Debt consolidation Plan

[melbourne10]

Anyway is your credit facilities suspended ?

They will be suspended after the phone call. I didn't try. My citi cards confirm suspended though.

 

[delceer]

Citi just called to confirm that they are starting the process of paying down all the accounts.

They will settle my Citi accounts first then proceed to pay down those from other banks. It will take time though as they process it in tranches.

Looks like I will be getting back some balance so my first repayment is covered at least.

Congratulations. Really can have good night sleep.

Sent from Nokia 8250 using GAGT

 

[deadlockb]

Citi just called to confirm that they are starting the process of paying down all the accounts.

They will settle my Citi accounts first then proceed to pay down those from other banks. It will take time though as they process it in tranches.

Looks like I will be getting back some balance so my first repayment is covered at least.

congrats.Great relief for you.

 

[goenitz33]

Be prepare to wait for at least 2 weeks. Good luck!

standard 7 - 10 working days to process i think

 

[Crazy12]

Most of my accounts are cleared by BOC ... received letter for approval stating loan installments tenure n interest

 

[melbourne10]

Any idea what's the guideline for refinancing?

Must it still be > 12x? Cuz once DCP starts and the first 3 months is up, it might dip below 12x for some.

 

[melbourne10]

Most of my accounts are cleared by BOC ... received letter for approval stating loan installments tenure n interest

Nice one la. This program is quite good, helps you cut the interest from 26% to 10%, and you are actually paying off instead of just servicing minimum sum and the principal doesn't move at all.

 

[Louis81]

Most of my accounts are cleared by BOC ... received letter for approval stating loan installments tenure n interest

Good. So mine will be cleared by next week.

 

[Crazy12]

Nice one la. This program is quite good, helps you cut the interest from 26% to 10%, and you are actually paying off instead of just servicing minimum sum and the principal doesn't move at all.

I think after 3 months if other banks offer better rates, can refinance

 

[melbourne10]

I think after 3 months if other banks offer better rates, can refinance

See how la. Alrdy so hard to get my approval. Don't wanna go through this tedious process again.

Btw my Citi paid off liao.

 

[Lifesotough]

Question for those Bros who got the dcp approved.
Do you guys see any changes in your ** report? Does the DCP goes until the same category of other unsecured loans or a different one?

I'm still very curious why HSBC submitted the dcp application as a joint account

 

[melbourne10]

Not so sure. Mine, under Citi, is "New Application - Single". The HSBC one, "New Application - Joint". Depends on bank ba.

 

[Louis81]

Question for those Bros who got the dcp approved.
Do you guys see any changes in your ** report? Does the DCP goes until the same category of other unsecured loans or a different one?

I'm still very curious why HSBC submitted the dcp application as a joint account

I think yr concern here is joint. No nd to bother abt that. I got a loan also joint

 

[melbourne10]

Jialat man need to adapt to my "new life". Was at Challenger yesterday then instinctively took out my credit card. Then remembered it's suspended. This is my first credit card-less weekend in years.

 

[Louis81]

Jialat man need to adapt to my "new life". Was at Challenger yesterday then instinctively took out my credit card. Then remembered it's suspended. This is my first credit card-less weekend in years.

Haha when my DCP approved, I shred all my credit cards.

 

[melbourne10]

Haha when my DCP approved, I shred all my credit cards.

I cut all liao except my Citi card cuz that is the DCP card.

 

[melbourne10]

Damn ironic cuz few months back they sent a letter saying if I don't use the Citi Rewards card, they will cancel it.

Boom, it's now my main (and only) card -.-"""""

 

[heirenyagao]

It starts when your period of credit limit increase stops and you haven't paid off your increase.

Haven't really tried yet, although I will call them again if HSBC doesn't go through.

May I know how long the overlimit situation lasts? Do they count overlimit period from statement date or the transaction date?
Now still overlimit?

Have you tried to persuade Citibank not to close your accounts?

 

[aang1971]

Jialat man need to adapt to my "new life". Was at Challenger yesterday then instinctively took out my credit card. Then remembered it's suspended. This is my first credit card-less weekend in years.

bro, stop using CC..it is the root of despair and entrapment

do not gamble m in casino or forex or stock etc

use cash and keep cash

be wise

 

[KKK1978]

The thing is I submitted my application to BOC on 8 Mar. was told to wait 5-7 working days.
No news and CSO MIA. I called the customer service hotline on 21st mar and they check the system and they say they cant see anything.
Then on 23rd Mar, I can see a free report by CBS due to BOC went in to check.
The time has been drag for so long. wonder if they missed my applications initially or I have a chance.

Sigh.. waiting is killing