Debt consolidation Plan

[Carlingford]

12% is AIR

Not sure leh..Together with the e mail they attached the illustration...

 

[Iwanttobehappy]

Never but login internet banking nv see got account set up most likely gone case lo rejection letter on the way maybe lol

They called me said need another 7-10 days leh .. I v scare now ..wait they said reject cos my cbs report n statements all past one month already .

 

[Carlingford]

Another 7-10 days ! On a positive note, at least you managed to reach final stage..I reckon mine got binned by BOC probably at the first stage

They called me said need another 7-10 days leh .. I v scare now ..wait they said reject cos my cbs report n statements all past one month already .

 

[Carlingford]

Having said that...Looking at the abysmal approval rates, I will sign up for DBS if it means them giving me the approval...Just that I would have to opt for 8 yrs tenor

12% is AIR

 

[Iwanttobehappy]

Another 7-10 days ! On a positive note, at least you managed to reach final stage..I reckon mine got binned by BOC probably at the first stage

Ah ?? I really dunno leh .. now say need 7-10 days . Yest morning said by yest 5pm . Yest evening said by today as reaching that stage need only 1 day . Now telling me still in processing need 7-10 days ..

 

[Iwanttobehappy]

Never but login internet banking nv see got account set up most likely gone case lo rejection letter on the way maybe lol

U wanna call n try .. I see we same answer mah as we full submitted ard the same time . Can call normal hotline to ask one .. 18001111111. I pressed the option under posb loan assist one ..

 

[sneggg]

U wanna call n try .. I see we same answer mah as we full submitted ard the same time . Can call normal hotline to ask one .. 18001111111. I pressed the option under posb loan assist one ..

Nvm just wait ba btw ur EIR in your forms is 20?

 

[aang1971]

so who got approved for DCP? how long did the bank take to pay off debt? when installment start?

 

[Iwanttobehappy]

Nvm just wait ba btw ur EIR in your forms is 20?

Do update me pls as we both the same n applied the same bank . 17.78% for 8 years

 

[Taurusmay]

I have been reading this thread on DCP lately......cos I also just applied the DCP. The telesales officer told me that DCP is actually for those people who can afford to pay for their multiple unscured credit facilities but prefer to use DCP to just focus on paying to one bank. Looks like the checks on credit rating is pretty stringent.

 

[Iwanttobehappy]

I have been reading this thread on DCP lately......cos I also just applied the DCP. The telesales officer told me that DCP is actually for those people who can afford to pay for their multiple unscured credit facilities but prefer to use DCP to just focus on paying to one bank. Looks like the checks on credit rating is pretty stringent.

Omg .. crappy .

 

[Taurusmay]

Omg .. crappy .

Kind of anxious to know the result too. Cos I heard when come 1st June 2017 about the new MAS rulings. For those who have an outstanding unsecured credit that is more than 18times your monthly income. All your unsecured credit faclities will be suspended and immediately placed under DMP (Debt Management Plan). This will be not good.

 

[melbourne10]

I have been reading this thread on DCP lately......cos I also just applied the DCP. The telesales officer told me that DCP is actually for those people who can afford to pay for their multiple unscured credit facilities but prefer to use DCP to just focus on paying to one bank. Looks like the checks on credit rating is pretty stringent.

I wonder if it's better to select a shorter tenure. Seems like most applicants chose 7-8 years and got rejected.

 

[Taurusmay]

I wonder if it's better to select a shorter tenure. Seems like most applicants chose 7-8 years and got rejected.

Totaly agreed with you. And provided the affordabality to pay off monthly too if chosen a shorter tenure.

 

[aang1971]

so who got approved for DCP? how long did the bank take to pay off debt? when installment start?

like no one got approved

 

[aang1971]

Another 7-10 days ! On a positive note, at least you managed to reach final stage..I reckon mine got binned by BOC probably at the first stage

dun give up, thought you going citi

 

[cheowyonglee]

singapore debt problem is not lowering but rising.i just apply for the ccs talk.i have given up hope on the dcp plan.not worth the time and energy to entertain them.want to help but so many restriction.

judging from the ccs time table... mostly are full every seasion.and is not stopping.

juding from the ccs talk time table... one can easily seen singaporeans alot are into debt and this is increasing very fast....

if gov still dun want to really really help without any self interest like all the dcp plan.. must be super clean in rating then can help...

then more will go bankcrupt.... i hope gov will reconsider the rules regarding the dcp plan.

 

[jacky5297]

I thought the rules are set by the banks no govt?

singapore debt problem is not lowering but rising.i just apply for the ccs talk.i have given up hope on the dcp plan.not worth the time and energy to entertain them.want to help but so many restriction.

judging from the ccs time table... mostly are full every seasion.and is not stopping.

juding from the ccs talk time table... one can easily seen singaporeans alot are into debt and this is increasing very fast....

if gov still dun want to really really help without any self interest like all the dcp plan.. must be super clean in rating then can help...

then more will go bankcrupt.... i hope gov will reconsider the rules regarding the dcp plan.

 

[deadlockb]

I wonder if it's better to select a shorter tenure. Seems like most applicants chose 7-8 years and got rejected.

I choose 5 years . i have CLEARED around. 20k + loan.
And then refinanced the few of my loans.after that rating has improved.
I did this in August.within 2 months+ i can see that score is improved.

 

[4_dreamz]

In 2015 they reported:

"MAS said the total number of over-extended borrowers in Singapore - defined as those owing unsecured debt of more than 12 times monthly income - is 84,000, representing 5 per cent of all unsecured borrowers."

So when they say they processing a lot of applicants, I believe.

I think the key is to have a clear cut application. If too messy, rejecting it is easier than following up with the applicant.