Debt consolidation Plan - Part 2

[meikitenga]

Hi all who are on DCP with either MB or SCB.

Can check with you if under your CBS report's "Account Status History" section showing the list of your current and recent credit facilities, shows your DCP as "DC" or "Unsecured Credit Card"?

I understand there should be two entries; one being the the revolving credit card. But what about the DCP loan. Does it show "DC", or "Unsecured Credit Card"? Thanks.

Any bro/sis on DCP for MB/SCB can help with this query pls?

 

[Jumpstart22888]

Hi, just my 2 senses word, that I have been through, I went to all of them but eventually end up with Sg debtbuster becos sgdebtbuster genuinely are here to help with real professional 1 to 1 private counseling. They have real debt repayment plan with the bank like ccs credit counseling of Singapore.

I went to edudebt and debtaid they are so pushy and their only plan is bankruptcy. My wife fall to their pushy plan filed for DRS and end up bankrupt. And edudebt open up tons of debt company all belongs to edudebt their so call educator are like mlm seller.

If you sees a debt company address that is at woodland . Then it is sure by edudebt, they are not here to help consumers but to built an mlm business. I hope min law or the authority will do something. They even ask my wife to borrow more money in order to hit the bankruptcy 15k ceiling and to pay their high fees.

And noted my wife after being made bankrupt the so call edudebt debt educator don’t even pick up call. That keep providing empty promises and push people to bankrupt, I don’t think that’s ethical. How could the edudebt educator sleep well scheming people.

Go to sgdebtbuster or ccs where they have genuine plan with signed m.o.u with the authority and government.

 

[jameslys]

Did anyone refinance their UOB DCP loan to another bank? What is the process? Since UOB is sending loan advice every month, can that be used as settlement notice? Or have to request the bank for settlement notice? How to request for settlement notice and how long will it take to process? Thanks.

 

[Jojodespo]

Hey all! I am back!! I finally managed to get my account back....

I lost all my previous PM’s so if anyone was expecting an answer from me, pls PM me again.. haha..

I can help with:
1. Advice on getting a reno loan when you are on DCP..
2. Offering advice for those that are in desperate need and looking for advice on how to go about choosing the right plans..
3. DCP advice

Take care everyone!!!

 

[meikitenga]

Any bro/sis on DCP for MB/SCB can help with this query pls?

Plz helpzzzzzzzzzzz

 

[mykindacozy]

Debt Consolidation Loan and Unsecured CC

Plz helpzzzzzzzzzzz

 

[goenitz33]

Did anyone refinance their UOB DCP loan to another bank? What is the process? Since UOB is sending loan advice every month, can that be used as settlement notice? Or have to request the bank for settlement notice? How to request for settlement notice and how long will it take to process? Thanks.

Wondering on this too as SC have a good interest rate now and got promo
That will cover the refinancing penalty

 

[Ryka88Chin]

Hi, just my 2 senses word, that I have been through, I went to all of them but eventually end up with Sg debtbuster becos sgdebtbuster genuinely are here to help with real professional 1 to 1 private counseling. They have real debt repayment plan with the bank like ccs credit counseling of Singapore.

I went to edudebt and debtaid they are so pushy and their only plan is bankruptcy. My wife fall to their pushy plan filed for DRS and end up bankrupt. And edudebt open up tons of debt company all belongs to edudebt their so call educator are like mlm seller.

If you sees a debt company address that is at woodland . Then it is sure by edudebt, they are not here to help consumers but to built an mlm business. I hope min law or the authority will do something. They even ask my wife to borrow more money in order to hit the bankruptcy 15k ceiling and to pay their high fees.

And noted my wife after being made bankrupt the so call edudebt debt educator don’t even pick up call. That keep providing empty promises and push people to bankrupt, I don’t think that’s ethical. How could the edudebt educator sleep well scheming people.

Go to sgdebtbuster or ccs where they have genuine plan with signed m.o.u with the authority and government.

Hello Jumpstart22888 I have to disagree...I engaged DebtAid and they are a company on its own a Pte Ltd company which is not affliated with Edudebt. They are also not at all under Edudebt list of many affliates I saw on FB. How I know this its because I too went to Edudebt first but find their presentation too pushy. Hence I seek 2nd opinion through DebtAid from my friend recommendation and their consultants was not pushy at all.

Jay & Raz was very detailed and I’m very happy to be getting advise from them. I was advise to go for the DRS route not bankruptcy but of cause firstly must self petition for bankruptcy which I did individually not in a bug group which I like very much because DebtAid takes care of my privacy.

I also had one-on-one counselling with DebtAid leh...In fact my Case is still ongoing with DebtAid assistance filing for DRS all done. Well honestly it has been a breeze...their team very detailed & non-stop following up on my case. I like leh, to me very good already.

So I guess your Experience with Edudebt (Not DebtAid) was bad but really I am glad I picked DebtAid to assist me & DebtAid fees also lower than what Edudebt charges me leh. So really I think up to individual right...DebtAid not pushy & never ask me to take up more loans. In fact they ask me what amount am I comfortable paying. Really cannot compare my experience with yours, mine good with DebtAid. Well just sharing my experience...

Im sorry to hear what what your wife went through but thats her experience but for someone like me, Im satisfied with DebtAid service.

 

[Ryka88Chin]

Anyone heard of Revive by Edudebt? Is it reliable?

Hi I recommend DebtAid because I did not have a good experience with Edudebt. Edudebt have many sub groups to what I know so Revive is one of them. DebtAid is Pte Ltd company on its on, you can look for Raz or Jay.

Best is to enquire first then you can have your own opinion. My experience was Edudebt was pushy but DebtAid was not. So it is really your preference & experience

 

[Ryka88Chin]

Hi all,

I am in about 80k in debts and I chanced upon edudebt,

I really need to hear from any bros here, any feedback on them.

They seems legit but i am really unsure how they can mediate such big discount for debt consolidation.

Anyone tried them so far?

Hi, from
My experience Edudebt is a company legit one but I did not get help from them as I don’t have a good experience with them. I went to DebtAid instead and my case still ongoing so far so good. You can google DebtAid website to enquire, look for Raz.

I want to go for DCP but I have licensed ML so DCP is not an option for me. DebtAid advise me DRS Scheme to consolidate my bank debts and licensed ML.
No harm enquiring them.

 

[Ryka88Chin]

Am considering to take up Dmp or Dcp. Currently am in debt of 40k with 7 different banks and my monthly repayment is 1.8k. My gross salary is around 3.2k but the rest of the money need to pay for my vehicle loan, my petrol, Hp bills, and have outstanding debt of 2.1k with LHL. My ** ratings now is HH so am doubtful if the banks would accept my DCP. Just got married last two months, I don’t know how to even start a conversation with my wife about this. Can I consider going to CCS talk and apply for dmp? Or any good advise for me. Am stressed out right now

You can consider CCS for DMP and also Debt Repayment Scheme which I took up because I am not eligible for DCP or DMP. This is all because I have licensed ML loans to settle. I got a 3rd party to assist and guide me (DebtAid).

Can try enquire CCS or DebtAid, anyway don’t stress sure got way out.

 

[Ryka88Chin]

I am not eligible for DRS as my total loan amount is 120k sgd. So i am grateful that my DCP was accepted. If you can, get DRS, because it does not involve additional interest like DCP.

My Consultant say now can ya take up DRS leh for total loan amount of $100K-$250K. This one because Gov just launch temporary relief measure during this Covid. Not too late for you to enquire for DRS.

Just sharing because I also take up DRS.

 

[Ryka88Chin]

https://edudebt.sg/

Anybody try this before ?

I did but it didn’t work out for me due to my personal experience I had with them.
I went to seek 2nd opinion similar to Edudebt. My DRS case still ongoing, so far has been smooth with assistance by DebtAid. You can enquire https://debtaid.sg/

 

[Ryka88Chin]

Abt $80k credit rating HH. Anyway received news that my DRS proposal alr been accepted! Overall only need to settle Abt $65k. !!

Wah great news. I also applied for DRS hopefully will turn out great as well.

 

[Ryka88Chin]

Not working in bank but also not far off from such industry. They took me to court to get me to pay monthly. After paying monthly for 4 years, i owe $17000 more.

I honestly dunno what to do already

Bank repayment sure have high interest that is why you end up owing more to them.

 

[Ryka88Chin]

I went for consultation. My case can only declare bankruptcy which i don't want. I will try for DCP first. Thanks anyway for sharing.

Why leh you have to declare bankruptcy, you not eligible for DRS?
Can seek 2nd opinion from the company who assisted me with DRS, it is pte ltd.
You should consider leh... this is the link for their web https://debtaid.sg/

You look for my Consultant Raz

 

[Ryka88Chin]

Need some advice on this. As a result of overspending and gambling, I've racked up almost 300K worth of credit card and unsecured debts. My monthly salary is just above the $10k mark. I've asked several banks before for any kind of DCP I can do with them... all rejected.

My rating is (I think DD), I don't pay on time, and mostly minimum. It's just that I can't even pay minimum EVEN with the salary I take home. I guess it's my fault for letting the matter spiral out of hand.

I'm only now beginning to get legal letter of demands, and having my facilities frozen.... and am beginning to realize that I cannot go on with this....

I've begun talking to some of the banks I owe money to, but all of them were not willing to come to an arrangement.

Any advise or pointers is really appreciated.

Thanks.

Hi, how has it been for you? managed to get solutions to your situation since DCP all reject. Can share with about $300K or more how can anyone dissolve their debts.

 

[seeklightsoon]

https://www.mas.gov.sg/news/media-r...ry-provide-additional-support-for-individuals

Extend Loan Tenure of Existing Debt Consolidation Plans (DCPs)

Eligible individuals on DCPs who are affected by COVID-19 may apply to their respective bank to extend the loan tenure of their existing DCPs for up to 5 years. This will help them lower their monthly instalment repayments.

Borrowers who are on DCP can apply to extend the loan tenure of their existing DCP for up to 5 years, anytime from 18 May 2020 to 31 Dec 2020.

The extension of loan tenure will not cause the loan to be reflected as a restructured loan in the borrowers’ credit bureau report.

Eligibility

• Opt-in basis, for borrowers who are impacted by COVID-19 (impact on income required) and whose repayments are between 30 and 90 days past due at the point of application.
• Granted expeditiously in response to borrowers’ request for deferment.

Customer Education

Borrowers will be given illustrations of:

• the monthly repayment amount before and after the tenure extension; and
• the total interest payable by borrowers over the entire loan tenure before and after the tenure extension.

 

[CK12345]

Hi imonkey,

I have been experiencing the same issue too.

I fully settled my DCP account with UOB in Nov 18.

Since then, whichever loan facilities that I applied for (credit cards, overdraft) gets rejected immediately which have left me confused.

Have tried all the banks and the outcomes are all the same.
I thought it might be my CC rating that is bad but I did a check and it's still at AA with 2000 score.

I emailed to UOB to seek clarifications on this but they did not reply me at all.

Hope that someone can enlighten me on this too.

Bro is this true? After 1.5 years with AA rating and still get rejected. That sucks. I guess have to wait for 3 years till after DCP is removed from CBS report before applying.

 

[CK12345]

Any bro/sis on DCP for MB/SCB can help with this query pls?

Mine showed Debt Consolidation Loan. I think it should be the same regardless of whichever bank you use?