Debt consolidation Plan

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melbourne10

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Centralcoast said:
But how do u claim back excess amount if you don't cancel the cards ? That's very tricky as u can't use the card also so let the excess amount sit there for a few yrs?
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OCBC, ANZ said can give back and leave the account suspended. I still haven't gotten around to calling all the banks yet.
 
goenitz33

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Just got another call from the officer from Maybank.

Processing starts tomorrow and approval/rejection latest by next week.

Thats fast xD

HSBC is so slow -.- and always no sound think can just leave it to rot.
 
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melbourne10

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goenitz33 said:
Just got another call from the officer from Maybank.

Processing starts tomorrow and approval/rejection latest by next week.

Thats fast xD

HSBC is so slow -.- and always no sound think can just leave it to rot.
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My HSBC was dead in the water that's why I decided heck, just apply Citi. Lucky gamble.
 
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Carlingford

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Wah..If I get the chance for DCP...Just cancel everything lah...See ghost once still not scared of dark ah ?

melbourne10 said:
If you want to keep the cards so you can use them again after the DCP amount drops to below 8x, then don't cancel and leave them suspended.

No guarantee they will give you a new credit card again after you cancel as the DCP status stays on CBS for 3 years. Cuz approval for new CC has strict criteria.

Suspended accounts on the other hand can be unsuspended with fresh income documents (in theory). Also depending on how much u have left, 8x or 4x.
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Carlingford

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Yeah. Mine also. Submitted yesterday..My HSBC gone case liao..Even the sales agent also MIA

goenitz33 said:
Just got another call from the officer from Maybank.

Processing starts tomorrow and approval/rejection latest by next week.

Thats fast xD

HSBC is so slow -.- and always no sound think can just leave it to rot.
Click to expand...
 
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ckjoe03

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goenitz33 said:
just had a good long chat with the maybank officer who is assisting on the approval.

some brief points to note.

DTI ratio is not the most important thing.

as expected more importantly they look at how affordable the payment is to your wages after taking into account the other commitment you have.

So basically the approval will also be more importantly on how much you are left with after paying all your commitment plus the loan.

he did not specify a % though 30% is about maximum recommended.

Short/Long tenor is actually based on your income also.

He did say higher income will be recommended to take shorter tenures and lower income will be recommended to take longer tenures.

Submitted my application with Maybank today and overall this is a great guy with good customer service.
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Just want to give hope to all those guys applying for Maybank as mine got approved a couple of days back. i will like to second on MB good cust service as i was serve by this gentleman call KY in short and all those mention above are true. Fast and prompt update and all within 2 weeks.

i was rejected by HSBC before after which i tried MB. Details of my application is as below:

Credit rating: HH
Loan amount: 120k+
Tenor: 7 years
DTI: 18x
Impt: No secured loans on my end, only unsecured
 
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Carlingford

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Hope I can get approval from MBB...

ckjoe03 said:
Just want to give hope to all those guys applying for Maybank as mine got approved a couple of days back. i will like to second on MB good cust service as i was serve by this gentleman call KY in short and all those mention above are true. Fast and prompt update and all within 2 weeks.

i was rejected by HSBC before after which i tried MB. Details of my application is as below:

Credit rating: HH
Loan amount: 120k+
Tenor: 7 years
DTI: 18x
Impt: No secured loans on my end, only unsecured
Click to expand...
 
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melbourne10

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Just spent my lunch break calling up the various banks.

Long story short - closed the accounts that can be closed, and cashier's orders are on the way. Some accounts cannot be closed yet and I have to call back next month.

The excess balance coming back via cashier's orders will be enough to pay off the first installment due to Citi.

#tahan #newlife
 
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Centralcoast

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melbourne10 said:
Just spent my lunch break calling up the various banks.

Long story short - closed the accounts that can be closed, and cashier's orders are on the way. Some accounts cannot be closed yet and I have to call back next month.

The excess balance coming back via cashier's orders will be enough to pay off the first installment due to Citi.

#tahan #newlife
Click to expand...

Why some cannot closed yet?
 
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melbourne10

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Centralcoast said:
Why some cannot closed yet?
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Need to generate new statements. The finance charges (interest) will be taken out of the excess before they send the excess to you.

So some banks can advise the finance charge on the spot but some have to wait for the statement.

Nvm, I got the bulk of it alrdy. Nice nice one month of installment to Citi.
 
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Centralcoast

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melbourne10 said:
Need to generate new statements. The finance charges (interest) will be taken out of the excess before they send the excess to you.

So some banks can advise the finance charge on the spot but some have to wait for the statement.

Nvm, I got the bulk of it alrdy. Nice nice one month of installment to Citi.
Click to expand...

Oic, just check my credit line still not suspended yet
 
goenitz33

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ckjoe03 said:
Just want to give hope to all those guys applying for Maybank as mine got approved a couple of days back. i will like to second on MB good cust service as i was serve by this gentleman call KY in short and all those mention above are true. Fast and prompt update and all within 2 weeks.

i was rejected by HSBC before after which i tried MB. Details of my application is as below:

Credit rating: HH
Loan amount: 120k+
Tenor: 7 years
DTI: 18x
Impt: No secured loans on my end, only unsecured
Click to expand...

i think we got the same officer :s13:
 
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