Handsome_guy
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HL advertise low interest rate of 3.5%. So it's all bs.
Debt consolidation Plan
- Thread starter deadlockb
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HL advertise low interest rate of 3.5%. So it's all bs.
inside the t&c is 3.5%-8% with 1.5% processing fee
SO please ask before they process your application
[
Hi bro do you have your cap contact at uob thinking to try there
QUOTE=ryantam04;112482615]Hi guys, here's my contribution, hope to brighten your day.
O/S: 51k
Monthly salary: 4.3k
Grade: HH
Score: 1715
I never submit NOA
My approval bank is UOB
05/01/18 CSO called me if I am interest in DCP plan, i guess they are doing marketing now, so I take up the application & submit all documents within the day.
06/01/18 Was informed by the CSO that I have missing documents, so I immediate email him the necessary. Plus he filled up application for me, what I need to do is just read & sign on it.
08/01/18 CSO called to confirm the application and reading the T&C like others do, told me will be informed the outcome in 3 to 5 working day.
23/01/18 It was quite a long wait tho, finally he called me to inform my application was approve.
**During the waiting period, he did keep me update that the application still pending due to their system down using his personal hp.
Specifically thanks to Jojo as his info very helpful.[/QUOTE]
Hi bro do you have your cap contact at uob thinking to try there
QUOTE=ryantam04;112482615]Hi guys, here's my contribution, hope to brighten your day.
O/S: 51k
Monthly salary: 4.3k
Grade: HH
Score: 1715
I never submit NOA
My approval bank is UOB
05/01/18 CSO called me if I am interest in DCP plan, i guess they are doing marketing now, so I take up the application & submit all documents within the day.
06/01/18 Was informed by the CSO that I have missing documents, so I immediate email him the necessary. Plus he filled up application for me, what I need to do is just read & sign on it.
08/01/18 CSO called to confirm the application and reading the T&C like others do, told me will be informed the outcome in 3 to 5 working day.
23/01/18 It was quite a long wait tho, finally he called me to inform my application was approve.
**During the waiting period, he did keep me update that the application still pending due to their system down using his personal hp.
Specifically thanks to Jojo as his info very helpful.[/QUOTE]
Vygotsky84
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edited... 10chars
Last edited:
melbourne10
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Does this mean that HL bank interest is variable, on a case by case basis?
[/QUOTE]Hi Money12, I have PM you the contact.
Hi Ryantam04, can give me the contact please? Thank you.
JiuMingPlease
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Outstanding: 42k
Monthly salary: 3.5k (New job, 1 month payslip since Feb)
Grade: AA
Score: 1988 drop to 1960 due to applied banks do a credit bureau check
Approval bank: UOB
Banks applied: Maybank (Rejected, perhaps no account with them), SC (Rejected), UOB (Success).
I submitted all 3 application during 2nd week of Mar.
Maybank reject after 2 days. No reason given.
SC re-processed after 1st round reject due to 1 of my bank statement not tally with the credit bureau. After another 4 days, received a SMS that 2nd round failed as well due to UOB accepted my DCP.
UOB called me after 1 week to inform that my application is success. All funds will paid to respective banks within 2 weeks, and a UOB will send a letter on the Min. payment + credit card with 1 x monthly income limit.
I strongly suggest do not give up hope even when rejected. Just apply all possible banks. SC and UOB CS is outstanding, always keep me informed of all latest status.
Take note that you can apply multiple banks, but credit rating might drop if rejected by multiple banks at one go.
* DBS CS like bochup. Even telling me that my new job 1 month payslip high failure rate, and will affect my credit rating.
Monthly salary: 3.5k (New job, 1 month payslip since Feb)
Grade: AA
Score: 1988 drop to 1960 due to applied banks do a credit bureau check
Approval bank: UOB
Banks applied: Maybank (Rejected, perhaps no account with them), SC (Rejected), UOB (Success).
I submitted all 3 application during 2nd week of Mar.
Maybank reject after 2 days. No reason given.
SC re-processed after 1st round reject due to 1 of my bank statement not tally with the credit bureau. After another 4 days, received a SMS that 2nd round failed as well due to UOB accepted my DCP.
UOB called me after 1 week to inform that my application is success. All funds will paid to respective banks within 2 weeks, and a UOB will send a letter on the Min. payment + credit card with 1 x monthly income limit.
I strongly suggest do not give up hope even when rejected. Just apply all possible banks. SC and UOB CS is outstanding, always keep me informed of all latest status.
Take note that you can apply multiple banks, but credit rating might drop if rejected by multiple banks at one go.
* DBS CS like bochup. Even telling me that my new job 1 month payslip high failure rate, and will affect my credit rating.
Last edited:
reboot2018
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I believe that we all shared the same objective here. That is to get out of the debts s*it asap.
For those who are bearing above 12 months and with poor/bad credit rating, you can only bite the bullet and take whatever you could attached with (DMP, DCP etc) and at any interest rate charged.
Even those with good rating and have applied for DCP, they may not get the preferential interest rate or loan tenor. As ultimately it is the FI to conclude what to be given and you can only accept and cannot cancel! But having that said, I do not think any FI would offer something that is very far off to "chop" you so as to maximize their interest earnings and/or to minimize their risk exposure. If you have came across any, I would suggest to you to lodge a complaint to MAS. As this definitely against the MAS objective/purpose to launch this product.
And for those who falls below 12 months, you can actually convert your high interests running credit cards and cashline debts into a structural personal loan. Many banks or FIs has offer personal loan from 5 to max 7 years at the good interest rates too.
Well, I know that some of you will tell me that MAS has recently revised or tightened on the unsecured facilities, whereby you are unable to grant further personal loan if you have exceeded 6 months interest bearing.
And this is what I did to overcome the issue. I have actually sought help from my family members whom has good credit background to apply for the personal loan instead. Then I used the approved loan to pay off my personal debts. Then after a few months where now my unsecured facilities has fall below 6 months and with much better credit rating (due to full settlement of some debts), I am able to apply the same personal loan in my own name. Then I used the approved loan to pay off/fully settled those loans applied under my family member's name. But yes, I need to bear the penalty charges/early redemption fees. But the bottom line is I know that I would be able to clear my debts in the near future, instead of just meeting the minimum payment every month. And by stretching on the repayment period (between 5 to 7 years), my monthly committed payout to these unsecured facilities has substantially reduced and I get to save up some good monies at the same time.
Pardon me for my lengthy write up. Just my 2 cents worth.
For those who are bearing above 12 months and with poor/bad credit rating, you can only bite the bullet and take whatever you could attached with (DMP, DCP etc) and at any interest rate charged.
Even those with good rating and have applied for DCP, they may not get the preferential interest rate or loan tenor. As ultimately it is the FI to conclude what to be given and you can only accept and cannot cancel! But having that said, I do not think any FI would offer something that is very far off to "chop" you so as to maximize their interest earnings and/or to minimize their risk exposure. If you have came across any, I would suggest to you to lodge a complaint to MAS. As this definitely against the MAS objective/purpose to launch this product.
And for those who falls below 12 months, you can actually convert your high interests running credit cards and cashline debts into a structural personal loan. Many banks or FIs has offer personal loan from 5 to max 7 years at the good interest rates too.
Well, I know that some of you will tell me that MAS has recently revised or tightened on the unsecured facilities, whereby you are unable to grant further personal loan if you have exceeded 6 months interest bearing.
And this is what I did to overcome the issue. I have actually sought help from my family members whom has good credit background to apply for the personal loan instead. Then I used the approved loan to pay off my personal debts. Then after a few months where now my unsecured facilities has fall below 6 months and with much better credit rating (due to full settlement of some debts), I am able to apply the same personal loan in my own name. Then I used the approved loan to pay off/fully settled those loans applied under my family member's name. But yes, I need to bear the penalty charges/early redemption fees. But the bottom line is I know that I would be able to clear my debts in the near future, instead of just meeting the minimum payment every month. And by stretching on the repayment period (between 5 to 7 years), my monthly committed payout to these unsecured facilities has substantially reduced and I get to save up some good monies at the same time.
Pardon me for my lengthy write up. Just my 2 cents worth.
Youandme8888
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I believe that we all shared the same objective here. That is to get out of the debts s*it asap.
For those who are bearing above 12 months and with poor/bad credit rating, you can only bite the bullet and take whatever you could attached with (DMP, DCP etc) and at any interest rate charged.
Even those with good rating and have applied for DCP, they may not get the preferential interest rate or loan tenor. As ultimately it is the FI to conclude what to be given and you can only accept and cannot cancel! But having that said, I do not think any FI would offer something that is very far off to "chop" you so as to maximize their interest earnings and/or to minimize their risk exposure. If you have came across any, I would suggest to you to lodge a complaint to MAS. As this definitely against the MAS objective/purpose to launch this product.
And for those who falls below 12 months, you can actually convert your high interests running credit cards and cashline debts into a structural personal loan. Many banks or FIs has offer personal loan from 5 to max 7 years at the good interest rates too.
Well, I know that some of you will tell me that MAS has recently revised or tightened on the unsecured facilities, whereby you are unable to grant further personal loan if you have exceeded 6 months interest bearing.
And this is what I did to overcome the issue. I have actually sought help from my family members whom has good credit background to apply for the personal loan instead. Then I used the approved loan to pay off my personal debts. Then after a few months where now my unsecured facilities has fall below 6 months and with much better credit rating (due to full settlement of some debts), I am able to apply the same personal loan in my own name. Then I used the approved loan to pay off/fully settled those loans applied under my family member's name. But yes, I need to bear the penalty charges/early redemption fees. But the bottom line is I know that I would be able to clear my debts in the near future, instead of just meeting the minimum payment every month. And by stretching on the repayment period (between 5 to 7 years), my monthly committed payout to these unsecured facilities has substantially reduced and I get to save up some good monies at the same time.
Pardon me for my lengthy write up. Just my 2 cents worth.
What does 6 months interest bearing means?
6x bti?
Showhand82
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To Dear Bro Ryantam04 and other successful DCP Applicants
Can you share your UOB CSO or any other bank's CSO contact? My risk rating finally reach HH, now hoping for a good CSO who can assist me.
thanks
Thanks.
Can you share your UOB CSO or any other bank's CSO contact? My risk rating finally reach HH, now hoping for a good CSO who can assist me.
thanks
Thanks.
Hi Money12, I have PM you the contact.
Last edited:
TryingHard
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Dear Bros,
Any experts can advice me
i am in debt for over 50k from a few banks
My salary 3000.
Score : 1988
Grade : AA
i am eligible for a DCP
Recently i felt my pocket a little too tight for me.
Already been clearing my debts for years without fail
Should i go for another bank loan to sustain for being time or should i apply DCP with HSBC or some other banks.
Please help
Thankss
Hades
Any experts can advice me
i am in debt for over 50k from a few banks
My salary 3000.
Score : 1988
Grade : AA
i am eligible for a DCP
Recently i felt my pocket a little too tight for me.
Already been clearing my debts for years without fail
Should i go for another bank loan to sustain for being time or should i apply DCP with HSBC or some other banks.
Please help
Thankss
Hades
TryingHard
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which means i have no new funding coming in except for Salary.
that is the only problem i could think of.
Handsome_guy
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Your rating AA should have no issue getting approval.
reboot2018
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It means ur unsecured debts with interest bearing and have exceeded 6 times of your income.
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