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

[HelplessFreak]

This means I can apply for DMP before clearing my LML? Did you go and see those groups for counselling too?

I attend 1 to 1 counselling.. Yes u still can go to CCS coz they will advise and workout a payment plan for you. If you have surplus, and if they find you to hv potential in paying your debts, definitely they will help...

Another way is, you don't hv to declare that u owe money lender. This process took 2 to 3 months time to get it approve. Who knows probably at the point of your DMP approval, your money lender debts already clear

 

[HelplessFreak]

Thank you...

Congratulations on the approval of your DMP. As you have said, the real journey to debt-free life now begins. So take it a month at a time and stay the course.

All the best.

 

[waunderwall]

I declared already. Urgh. Thinking if I should call them and check it out again

I attend 1 to 1 counselling.. Yes u still can go to CCS coz they will advise and workout a payment plan for you. If you have surplus, and if they find you to hv potential in paying your debts, definitely they will help...

Another way is, you don't hv to declare that u owe money lender. This process took 2 to 3 months time to get it approve. Who knows probably at the point of your DMP approval, your money lender debts already clear

 

[money88]

I declared already. Urgh. Thinking if I should call them and check it out again

i think u declared already is a bit hard unless u can prove u have surplus for bank and LML payment and after LML payment loan finish CCS will ask u to have higher payment per mth for your LHL payment portion, if not i think they will ask u to settle the LHL loan first

 

[waunderwall]

i think u declared already is a bit hard unless u can prove u have surplus for bank and LML payment and after LML payment loan finish CCS will ask u to have higher payment per mth for your LHL payment portion, if not i think they will ask u to settle the LHL loan first

Yeah need to wait for end of July. Anyway my family is able to help me out with 10k of the total amt. the rest I will settle via DMP

 

[seeklightsoon]

Yeah need to wait for end of July. Anyway my family is able to help me out with 10k of the total amt. the rest I will settle via DMP

No problem, you just continue with your application. For me, the last time, I had LML debt as well. I told them that I will settle it internally via friends/family by end of the month. So they just compute the monthly repayment as if I don't have any LML debt. And it was approved even though my LML debt has yet to be settled.

All the best in your application!

 

[waunderwall]

No problem, you just continue with your application. For me, the last time, I had LML debt as well. I told them that I will settle it internally via friends/family by end of the month. So they just compute the monthly repayment as if I don't have any LML debt. And it was approved even though my LML debt has yet to be settled.

All the best in your application!

Thanks! My credit rating is HH, I hope i can get it approved

 

[seeklightsoon]

Thanks! My credit rating is HH, I hope i can get it approved

Mine was HH when I applied for DMP as well and was approved. Hope to hear some good news for you.

 

[HelplessFreak]

Hi guys... Is it compulsory to attend on boarding session? Can I don't go?

 

[Simonlee1977]

Sorry, wat does LCL means

Chalked up 37k to different banks due to partying and impulse shopping...now I’m selling my stuff just to make the minimum payment.

What’s worse is that I even borrowed from LCL to make these payments. But these nightmares never end cause my monthly pay cannot cover these liabilities.

Going to settle my LCL issue after taking my bonus at the end of this month before applying for a follow up with CCS to see if they can help me with their DMP.

Lesson learnt: do your math and never borrow from LCLs!

 

[seeklightsoon]

Hi guys... Is it compulsory to attend on boarding session? Can I don't go?

It is compulsory. You have to attend the Info Talk before you can apply for the DMP. Anyway, the talk is around 2 hours and it does give you some insights on what to expect.

 

[hwaa]

Hi guys... Is it compulsory to attend on boarding session? Can I don't go?

u have to go. if not how u get started?

 

[HelplessFreak]

Yup my DMP already approved but can't find the time to go for on boarding session

It is compulsory. You have to attend the Info Talk before you can apply for the DMP. Anyway, the talk is around 2 hours and it does give you some insights on what to expect.

 

[HelplessFreak]

I tot just follow bank instructions on how to pay. Like Uob when I get the letter of offer, the personnel told me to pay by 11th instead of 8th like what CCS told me to do... So far, only UOB n SCB informed me on how to pay. Whereas, other banks hv no reply even CCS already sent out email for the approval.

u have to go. if not how u get started?

 

[seeklightsoon]

Yup my DMP already approved but can't find the time to go for on boarding session

What do you mean by the on-boarding talk? If your DMP is approved, you would have receive a letter from CCS to inform you about it that DMP has been accepted by banks. There will be no more talk following the approval. However, you may be asked by some banks to proceed to their processing center to sign letters and/or open accounts.

However if you are referring that your DMP has cleared the internal approval, you will need to attend the clearance talk to authorise CCS to submit your plan to banks for approval. At this stage, your DMP hss yet to be approved. Banks may reject the DMP proposal by CCS.

 

[Happy4]

Think the process is abit different now. 1st attend the $30 complusory info talk, collect the blue form, submit and wait for counselling appt, which is one to one. After the appt a dmp proposal will be drawn up, submitted to the bank at the same time. I received letters from the banks even before i attended the onboarding session, which is mostly to guide us how to pay to the banks of we have yet to receive letters and to teach us how to plan our expenses according to the budget. I believe the onboarding session might not be complusory but better to call up psteam to confirm. Their number is 6929 6900

What do you mean by the on-boarding talk? If your DMP is approved, you would have receive a letter from CCS to inform you about it that DMP has been accepted by banks. There will be no more talk following the approval. However, you may be asked by some banks to proceed to their processing center to sign letters and/or open accounts.

However if you are referring that your DMP has cleared the internal approval, you will need to attend the clearance talk to authorise CCS to submit your plan to banks for approval. At this stage, your DMP hss yet to be approved. Banks may reject the DMP proposal by CCS.

 

[HelplessFreak]

Hi guys... Do u account with Citibank? My DMP already approved with major banks but not citibank. Can u guys share your experience for citibank processing timing?

 

[seeklightsoon]

Hi guys... Do u account with Citibank? My DMP already approved with major banks but not citibank. Can u guys share your experience for citibank processing timing?

For Citibank it is quite straight forward. Just pay as per what CCS told you in terms of amount and date. After that, the letter of acceptance will be sent to you after that on the revised amount, payment account and date.

Usually Citibank takes a while to reply.

 

[HelplessFreak]

For Citibank it is quite straight forward. Just pay as per what CCS told you in terms of amount and date. After that, the letter of acceptance will be sent to you after that on the revised amount, payment account and date.

Usually Citibank takes a while to reply.

Thank you for the reply... At least I feel better coz I tot not approved. And also CIMB also never inform anything so I will just wait and follow the payment instructions from CCS

 

[seeklightsoon]

Thank you for the reply... At least I feel better coz I tot not approved. And also CIMB also never inform anything so I will just wait and follow the payment instructions from CCS

You don’t have to worry. So long as CCS informed you that it is approved, all banks have to approve. I had a nasty experience with CIMB who insisted that I pay the minimum amount as per card statement despite my approval from CCS and sent me lawyer letter. I informed CCS about it providing the name of person whom I have spoken to and CCS get them to expedite the case to adjust my payment to that of CCS plan.

All the best to you!