Debt consolidation Plan - Part 2

[StormySkiesNRainbows]

Light at the end of the tunnel, tried using my card for petrol today but card was blocked. Called SCB and they say it was because of MAS 12X and most banks would block your cards till you update your NOA. Downtrodden, I decided to call UOB to check on status because I did not receive any SMS on DCP approval. I had to asked the CSO thrice, because I couldn't believe she say it was approved the first time.

This forum has been super useful and comforting during my DCP journey, lost 17kg over the last 8 weeks because super moody and mood affected my appetite.

Chances are greatly increased when BTI is below 18x with the 5% buffer. So to those seeking DCP, all the best and will keep you all in prayers.

 

[Jojodespo]

Congrats bro!!!

Light at the end of the tunnel, tried using my card for petrol today but card was blocked. Called SCB and they say it was because of MAS 12X and most banks would block your cards till you update your NOA. Downtrodden, I decided to call UOB to check on status because I did not receive any SMS on DCP approval. I had to asked the CSO thrice, because I couldn't believe she say it was approved the first time.

This forum has been super useful and comforting during my DCP journey, lost 17kg over the last 8 weeks because super moody and mood affected my appetite.

Chances are greatly increased when BTI is below 18x with the 5% buffer. So to those seeking DCP, all the best and will keep you all in prayers.

 

[Jojodespo]

Congrats to you too!!! Wow Citibank is hard to approve haha

Just got approval from Citibank. CBS:BB, BTI x16, NOA:122k
Can give Citibank a try if you are facing problem from other banks.

 

[Applewee]

Wow!!!!! Congrats!!
Can share with me ur CSO contact Ma?

Light at the end of the tunnel, tried using my card for petrol today but card was blocked. Called SCB and they say it was because of MAS 12X and most banks would block your cards till you update your NOA. Downtrodden, I decided to call UOB to check on status because I did not receive any SMS on DCP approval. I had to asked the CSO thrice, because I couldn't believe she say it was approved the first time.

This forum has been super useful and comforting during my DCP journey, lost 17kg over the last 8 weeks because super moody and mood affected my appetite.

Chances are greatly increased when BTI is below 18x with the 5% buffer. So to those seeking DCP, all the best and will keep you all in prayers.

 

[Applewee]

Bro Jojo!

I have pm you ：）

Congrats bro!!!

 

[terence12]

-Started applied through phone on 22 Apr. Email to CSO my rating report and payslips.
-Email all my statements on 23 Apr.
-Courier came on 24 Apr for me to sign the forms with all the amount stated in one of the forms.
-Rec SMS on changes of contact detail & DP approval on 30 Apr.
-Rec debit card on 3 May.
-Today check banks all paid except 1 cc from UOB.
-Rec sms informed me the loan amount, monthly pay how much and due date as well. Have not receive any offical mail yet.

I am still keeping my fingers crossed on my application

 

[terence12]

Hi all,

Thought of applying to SCB, anyone has CSO to recommend. UOB rejected the first time in April because plus 5% made my BTI too close to 18x. Reapplied last Thursday after reducing my 5% plus BTI to 16x. Previous CSO left, unable to reach the new CSO. Wonder why application takes so long. Rating is GG, no default and also pay on time for the last donkey years. Despite paying in full always with UOB and before due dates but min plus more for all the other banks. UOB adjusted my credit limit downwards based on my 2018 NOA. Resulting in my Cashplus having an OD

U applied HSBC?

 

[StormySkiesNRainbows]

UOB, my payment history with them is good. Full settlement every month before due date. I suspect the first rejection was because my BTI plus 5% buffer were too close to 18X

 

[StormySkiesNRainbows]

Can't PM yet, but generally, both ladies I dealt with in UOB were super helpful and empathetic. Approval or rejection is around 3-5 days, quite fast. All the best with your application.

 

[Applewee]

Bro I have pm u thanks bro

UOB, my payment history with them is good. Full settlement every month before due date. I suspect the first rejection was because my BTI plus 5% buffer were too close to 18X

 

[StormySkiesNRainbows]

Thanks Jojo, I read most of your postings together with the others and it helped during my time of uncertainty. This is a good forum to seek advise and etc. Will do what I can to assist those here. Cheers bro

 

[StormySkiesNRainbows]

Bro I have pm u thanks bro

To be able to send PMs your post count must be 10 or greater.

You currently have 5 posts and you can send PMs to following users only:

"Willl try to clock up 10 posts asap and reply you"

 

[StormySkiesNRainbows]

I am still keeping my fingers crossed on my application

All the best, will say a prayer for you. Cheers

 

[terence12]

All the best, will say a prayer for you. Cheers

BTI means not inclusive of the repayment interest am i right?

 

[terence12]

All the best, will say a prayer for you. Cheers

Thanks alot. I need prayers haha

 

[StormySkiesNRainbows]

BTI means not inclusive of the repayment interest am i right?

It is your total unsecured debt without DCP interest, but with the 5% 'extra' to cover late fees and amount shortfall. So say if your debt is $100K, that amount that is on loan to you would be $105,000. It does not include the interest per annum The closer that is to the 18x, was told it would lower the chance of success, but different banks have different risk calculations.

 

[Shalala-86]

Light at the end of the tunnel, tried using my card for petrol today but card was blocked. Called SCB and they say it was because of MAS 12X and most banks would block your cards till you update your NOA. Downtrodden, I decided to call UOB to check on status because I did not receive any SMS on DCP approval. I had to asked the CSO thrice, because I couldn't believe she say it was approved the first time.

This forum has been super useful and comforting during my DCP journey, lost 17kg over the last 8 weeks because super moody and mood affected my appetite.

Chances are greatly increased when BTI is below 18x with the 5% buffer. So to those seeking DCP, all the best and will keep you all in prayers.

Congrats!!

 

[Shalala-86]

U applied HSBC?

U applied HSBC?
My application was submitted on 03 May.. waiting patiently for the outcome. Everyday so worried and gan chiong over upcoming loan due.
Any idea if HSBC approve or reject, will they sms to inform?

 

[terence12]

It is your total unsecured debt without DCP interest, but with the 5% 'extra' to cover late fees and amount shortfall. So say if your debt is $100K, that amount that is on loan to you would be $105,000. It does not include the interest per annum The closer that is to the 18x, was told it would lower the chance of success, but different banks have different risk calculations.

I see. I was told by HSBC that the amount loan inclusive of the 5% buffer would be $52500. My monthly income is $3360. Hence my BTI is 15.625. Still waiting for the results now.

 

[terence12]

U applied HSBC?
My application was submitted on 03 May.. waiting patiently for the outcome. Everyday so worried and gan chiong over upcoming loan due.
Any idea if HSBC approve or reject, will they sms to inform?

Ya. I also applied HSBC. Previously was rejected by POSB. I also submitted my application on 3rd May through my CSO.
Everyday so gan chiong. Waiting and waiting.