Debt consolidation Plan - Part 2

[money88]

I’m afraid there is no way unless you use the applying for renovation loan route.

renovation loan need to have proof that your house doing reno right? dont think ID firm will just lend the money if no reno

 

[money88]

Oh... that is the reason.. In that case it’s abit hard to fight for your case.. best to borrow from family. Or maybe try TCC?

TCC need to have credit report so not too sure if DCP and DMP can borrow.
Any one try TCC before??

 

[seeklightsoon]

I wanted to seek for solution on my own and not "disturb" my family members. Some can call it ego. but another reason is my family members are also not financially well off.
='(

Maybe you want to try the DMP route for CCS to compute your payment that you are comfortable with, over a longer period of time?

 

[Jojodespo]

Yes, need to have a house under your name

renovation loan need to have proof that your house doing reno right? dont think ID firm will just lend the money if no reno

 

[StressedLoner]

Maybe you want to try the DMP route for CCS to compute your payment that you are comfortable with, over a longer period of time?

Where can I start?
And is there anyone successfully settled debt and nw debt free?

 

[Happy4]

U gotta book for a free counselling session first. Attend the session then rem to get the blue form to input your monthly budget and submit back to CCS. Then wait for a 1-1 counselling session which will be 4 weeks. There is a thread on DMP u can go read up more. Interest will be about 3-4% p.a. Go sign up for the session first.

Where can I start?
And is there anyone successfully settled debt and nw debt free?

HardwareZone Forums app

 

[seeklightsoon]

Where can I start?
And is there anyone successfully settled debt and nw debt free?

Suggest that you read this forum as it has wealth of information on the process and some of the experiences that people have gone through, including those that have been debt free. All the best!

https://forums.hardwarezone.com.sg/...credit-counselling-singapore-ccs-5821687.html

 

[money88]

any one try lending bee before ?

https://www.lendingbee.com.sg/

It is the new business model like credit culture for lml

 

[chris_83]

We people are in debt and we realise our mistake and we are really sincerely to pay our debt by getting a dcp. But it very sad n disappointed when we don't get approved. Everyday is nerve breakdown. We suppose to go holi in June and tix is booked n paid. And cannot be refund. Can I call n tell the SQ tha due to financial issue we can't go can I still negotiate for some refund back?

I cancelled my sq flights to hanoi due to bonus month changed and no money left to go. Due to it was promo fare, i managed to get back airport tax only. Hotel managed to get full refund and tour trips 80% refund.

 

[chris_83]

Abit side track. I have make a booking on agoda for hotel on the "pay later" choice. Since my dcp just got approved. My CC will be suspended rite. Then my booking will not go thru is it. The paying date for hotel is on the 9th June. While I am waiting for my new cc from dbs. How do I re book hotel. Should I cancel my booking now n rebook when I received the new card from dbs or...

I won't have any cc with me when I go travel that what I worry. Cos current 1 will be suspended and new 1 don't kW when come and I m traveling in mid June.

I also chose pay later for my osaka hotel via agoda. I called them to change to different credit card for payment, yes it can be done, but the payment will be immediately need to pay with the second credit card.no more pay later.

 

[Stressfulpie18]

I just received sms frm. Hsbc that my credit facility is suspended due to dcp. What should I do next.

 

[Jojodespo]

You should wait for your DCP approved bank to pay off all your outstanding for all the other banks and facilities.

Then you 1 by 1 call each bank, to ask for late fee waiver, interest waiver, early termination etc. A few days after they process your waivers and fees, call the banks again to request for cashiers order to take back all the balance left in the accounts, then suspend your cards, close your cash line accounts etc.

Wait for your approval letter which will tell you how to pay your DCP bills, then start paying next month.

I just received sms frm. Hsbc that my credit facility is suspended due to dcp. What should I do next.

 

[Stressfulpie18]

You should wait for your DCP approved bank to pay off all your outstanding for all the other banks and facilities.

Then you 1 by 1 call each bank, to ask for late fee waiver, interest waiver, early termination etc. A few days after they process your waivers and fees, call the banks again to request for cashiers order to take back all the balance left in the accounts, then suspend your cards, close your cash line accounts etc.

Wait for your approval letter which will tell you how to pay your DCP bills, then start paying next month.

OK thank. I still waiting for ocbc n uob n dbs... To close.

 

[nonpareil]

Hi, just wondering, could a licensed moneylender use my info eg. copies of IC, CPF statement and IRAS document for anything fraudulent?

Thing is, I went to enquired on a loan, filled out their form and gave them the above said documents. I backed out of it due to their interest being high. Also striked off important info on the application form but I did sign on the form.

Just worried they might do something dodgy.

 

[Stressfulpie18]

I try to pay something using cc but it got declined. My I check online the card is still there. Could it be my CC got suspended but not showing online yet? Without a cc now... How do I pay online?

 

[Jojodespo]

After your DCP is approved, all your credit cards will be suspended, and the approving bank will give you a 1 month salary credit limit on your new card (which you should cut up and throw away).

You can apply for debit cards and still use them for online purchases.

I try to pay something using cc but it got declined. My I check online the card is still there. Could it be my CC got suspended but not showing online yet? Without a cc now... How do I pay online?

 

[Toiletazwc]

Hello guys, does anyone know if legal money lending would affect the dcp? Heard from one of my friend that some banks such as uob and ocbc are very strict towards even legal money lender. I'm currently 4k to 5k short to apply for dcp. Earning roughly 3 to 3.2 depending on shift allowance, any other good suggestion as Mas law of 12x your outstanding credit facility will kick in soon. My credit report is CC though, tried to applied HSBC dcp and she say that I didn't now hit my 12x so she didn't not follow through as it would affect my scoring.

 

[WorryChap]

Seem like you are very "stressful" regarding this trip.
Might as well cancel this trip, save some money since you are just having $800 every mth with kids....go this trip oso won't enjoy since keep stressful...

I try to pay something using cc but it got declined. My I check online the card is still there. Could it be my CC got suspended but not showing online yet? Without a cc now... How do I pay online?

 

[Jojodespo]

You can try to take a risky balance transfer or loan.. to get you above the 12x, then apply for a DCP.

But like we said here before, it is a risk to take that does not guarantee approvals.

On the other hand, CC is quite good rating tho!

Hello guys, does anyone know if legal money lending would affect the dcp? Heard from one of my friend that some banks such as uob and ocbc are very strict towards even legal money lender. I'm currently 4k to 5k short to apply for dcp. Earning roughly 3 to 3.2 depending on shift allowance, any other good suggestion as Mas law of 12x your outstanding credit facility will kick in soon. My credit report is CC though, tried to applied HSBC dcp and she say that I didn't now hit my 12x so she didn't not follow through as it would affect my scoring.

 

[Stressfulpie18]

Seem like you are very "stressful" regarding this trip.
Might as well cancel this trip, save some money since you are just having $800 every mth with kids....go this trip oso won't enjoy since keep stressful...

I hv cash to pay. But online booking need cc. I think I go apply debit card n link to my saving acct.