Debt consolidation Plan - Part 2

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Jojodespo

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Congrats!!!!

Stressfulpie18 said:
I got approval from DBS. Like half relief. Mui from dbs help me to send for 2nd review. With the same cbs report of BB rating. Then I send an email to hsbc to cancel my application. It will be my 60mths of hardship frm June onwards. She say it will take 9 working days to clesr my current debt then I hv to call the bank 1 by 1 to see if I have any outstanding or overpaid. I will hv to pay around 1.2k per mth.
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StormySkiesNRainbows

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Stressfulpie18 said:
I got approval from DBS. Like half relief. Mui from dbs help me to send for 2nd review. With the same cbs report of BB rating. Then I send an email to hsbc to cancel my application. It will be my 60mths of hardship frm June onwards. She say it will take 9 working days to clesr my current debt then I hv to call the bank 1 by 1 to see if I have any outstanding or overpaid. I will hv to pay around 1.2k per mth.
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Congrats. Woot woot
 
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Jojodespo

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Hmm. But after your approval, and your monthly DCP payment being 1.2k, and your salary being in the 4.5k to 5k region, your DTI ratio is around 25% instead. :) definitely happy for you!

Stressfulpie18 said:
With 800$ left to spent every mth. With 2 kids. U think enough...how do I save frm these 800
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StormySkiesNRainbows

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Stressfulpie18 said:
With 800$ left to spent every mth. With 2 kids. U think enough...how do I save frm these 800
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Baby steps first, main hurdle crossed. Things can only get better moving forward.

Do look into natural death insurance, for events (Touch Wood) if anything happens, DPS and Natural Death Insurances would be enough to cover your outstanding payments and your debt ends with you. I got that insurance to cover unseen events. This is different from accident policy. Because it covers heart attack and stroke which accident/hospitalisation don't.
 
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Shalala-86

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Stressfulpie18 said:
I got approval from DBS. Like half relief. Mui from dbs help me to send for 2nd review. With the same cbs report of BB rating. Then I send an email to hsbc to cancel my application. It will be my 60mths of hardship frm June onwards. She say it will take 9 working days to clesr my current debt then I hv to call the bank 1 by 1 to see if I have any outstanding or overpaid. I will hv to pay around 1.2k per mth.
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Congrats! Happy for you!!!
 
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Beenthere

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Stressfulpie18 said:
I got approval from DBS. Like half relief. Mui from dbs help me to send for 2nd review. With the same cbs report of BB rating. Then I send an email to hsbc to cancel my application. It will be my 60mths of hardship frm June onwards. She say it will take 9 working days to clesr my current debt then I hv to call the bank 1 by 1 to see if I have any outstanding or overpaid. I will hv to pay around 1.2k per mth.
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That’s great news! Congrats!

How Long did your application take for it to be approved?
 
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Stressfulpie18

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StormySkiesNRainbows said:
Baby steps first, main hurdle crossed. Things can only get better moving forward.

Do look into natural death insurance, for events (Touch Wood) if anything happens, DPS and Natural Death Insurances would be enough to cover your outstanding payments and your debt ends with you. I got that insurance to cover unseen events. This is different from accident policy. Because it covers heart attack and stroke which accident/hospitalisation don't.
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I paying close to 800 for insurance including my 2 kids. I don't hv extra to buy a new policy. But how much it cost n which agent.
 
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StormySkiesNRainbows

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Stressfulpie18 said:
I paying close to 800 for insurance including my 2 kids. I don't hv extra to buy a new policy. But how much it cost n which agent.
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AIA, they have a 20% promotion ends in May. Paid $407 for one year coverage. Which works out to $33.90+ per month. Coverage is $100K. Don’t want to leave my debt for my family to bear.
 
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Sirtic

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Hi can anyone advise which bank has the fastest turnaround and does anyone have any experienced and professional cso to recommend? UOB preferably
 
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StormySkiesNRainbows

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Sirtic said:
Hi can anyone advise which bank has the fastest turnaround and does anyone have any experienced and professional cso to recommend? UOB preferably
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UOB takes only 3-6 working days. Any CSO there would be helpful. Call their main hotline and ask for them to transfer you to the DCP department.
 
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Shalala-86

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Any idea how Long will u receive the official letter and credit card/ debt cards? My dcp was approved on 10 May, official SMS from HsBC was received on 10 May. all Loans have been cleared and I even receive pin for my newly issued card.. but I have not received the official letter and card. Is this normal?
 
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