Debt consolidation Plan

[RebornMyLife88]

Hi guys I am new here I am not sure if my situation can be helped and I know my situation is quite shitty so please let me know if you guys can give me any suggestions.

POSB: $8,900.00
UOB: $8,700.00
HSBC: $10,000.00
Standard Chartered: $11,500.00
Citibank: $11,970.00
Maybank: $12,000.00
OCBC: $11,500.00
AMEX: $11,300.00

Total Outstanding: $85,870.00

Monthly Salary: $3,100.00
Gross: $46,000.00

Credit Rating: AA

Do you think there's any bank that can help me with DCP? I read a lot of the post saying that UOB & Citibank is efficient and has high approval rate but I already have Personal Loan with them but do you think it's possible? Please advice and help me if you guys know anything.

 

[Jojodespo]

Wow bro, your total outstanding is really high compared to your salary. I’m surprised how you can cope with your payments and maintain the AA rating.

With your gross, your BTI is about 23., with your monthly salary, it’s 28.

You should try with banks that may accept higher than 18x BTI, and also use your NOA or CPF, don’t use your monthly salary as a submission. Sure fail.

Try UOB or MAYBANK. They might allow more than 18x.

Hi guys I am new here I am not sure if my situation can be helped and I know my situation is quite shitty so please let me know if you guys can give me any suggestions.

POSB: $8,900.00
UOB: $8,700.00
HSBC: $10,000.00
Standard Chartered: $11,500.00
Citibank: $11,970.00
Maybank: $12,000.00
OCBC: $11,500.00
AMEX: $11,300.00

Total Outstanding: $85,870.00

Monthly Salary: $3,100.00
Gross: $46,000.00

Credit Rating: AA

Do you think there's any bank that can help me with DCP? I read a lot of the post saying that UOB & Citibank is efficient and has high approval rate but I already have Personal Loan with them but do you think it's possible? Please advice and help me if you guys know anything.

 

[AppleRing123]

Pardon me. Can extend the repayment?

Since 5 years is too tight for you, y not apply to extend the repayment period instead of getting a new application? The longest I read is some goes for 10 years?

 

[lork44]

Hi guys I am new here I am not sure if my situation can be helped and I know my situation is quite shitty so please let me know if you guys can give me any suggestions.

POSB: $8,900.00
UOB: $8,700.00
HSBC: $10,000.00
Standard Chartered: $11,500.00
Citibank: $11,970.00
Maybank: $12,000.00
OCBC: $11,500.00
AMEX: $11,300.00

Total Outstanding: $85,870.00

Monthly Salary: $3,100.00
Gross: $46,000.00

Credit Rating: AA

Do you think there's any bank that can help me with DCP? I read a lot of the post saying that UOB & Citibank is efficient and has high approval rate but I already have Personal Loan with them but do you think it's possible? Please advice and help me if you guys know anything.

How did you managed to get so much credits facilities when your monthly salary is $3K+?

But anyway, you credit rating is AA which is good. Just that your BTI is 27.7 based on your monthly salary. You will get better chance to use your gross for the checks which might bring down the BTI to 22.

 

[RebornMyLife88]

How did you managed to get so much credits facilities when your monthly salary is $3K+?

But anyway, you credit rating is AA which is good. Just that your BTI is 27.7 based on your monthly salary. You will get better chance to use your gross for the checks which might bring down the BTI to 22.

To be honest I don't know how did I manage to get so much approval for Loans and some are like Credit Card Bills. My Personal Loan is about 60k while the rest is Credit Card Bills.

My rating is AA is because I always pay on time as they are all on different dates.

 

[hclee01]

Hi guys I am new here I am not sure if my situation can be helped and I know my situation is quite shitty so please let me know if you guys can give me any suggestions.

POSB: $8,900.00
UOB: $8,700.00
HSBC: $10,000.00
Standard Chartered: $11,500.00
Citibank: $11,970.00
Maybank: $12,000.00
OCBC: $11,500.00
AMEX: $11,300.00

Total Outstanding: $85,870.00

Monthly Salary: $3,100.00
Gross: $46,000.00

Credit Rating: AA

Do you think there's any bank that can help me with DCP? I read a lot of the post saying that UOB & Citibank is efficient and has high approval rate but I already have Personal Loan with them but do you think it's possible? Please advice and help me if you guys know anything.

You may wish to attend the free CCS Info Talk to get a sense on how to manage your debt:
http://www.ccs.org.sg/services/page/information-talk

 

[airtroopers]

HH rating 1270 got chance to approve?

 

[clement112233]

I with uob debt consolidation plan, but going to miss this month repayment. Anyone know what will happen to me??

 

[lork44]

I with uob debt consolidation plan, but going to miss this month repayment. Anyone know what will happen to me??

You will be charge a late payment fees. Similar to credit card. It might be $80 if I'm not wrong.

But if you keep late payment or no payment, they might terminate the DCP with you and you would need to pay up the full loan amount.

Not advisable to skip payment.

 

[debtfree]

i owe two banks cc debt since year 2010. the total principal is probably at around 4000-5000. however, now it has balooned up to 30k or so. since the debt is past statue of limitation (6 years), how can i negotiate with the banks? i believe i can settle this amount quickly, as i would like to get credit card.

 

[Jojodespo]

No bro don’t miss any payment. CSO once told me that if you miss payment, the bank has the right to make things legal and ask you to settle full settlement.

I with uob debt consolidation plan, but going to miss this month repayment. Anyone know what will happen to me??

 

[Jojodespo]

Hi bro, we need to find out what your Low rating was caused by. Were you chased by Lawyers before for failed payments? Are your payment cycles all AAAAAAA? And are you close to your total unsecured credit limit?

HH rating 1270 got chance to approve?

 

[GreenAvocado]

Any advise on the time frame i should wait before applying for dcp with the same bank after getting rejected?

 

[SalmonSushi]

Any advise on the time frame i should wait before applying for dcp with the same bank after getting rejected?

After an unsuccessful application, I think is fine to apply again but after 2 unsuccessful applications, I guess is better to wait for at least 3 months before trying to apply again. Hopefully, your rating would increased by then so you would stand a higher chance.

 

[SalmonSushi]

i owe two banks cc debt since year 2010. the total principal is probably at around 4000-5000. however, now it has balooned up to 30k or so. since the debt is past statue of limitation (6 years), how can i negotiate with the banks? i believe i can settle this amount quickly, as i would like to get credit card.

Is your unsecured facilities being labeled as 'charged off'? If your profile with that bank is being classified under that, I strongly believe you are going to have a hard time getting a credit card regardless of which bank is it from.

 

[debtfree]

No bro don’t miss any payment. CSO once told me that if you miss payment, the bank has the right to make things legal and ask you to settle full settlement.

it is not true. if u owe little amount, they will not sue you.

 

[RebornMyLife88]

I am just wondering if I can report partial of my loan so that my BTI can be around 18 and I manage the rest of the loan myself?

Anyone think that is possible?

 

[Perisher]

Not enough to pay money lender , need 3100 , will fight again weekend.

dude, this is not a blog.
You are better off writing your stories in edmw.

People are here to discuss seriously about how to pare down debts in a logical/sensible manner. Gambling is not a serious nor sensible way to pare down debts. Even if you wanna use gambling to do it, don't update here with these information as it doesn't help anyone.

2cent.

 

[paurusu]

I am just wondering if I can report partial of my loan so that my BTI can be around 18 and I manage the rest of the loan myself?

Anyone think that is possible?

2 cents - if you are struggling to meet the repayment plan and you choose to partially dcp (assuming bank can go through) - wont it hit your capability to pay in the end?

It doesn't sound as good plan as you technically doesn't resolve your debt issue but instead creating risk to default your DCP going forward - due to nondeclared commitment.

Not to mention perhaps this is already a no no situation

 

[bozoka86]

Hi bro, we need to find out what your Low rating was caused by. Were you chased by Lawyers before for failed payments? Are your payment cycles all AAAAAAA? And are you close to your total unsecured credit limit?

bro. that time the 5% buffer. how much excess u get back?