Debt consolidation Plan - Part 2

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Jojodespo

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You mean you don’t have a debit card? That’s the best card to get. Linked to bank account means better tracking of expenses. :)

Apply now and it will arrive in 5 days. Debit card doesn’t have annual fees too and you can apply all banks as Long as you have a savings account with them.

Stressfulpie18 said:
I hv cash to pay. But online booking need cc. I think I go apply debit card n link to my saving acct.
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Jojodespo

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We will never know. But I believe those reputable ones will not do such things,

nonpareil said:
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.
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Toiletazwc

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Jojodespo said:
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!
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Once the new mas law 12x kick in, I dont think I'm able to get a personal loan from the banks anymore, just wanna check if those licence money lender, if you take a loan with them, will it be counted into the outstanding credit in the credit report anot.
 
hclee01

hclee01

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Toiletazwc said:
Once the new mas law 12x kick in, I dont think I'm able to get a personal loan from the banks anymore, just wanna check if those licence money lender, if you take a loan with them, will it be counted into the outstanding credit in the credit report anot.
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Nope. the licensed money lender loan will not appear in your CBS report and hence will not count into the outstanding credit report.

Licensed moneylenders loan will appear in the MLCB report instead:
https://www.mlcb.com.sg/Borrowers/BuyMyCreditReport.aspx
 
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Toiletazwc

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Jojodespo said:
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!
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I already have 2 personal loan, 1 with 3 more years and 1 with 9 more months. Once the new 12x law kick in june in afew more days, dont think any of the bank would approve my loan as I'm already at 10x my salary in debt.
 
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Stressfulpie18

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Just to check. I received my official letter frm. Dbs dcp. The amt is 57k but I went to log in my dbs acct I saw a dcp loan of 69k. Why is there a big diff?
 
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StormySkiesNRainbows

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Stressfulpie18 said:
Means what...
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Maybe miscalculation or possibly if you have unsecured credit with DBS, your CSO might have seen some amount not added in the principal amount that was missed during the application. Best check with the CSO.

Example. one of my card had 4 interest free instalments which had a $100 penalty for early settlement each, I ended up having to top up another $400 which wasn't factored in.
 
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Stressfulpie18

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StormySkiesNRainbows said:
Maybe miscalculation or possibly if you have unsecured credit with DBS, your CSO might have seen some amount not added in the principal amount that was missed during the application. Best check with the CSO.

Example. one of my card had 4 interest free instalments which had a $100 penalty for early settlement each, I ended up having to top up another $400 which wasn't factored in.
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Monthly I hv to pay is around $1155 for 60mths which add up to be 69k. The diff of 10k is it interest and other misc fee over that 60mths?
 
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Stressfulpie18

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Yest I call 1 of my bank. They say my CC n person loan is suspended but funds hv not paid to the bank yet. Then I ask abt my suspended cc if I let it suspended can I waive off annual fee. The cso say depend on approval. If I cancel it will be hard for me to reapply a cc rite....but I think most likely I will cancel it. Use debit.
 
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Stressfulpie18

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Applewee said:
Actually you should feel very lucky that you manage to get DCP to solve the problem... I still can’t didn’t manage to do anything
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Try again... Like others say.. Try other bank. I didn't got approved for the 1st time n I am so stress up... I email to my cso tha I got rejected. The nxt day she call me n told me she hv send out for 2nd review and ask me to ignore the letter. She mention even with AA also will get reject for some reason. I really thanks my cso for helping me... If she didn't send for review... I think I still stuck n stress. I guess she know where we applicants are coming from. And she try to help me. Rite after I got approval I email hsbc to cancel my dcp application.

I am just lucky that I got dbs dcp which have the lowest approval rate.
 
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