Debt consolidation Plan

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Louis81

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KKK1978 said:
u check on those credit accounts? Meaning BOC never call to tell you its approved?

I wonder those not approved will they notify?
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Processing dept after approval will process to block the cards. Loans on credit card will have some movement. When I saw that I email my sales person and tell him that dcp is approved pse confirmed my total loan n instalment
 
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KKK1978

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Louis81 said:
Income will be NOA. Amount divid 12 is monthly.
For cedit cards, the latest statement outstanding will be the amount.
For loan taken out of credit cards, u nd to call bank and ask if now i close early payment what will be the amount including fees and charges.
Add the above 2 together will be your total amount of unsecured.
Unsecured above NOA is meet 12.
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Thanks, then what is consider a good debt to income ratio?
Pardon me for asking so many qns.

really very stress lately
 
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KKK1978

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Louis81 said:
Processing dept after approval will process to block the cards. Loans on credit card will have some movement. When I saw that I email my sales person and tell him that dcp is approved pse confirmed my total loan n instalment
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thanks, so it is still based on wait and see kind of situations...:(
 
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melbourne10

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KKK1978 said:
Thanks, then what is consider a good debt to income ratio?
Pardon me for asking so many qns.

really very stress lately
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Must be 18x and below of monthly income cuz of the new MAS rules that will kick in soon. Must be more than 12x cuz of the DCP criteria. Some banks auto reject if > 16 months. Safe zone seems to be > 12 and < 16.

For rating, EE seems to be ok for BOC, eg Louis. I have FF but Citi accepted, either cuz it's only a few points away from EE, cuz I have no other loans except unsecured, cuz I have a good record with them, or any combination of the above, or even some factors that are not made public.
 
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Louis81

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melbourne10 said:
Must be 18x and below of monthly income cuz of the new MAS rules that will kick in soon

Must be more than 12x cuz of the DCP criteria

Some banks auto reject if > 16 months

Safe zone seems to be > 12 and < 16

For rating, EE seems to be ok for HSBC, eg Louis.

I have FF but Citi accepted, either cuz it's only a few points away from EE, cuz I have no other loans except unsecured, cuz I have a good record with them, or any combination of the above, or even some factors that are not made public.
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Bro, my is BOC not HSBC. 82800 vs 86700. EE. 6 years. 86700 is without buffer yet.
 
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KKK1978

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Louis81 said:
Honestly speaking the sales nv advise me anything cos I know what to do and how to check.
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same here.. the sales agent after I submitted.. MIA... email and call also no use....

Guess, I have no chance liao.... once BOC rejected, think what is next to try...
 
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Louis81

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KKK1978 said:
same here.. the sales agent after I submitted.. MIA... email and call also no use....

Guess, I have no chance liao.... once BOC rejected, think what is next to try...
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I guess BOC n CITI got higher approval rates. The rest like ocbc, uob, dbs can forget it.
 
goenitz33

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melbourne10 said:
Must be 18x and below of monthly income cuz of the new MAS rules that will kick in soon. Must be more than 12x cuz of the DCP criteria. Some banks auto reject if > 16 months. Safe zone seems to be > 12 and < 16.

For rating, EE seems to be ok for BOC, eg Louis. I have FF but Citi accepted, either cuz it's only a few points away from EE, cuz I have no other loans except unsecured, cuz I have a good record with them, or any combination of the above, or even some factors that are not made public.
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Bro above only applies for Citibank.

Citibank accepts below 18X and best if 12X - 16X.

the current MAS Ruling on the credit limit below 18X is not the factor for this. :s13:
 
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melbourne10

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goenitz33 said:
Bro above only applies for Citibank.

Citibank accepts below 18X and best if 12X - 16X.

the current MAS Ruling on the credit limit below 18X is not the factor for this. :s13:
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That is a theory thrown around by some friends of mine, might or might not be. No one knows their criteria for sure one.
 
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melbourne10 said:
That is a theory thrown around by some friends of mine, might or might not be. No one knows their criteria for sure one.
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yeah but because got alot of other factors also.

whether there are other loans being serviced and such.
 
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melbourne10

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goenitz33 said:
yeah but because got alot of other factors also.

whether there are other loans being serviced and such.
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Commercial loans, they will never make it clear why anything is accepted or rejected one haha.

Anyway have a good Friday guys. Darn hot on site now.
 
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