Debt consolidation Plan

[CeSaRiO]

Think his one is cuz the annual income quite high also

Maybe I can ask the guy again when he calls again.

This Citibank guy quite proactive and he really kinda advises me well as compared to the one from SCB and DBS.

 

[Louis81]

Maybe I can ask the guy again when he calls again.

This Citibank guy quite proactive and he really kinda advises me well as compared to the one from SCB and DBS.

What the guy name from citi

 

[CeSaRiO]

What the guy name from citi

His name is Ken.

 

[Louis81]

His name is Ken.

O my is justin

 

[Louis81]

His name is Ken.

Other than 5 years what else he sharr

 

[melbourne10]

His name is Ken.

Their team around 10 ppl I think. I agree they are quite proactive.

 

[Louis81]

Their team around 10 ppl I think. I agree they are quite proactive.

Imagine 100 ppl average 100k is 10million loan out from citi

 

[melbourne10]

2015:

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.

They owe a total of $7.5 billion, less than 0.4 per cent of the total banking assets of Singapore, MAS said, adding that their borrowings pose no risk to the local financial industry whose aggregate non-performing loan ratio is low, at 1.1 per cent as at Dec last year.

 

[CeSaRiO]

O my is justin

How was his service?

 

[CeSaRiO]

Other than 5 years what else he sharr

I guessed generally he did share with me about the chance of approval based on my **.

When he called me he referred to the old ** in the records and advised me accordingly. Very patient and nice guy.

 

[CeSaRiO]

Their team around 10 ppl I think. I agree they are quite proactive.

I guessed this is good. I really hope to progess further in my career and if things goes well, Citibank might be a good consideration as the bank to be with

 

[OngHuatHuat]

Citi, bank of china, scb and Maybank easier.

I guessed this is good. I really hope to progess further in my career and if things goes well, Citibank might be a good consideration as the bank to be with

 

[melbourne10]

DMP

Total debts >= $10000, years of banking relationship (> 12 months)

Total unsecured amount under DMP

Banks give longer period to repay, lower interest rate

Single digit interest rate

No further use of credit cards

Regular source of income - money to pay every month

DMP status worsens credit rating? - maintain a good credit report - important for getting a new loan

(From CCS talk)

 

[melbourne10]

DMP

Total debts >= $10000, years of banking relationship (> 12 months)

Total unsecured amount under DMP

Banks give longer period to repay, lower interest rate

Single digit interest rate

No further use of credit cards

Regular source of income - money to pay every month

DMP status worsens credit rating? - maintain a good credit report - important for getting a new loan

(From CCS talk)

A very useful talk. Eye opener.
First two options are DCP and DMP.

You must submit the green form as proof that you attended before you can submit the blue form and request for an advice session (one off $30 payment).

Note - if you submit the green form, it allows CCS to inform your creditors that you've attended the talk - if they enquire. ONLY if the creditors enquire. Still, do consider carefully.

 

[lodestone]

A very useful talk. Eye opener.
First two options are DCP and DMP.

You must submit the green form as proof that you attended before you can submit the blue form and request for an advice session (one off $30 payment).

Note - if you submit the green form, it allows CCS to inform your creditors that you've attended the talk - if they enquire. ONLY if the creditors enquire. Still, do consider carefully.

Bro why u say do consider carefully???

 

[Iwanttobehappy]

My dbs failed ..

 

[melbourne10]

Bro why u say do consider carefully???

Do consider carefully the option of DMP.
For some it might be better than trying DCP over and over again.
Each application brings down the credit rating by some points.

 

[Vrommabcde]

Do consider carefully the option of DMP.
For some it might be better than trying DCP over and over again.
Each application brings down the credit rating by some points.

Guys for DMP is it same will stay on ur CBR for 3yrs??
Anything to take note for DMP?? Attending the talk also giving up for DCP if BOC reject me this time

 

[melbourne10]

Guys for DMP is it same will stay on ur CBR for 3yrs??
Anything to take note for DMP?? Attending the talk also giving up for DCP if BOC reject me this time

Can refer to my earlier post. I copied off their slides.

U need to establish that u are in distress, meaning monthly minimum payment and commitments add up, greater than ur monthly salary.

Process takes 4-6 weeks after they see u for the counseling session. Not guaranteed. The guy did emphasize to be completely honest for your monthly budget and how much u are able to set aside for DMP.

 

[member8]

I called them today, the lady informed that they didn't receive my application which was emailed to them 19 FEB!!! I got a call from Bank of China, the Rep informed me that there is a possibility of rejection but I can still apply, I couldn't find their Form, Do you know from where to download it bros?