Debt consolidation Plan

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ohsoon

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melbourne10 said:
Can ask for waiver dude. I have banks who waived my most recent month's interest charges. Your mileage may vary.
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After i cleared my credit card for DBS , UOB , OCBC , HSBC,Standard chartered bank outstanding ..My DBS they waive 2 months interest , UOB 3 months, OCBC 1 month interest. Standard chartered 3 months interest. Citibank 1 month and HSBC 2 months.. total debts cleared 45k. Still left 36k. Really need to wait credit bureau to be updated before I apply for DCP. Stressss
 
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melbourne10

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ohsoon said:
After i cleared my credit card for DBS , UOB , OCBC , HSBC,Standard chartered bank outstanding ..My DBS they waive 2 months interest , UOB 3 months, OCBC 1 month interest. Standard chartered 3 months interest. Citibank 1 month and HSBC 2 months.. total debts cleared 45k. Still left 36k. Really need to wait credit bureau to be updated before I apply for DCP. Stressss
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Yup middle of next month. But your loan quantum is quite low so should be ok to try. Can try MBB, BOC, HSBC, Citi.
 
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melbourne10

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Wah getting statements to confirm the principal outstanding for all loans must have been a damn headache...!
 
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ohsoon

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melbourne10 said:
Yup middle of next month. But your loan quantum is quite low so should be ok to try. Can try MBB, BOC, HSBC, Citi.
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Should I wait for credit bureau to be updated? Because now my credit bureau
Show 81k.
My NOA now is only 31k (Deep drop from 5K due to retrench) OS 36K
 
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melbourne10

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ohsoon said:
Should I wait for credit bureau to be updated? Because now my credit bureau
Show 81k.
My NOA now is only 31k (Deep drop from 5K due to retrench) OS 36K
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The banks will refresh and see balances current to one month behind, so April on their end will show March.

Consumer report, April will show Feb cuz ours is two months behind.
 
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melbourne10

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They may be wary as yours is a new job or position after retrenchment, so depends on risk appetite. Generally the foreign banks have larger risk appetite. Ocbc don't bother, they have the smallest.
 
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Taurusmay said:
Hi bro and sis,

Just to share with you my scary experiences. I think some bro remember me when i wrote on this chat group here that i am a AA. My income has dropped due to bad economy and my total debt is 80k+. I hv nv a prblem paying min all this while when after HSBC trying to sell me this DCP. I applied and i was declined by HSBC for my first application. After that they sent me a letter stating my income has dropped and claimed that i hv over limit usage my unsecured credit facilities. For that they request me that either i pay up the over limt or take up their own debt relief plan and my card will be suspended. I hv no choice but to accept their plan and post out their form. This afternoon they call me they did not receive and force me to pay the overlimit sum. I feel so stress up.
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It happened to me as well with Maybank! They reduce my credit limit but I am under RAS, so nothing they can do!
 
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member8

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melbourne10 said:
3 things:
Green form - proof of attendance, must submit if you intend to apply for DMP
White form - self help kit, can be downloaded online
Blue form - this is the impt, MUST take one, the DMP form (take 2 or 3 if they have extra, in case you mess up while filling in)
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Bro, thanks for the advice.
I submitted yesterday my blue form. In view of the current queue, they will call me to fix a counselling appointment in about 4 weeks’ time.
 
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Centralcoast

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melbourne10 said:
Wah getting statements to confirm the principal outstanding for all loans must have been a damn headache...!
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Nope I just use my latest statements will do. Hsbc don't ask u to go through the pain to get the letter stating the principal amount for each loan. But they do include $100 penalty in each loan that's why the loan amount is greater than what I expected.

Luckily I did not submit to citibank first or else I might get myself into the situation as tuarusmay after reviewing my income.
 
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