Debt consolidation Plan

[melbourne10]

No unsecured till u finish the DMP, and then banks may be reluctant to issue new unsecured facilities.

Remember that DMP is a very very low interest hence you are less interesting to them compared to a 26% interest customer

 

[melbourne10]

From this thread, we have seen several successful attempts from Citi, HSBC, UOB, BOC and Maybank.

Haven't heard of any from SCB yet (might have missed it)... Think there's a couple from DBS (but interest rate is siao)... None from oCBc.

 

[ixotet]

May I know what docs did you prepare? I am thinking of the 12 April talk

How can I read more info on the CCS- DMP? Is there a link or website on the details? Thanks for sharing

 

[ixotet]

In actual fact, no really 14 banks...

OCBC
Uob
HSBC
DBS
BOC
Citibank
Maybank
SC
CIMB - Must be existing customer
ANZ - Not offering, bought by DBS
RHB - not offering
Diners Club - Not offering
AMEX - only 2 years
ICBC - not offering

That leaves only at most 8-10 banks to try

Thanks for the info. Really Helps a lot.

 

[melbourne10]

http://www.ccs.org.sg/services/page/debt-management-programme

And real life account

https://unhypemydebts.wordpress.com/

 

[melbourne10]

The info on https://unhypemydebts.wordpress.com/ is a bit dated

Seems like the process is more streamlined now

SG individual debt levels are rly crazy at the moment, for there to be so many debt reduction methods in place

 

[endorphin]

From this thread, we have seen several successful attempts from Citi, HSBC, UOB, BOC and Maybank.

Haven't heard of any from SCB yet (might have missed it)... Think there's a couple from DBS (but interest rate is siao)... None from oCBc.

Hope I will be the first approved one from ocbc

 

[melbourne10]

Haha, I rly dislike that bank with a ** in its name...

 

[ixotet]

Sorry can I check any HH that got a approval?
Can advise which bank??

Last month my ** rating was HH becasue late payment and overdue amount. Citibank rejected. I called UOB they say ask me to come back when my ratings improved to GG.

I was only 3 marks less from GG.

Hopefully this month rating will improve. I haven't check yet. No late payment as of now.

 

[melbourne10]

Last month my ** rating was HH becasue late payment and overdue amount. Citibank rejected. I called UOB they say ask me to come back when my ratings improved to GG.

I was only 3 marks less from GG.

Hopefully this month rating will improve. I haven't check yet. No late payment as of now.

U want to try DMP?

 

[Myst84]

Can any kind soul please tell me what number to reach HSBC to ask status of dcp? Thanks in advance!

 

[melbourne10]

HSBC 6499 4855

 

[Centralcoast]

From this thread, we have seen several successful attempts from Citi, HSBC, UOB, BOC and Maybank.

Haven't heard of any from SCB yet (might have missed it)... Think there's a couple from DBS (but interest rate is siao)... None from oCBc.

Not much people would choose ocbc as they offer only 8 yrs tenure. Many plan to get it clear within 5 to 6 yrs

 

[ixotet]

U want to try DMP?

Hmmm DMP 100% approval? I think I will try the DCP first. If all reject then I will try DMP or DRS.

 

[melbourne10]

Hmmm DMP 100% approval? I think I will try the DCP first. If all reject then I will try DMP or DRS.

Nothing is 100%, even DRS is not. But DMP higher chance of getting compared to DCP.

The impt thing for DMP is to prove that you are having trouble meeting minimum sum payments and also daily expenses. If it's clear cut, then higher chance.

If daily expenses are lavish, CCS will ask you to cut down spending but may not help you with DMP. If daily expenses are alrdy basic but you still cannot meet the min sum, CCS should be able to help you get the DMP.

 

[melbourne10]

You cannot "try" DRS. You have to apply for bankruptcy then if debts are below $100k, they will put you under DRS.

DMP is meant to help you avoid DRS.

 

[Centralcoast]

My ocbc credit card account suddenly gone from ibanking. What happens if they closed it off and hsbc make payments to the credit card?Based on statements submitted, I do have some outstanding balance but have paid off some and some were offset with cash rebates.

 

[melbourne10]

My ocbc credit card account suddenly gone from ibanking. What happens if they closed it off and hsbc make payments to the credit card?Based on statements submitted, I do have some outstanding balance but have paid off some and some were offset with cash rebates.

Same here. Call in ask for card to be cancelled and for excess (less finance charges eg interest) to be sent back via cashier's order.

 

[Centralcoast]

Same here. Call in ask for card to be cancelled and for excess (less finance charges eg interest) to be sent back via cashier's order.

I meant my credit card already closed off before hsbc pays lol becos it took so long to get approved so I have paid the card before due date and remaining balance were offset with cash rebates from balance transfer.

 

[Carlingford]

Thank you so much Vanilla. Today is my CCS talk. I have prepared all the necessary documents.

All the best bro !