOB, SCB and HSBC.

I just received this message from HSBC:


"HSBCSG: Please note that your unsecured credit facilities are suspended following the approval of your Debt Consolidation application."


Does that means that my DCP has been approved?

 

[Orangelost]

Yes, congrats! Wait a few days for your banker to officially inform you of the approval

Thanks! I submitted on Wed and my CSO said bcos today is Good Friday so I won’t know it until next week. I was pretty surprised to receive this sms this morning! But thank god man, I can finally get my life back on track now.

 

[MOBIO.sg]

Bro just to ask , how much u owe and how much u need to pay each mth?

Thanks! I submitted on Wed and my CSO said bcos today is Good Friday so I won’t know it until next week. I was pretty surprised to receive this sms this morning! But thank god man, I can finally get my life back on track now.

 

[Orangelost]

Bro just to ask , how much u owe and how much u need to pay each mth?

I own $53k but with 5% buffer about $57k

I chose 7years tenure and it’s about $800ish. Can’t remember the exact amount since it’s over the phone.

My CSO probably will only get back to me by next Mon with the exact details.

 

[Jojodespo]

Which bank did you apply with? approval and disbursement depends on which bank you go with. It does affect how much you can take back after paying off all the banks.

Remember to call in to request for as much interest waivers you can ever get. For mine, I waived almost 3 months interest with each bank. Must keep letting them know that your DCP pays off every balance and you’re trying to close the account.

Another tip, if you wanna use your credit card in future... tell them to suspend it, not close it. And then make sure to call in every year to waive annual fees. So when you get out of DCP, you still have credit cards to use.. haha.

I own $53k but with 5% buffer about $57k

I chose 7years tenure and it’s about $800ish. Can’t remember the exact amount since it’s over the phone.

My CSO probably will only get back to me by next Mon with the exact details.

 

[MOBIO.sg]

Once you are in dcp and even if u pay off , the record will still be there forever right?

 

[Orangelost]

Which bank did you apply with? approval and disbursement depends on which bank you go with. It does affect how much you can take back after paying off all the banks.

Remember to call in to request for as much interest waivers you can ever get. For mine, I waived almost 3 months interest with each bank. Must keep letting them know that your DCP pays off every balance and you’re trying to close the account.

Another tip, if you wanna use your credit card in future... tell them to suspend it, not close it. And then make sure to call in every year to waive annual fees. So when you get out of DCP, you still have credit cards to use.. haha.

What interest wavier? Most of them are Cc outstanding though.

I applied with hsbc and got approved by them.
So won’t they be the one settling the payment with the bank?
Do I have to call each bank to ask for the excess?

 

[ATSB2014]

Hi everyone. Can anyone share any possible solution. I have credit card balances which is about half of my annual. So I know won't qualify for DCP. What I really want to clear is my loan from legal moneylender which has now ballooned to more than my monthly salary. I tried getting another personal loan from bank but got rejected most probably because my credit standing is HH (credit score 1521). Will CCS be able to help? At least to lower my monthly repayments so I can clear off the moneylender loan. So stressed now...

 

[Orangelost]

Hi everyone. Can anyone share any possible solution. I have credit card balances which is about half of my annual. So I know won't qualify for DCP. What I really want to clear is my loan from legal moneylender which has now ballooned to more than my monthly salary. I tried getting another personal loan from bank but got rejected most probably because my credit standing is HH (credit score 1521). Will CCS be able to help? At least to lower my monthly repayments so I can clear off the moneylender loan. So stressed now...

I think you should just go through the dmp route. I was 17*5 and Kena up right center and managed to get approved by hsbc and that’s because I always pay there bill monthly on time. I am Heng man. But I feel you brother. Don’t give up. Just make appt with the ccs.

 

[Jojodespo]

Yes, they will over pay with the 5% buffer. The remaining, you’ll need to call in or go to the individual banks counters to request for cashiers order. HSBC quite fast. You should be able to see your credit limit increase by now

What interest wavier? Most of them are Cc outstanding though.

I applied with hsbc and got approved by them.
So won’t they be the one settling the payment with the bank?
Do I have to call each bank to ask for the excess?

 

[Jojodespo]

Bro quickly head to CCS for help, or go via the DMP route.

Don’t snowball legal money lenders, they interest quite high.. actually is super high...

I also took a loan from a legal moneylender.. 6k loan, late interest is $150 for a week.. suck thumb.

Hi everyone. Can anyone share any possible solution. I have credit card balances which is about half of my annual. So I know won't qualify for DCP. What I really want to clear is my loan from legal moneylender which has now ballooned to more than my monthly salary. I tried getting another personal loan from bank but got rejected most probably because my credit standing is HH (credit score 1521). Will CCS be able to help? At least to lower my monthly repayments so I can clear off the moneylender loan. So stressed now...

 

[ATSB2014]

Ok thanks, bros... The credit card payments are okay. It's the moneylender loan that is a killer. Will schedule with CCS. I tried the link I found (here or another thread). The creditculture.sg. Also rejected. It looked good. Lower interest than moneylender and can stretch longer. Also rejected. So depressing. But thanks for the advise. I will go and schedule with CCS.

 

[KKK1978]

CCS does not cater for moneylender debts. Suggest u contact blessed grace social services. They can help arrange installments with moneylender

Ok thanks, bros... The credit card payments are okay. It's the moneylender loan that is a killer. Will schedule with CCS. I tried the link I found (here or another thread). The creditculture.sg. Also rejected. It looked good. Lower interest than moneylender and can stretch longer. Also rejected. So depressing. But thanks for the advise. I will go and schedule with CCS.

 

[MOBIO.sg]

Hi , i intend to loan money from credit culture to pay off credit card debts. Is it recommended?

 

[ATSB2014]

CCS does not cater for moneylender debts. Suggest u contact blessed grace social services. They can help arrange installments with moneylender

Didn't know about blessed grace. My plan was to at least get lower credit card payments so I can also slowly clear the moneylender loan. But thanks, man. I'll look into blessed grace.

 

[ATSB2014]

Hi , i intend to loan money from credit culture to pay off credit card debts. Is it recommended?

I think you have to calculate. Creditculture gives 1% per month interest. Credit cards might be higher. But if you use creditculture to clear your credit cards, need a lot of discipline not to use the credit cards again.

 

[MOBIO.sg]

Tried to apply liao but they can only loan me 6.2k , i need 20k so no point to loan liao.

I think you have to calculate. Creditculture gives 1% per month interest. Credit cards might be higher. But if you use creditculture to clear your credit cards, need a lot of discipline not to use the credit cards again.

 

[Happy4]

Is it instant approval? Can I check what is your credit rating?

Tried to apply liao but they can only loan me 6.2k , i need 20k so no point to loan liao.

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