Debt consolidation Plan

[pororokia]

How to produce supporting document if i gv parents allowance

they got a form to fill up what commitments u have over a month.

like eg.

give parents
bills
some wedding angbaos or funeral peh kim (average out)
see doctors
go with with friends(entertainment cost)

etc etc.

 

[pororokia]

Daily meals how to have documents

they will do average calculation, but of cos if u have difficulty can voice out to the cso assigned to u.

base case, they will see your monthly salary and the total amount you owe, then see whether they can help u restructure everything anot.

think max tenor is 5-6yrs. if too much debt over your monthly salary maybe they cant help also.

everything will be a rough figure like your meals, your groceries, your insurance etc.

there's a fixed cso from ccs that will be assigned to u to help u go through everything till your dmp is approved.

then u will heave a sigh of relief.

 

[pororokia]

actually i managed to pay all minimum sum every mth for quite an amount of period, this kind of lifestyle also not healthy.

till i got injured and i cant clock OT anymore, need to be hospitalized and on light duty for few months.

so banks started calling and im kinda left with no choice to go approach CCS for help. i went with clutches some more, the initial period.

but based on my payslips, the banks wanted me to pay more monthly cos my pay with OT was higher, but due to the fact that i got injured and cant clock OT, i asked the cso to try help me negotiate to a lower amount, got to negotiate for a while before the banks agreed.

when i attended the ccs pre talk session, there's really people from all walks of life all in debts, almost every session is full and gotta register early.

i spoke to a few and mostly all ended up in debts due to either casino or soccer gambling.

 

[Louis81]

Any apply dbs ?? Cos I wanna see their waiting time ..

Applied for DBS wait for them to call.

 

[Louis81]

they got a form to fill up what commitments u have over a month.

like eg.

give parents
bills
some wedding angbaos or funeral peh kim (average out)
see doctors
go with with friends(entertainment cost)

etc etc.

I know the form. But all these how to have supporting documents.

 

[Iwanttobehappy]

Applied for DBS wait for them to call.

U submitted your docs ??

 

[pororokia]

I know the form. But all these how to have supporting documents.

oh. all these no need.

just need to fill up the form accordingly.

supporting documents mainly to show your income, maybe your telco bills, sp power bills if u paying.

other fees like conservancy fees, internet etc.

those that no have supporting documents one they will just do a rough figure and average out.

 

[pororokia]

sorry i didnt follow the thread from the start.

u guys is loans or keep rolling credit cards and keep paying min fees?

 

[Louis81]

I applied dbs ... sent in some docs and they request afew latest one ..

So what was yr experience w dbs

 

[Louis81]

U submitted your docs ??

Applied as in click on website for them to call

 

[Louis81]

the banks reduced to 3% interest rate, the best CCS can negotiate to.

but of cos if u approach them, will take around 2-3 mths before the dmp is approved.

i started approaching them when i faced difficulty in just keep paying the minimum payment for multiple cards, but i did that lifestyle for couple of yrs before i approach them.

the cso appointed to me was really good, she did her best to help me get my dmp approved.

What are the banks that reduce to 3% and any bank no reduce

 

[Carlingford]

Heard that only 50% success rate ..

The RAS approval rate also quite low sia.

http://www.theonlinecitizen.com/2017/01/18/successful-applicants-of-mas-debt-scheme-got-played-out/

Interesting numbers...

 

[Carlingford]

Sure...Really hope that I will have a positive outcome this time around

Keep us posted on the timeline n results

 

[Carlingford]

Mine is the latter...

sorry i didnt follow the thread from the start.

u guys is loans or keep rolling credit cards and keep paying min fees?

 

[pororokia]

What are the banks that reduce to 3% and any bank no reduce

all banks accepted the dmp proposal and all reduced to 3%

but although its a dmp, i still got to pay the banks seperately, just that ccs helped arranged all due date to be the same.

 

[pororokia]

Mine is the latter...

cc can really be dangerous if we do not know how to use it.

 

[Carlingford]

Indeed....Learnt my lesson the hard way..No more CC in future even after the DCP record is gone from CBS

cc can really be dangerous if we do not know how to use it.

 

[pororokia]

Indeed....Learnt my lesson the hard way..No more CC in future even after the DCP record is gone from CBS

yup most likely i wont take any CC also after my dmp is cleared.

for dmp to be approved is based case all CCs is automatically cancelled.

 

[OngHuatHuat]

Wahh din realize this thread generate reply so fast. Seems like a lot of people are getting into debt trap.

 

[pororokia]

anyway just to share.

based on ccs timeline.

i attended session in feb, got my first appt in march and my dmp approved in may and my first dmp payment in may also.

so the waiting time is almost similar to those waiting time for dcp i guess?