Debt consolidation Plan - Part 2

[KKK1978]

Anyone knows how credit culture access you? Seems like even before they look at ur credit report, you will be rejected immediately

 

[Shalala-86]

Anyone knows how credit culture access you? Seems like even before they look at ur credit report, you will be rejected immediately

My gues is credit rating.. default %..

 

[iamindebt]

You can submit your application via credit culture online. Base on the the details you have keyed, it will tell u if you are eligible. From what I see, it does have strict requirements as well. No harm trying as u will get to know your application status immediately. There will be a short fall on your total loan vs debt amount if u were to apply from credit culture... Using ur loan from credit culture, pay off some of those high outstanding credit card bill ...subsequently consider apply Term/ personal loan to reduce interest and fix repayment. Need to very discipline here.
There won’t be any penalty imposed if u were to clear ur credit card loan early but there will be charges impose for early redemption of your term loan.

I hope to consolidate all debt repayment into 1 account. I'm looking into DBS personal loan right now. But not sure can get their approval for the loan due to my bad credit score.

 

[iamindebt]

You can submit your application via credit culture online. Base on the the details you have keyed, it will tell u if you are eligible. From what I see, it does have strict requirements as well. No harm trying as u will get to know your application status immediately. There will be a short fall on your total loan vs debt amount if u were to apply from credit culture... Using ur loan from credit culture, pay off some of those high outstanding credit card bill ...subsequently consider apply Term/ personal loan to reduce interest and fix repayment. Need to very discipline here.
There won’t be any penalty imposed if u were to clear ur credit card loan early but there will be charges impose for early redemption of your term loan.

I tried using Credit Culture calculator. Their interest amount is like more than the banks. If I borrow $29k, the total amount inclusive of interest ends up $39k, interest alone is $10k.

 

[o3big]

CS from HSBC or SCB

Anyone has good CS to recommend from HSBC or SCB?
Pls PM me. Appreciate it.

 

[Stressfulpie18]

I call my cso regarding my dcp she say still under processing status. I see in my ** report they went to look into it on 9 May. Till today still under processing. My ** report submit to them was BB n meet the 12mths salary requirement.

Just curious... What are my chances getting reject and what reason it will be rejected.

 

[helpbroinneed]

I call my cso regarding my dcp she say still under processing status. I see in my ** report they went to look into it on 9 May. Till today still under processing. My ** report submit to them was BB n meet the 12mths salary requirement.

Just curious... What are my chances getting reject and what reason it will be rejected.

u apply which bank?

hsbc?

 

[helpbroinneed]

anyone here borrow from moneylender?

 

[StormySkiesNRainbows]

Need help! My CSO just called me and said that their processing team needs my CPF / salary crediting account statement. I am in the borderline range where my total debt is close to 12 times based on salary and <12 times if used CPF. I submitted my payslip based on my basic salary without bonus.
My application got approved last Friday by HSBC.. first disbursements alsrrady made to 1 of the account. My CSO said that she can see a DCP account created in the system. With the request of the cpf statement, will the bank withdraw my application?

I don’t think they would reject at this point. Since DCP is already created

 

[StormySkiesNRainbows]

I call my cso regarding my dcp she say still under processing status. I see in my ** report they went to look into it on 9 May. Till today still under processing. My ** report submit to them was BB n meet the 12mths salary requirement.

Just curious... What are my chances getting reject and what reason it will be rejected.

My CSO did say they expect a surge of applications due to the new MAS ruling. This might be the reason for delay but if you’re using UOB or SCB, approvals are normally less than 6 working days.

Reasons for rejections can be from BTI plus 5% more than 18x or bad payment history or credit exposure too great.

I suspect my initial rejection was due to BTI/5% being too close to 18x, so I paid off a few cards outstanding to bring it below 16x. And that helped

 

[Stressfulpie18]

u apply which bank?

hsbc?

I apply frm dbs.

 

[Stressfulpie18]

My CSO did say they expect a surge of applications due to the new MAS ruling. This might be the reason for delay but if you’re using UOB or SCB, approvals are normally less than 6 working days.

Reasons for rejections can be from BTI plus 5% more than 18x or bad payment history or credit exposure too great.

I suspect my initial rejection was due to BTI/5% being too close to 18x, so I paid off a few cards outstanding to bring it below 16x. And that helped

What is bti?

 

[Applewee]

Wanna check does any one know how much cbs score will drop for
1 fail DCP loan
1 fail car loan
4 self entry check ?

 

[Shalala-86]

I tried using Credit Culture calculator. Their interest amount is like more than the banks. If I borrow $29k, the total amount inclusive of interest ends up $39k, interest alone is $10k.

The interest is better than credit card interest but higher than typical bank loan..

 

[Shalala-86]

I call my cso regarding my dcp she say still under processing status. I see in my ** report they went to look into it on 9 May. Till today still under processing. My ** report submit to them was BB n meet the 12mths salary requirement.

Just curious... What are my chances getting reject and what reason it will be rejected.

For HSBC it took me ard 4-5 days to know the status. Maybe can call tml to check. All the best! You stand a good chance! Stay optimistic!

 

[Shalala-86]

I don’t think they would reject at this point. Since DCP is already created

I told my CSO I’ll furnish my latest 3 cpf contribution end of the month. At least it does not show the surge in my Feb payslip due to bonus. Status as of now, all outstanding have been cleared. Waiting for official letter.

 

[Applewee]

I told my CSO I’ll furnish my latest 3 cpf contribution end of the month. At least it does not show the surge in my Feb payslip due to bonus. Status as of now, all outstanding have been cleared. Waiting for official letter.

So good leh.. I haven start applying after my fail dcp with Maybank ...
He say my BTI below 12x but i have increase to meet BTI le now waiting for cbs report to update... than now worry due to the fail application my cbs scoring will drop

 

[Shalala-86]

What is bti?

Your total debt ratio.. to be qualified for DCP ur current outstanding need to be above 12 times of ur monthly salary..but need to below 18 times.
Aggregate interest-bearing unsecured outstanding. balance ÷ monthly income.

 

[Shalala-86]

anyone here borrow from moneylender?

Try credit culture?

 

[Stressfulpie18]

Your total debt ratio.. to be qualified for DCP ur current outstanding need to be above 12 times of ur monthly salary..but need to below 18 times.
Aggregate interest-bearing unsecured outstanding. balance ÷ monthly income.

Where can I find my bti?