Debt consolidation Plan

[coastisclear]

The first thing counsellors will advise is never pay the debt for the ones who owe money. They must take responsibility for their debts.

He borrow 8k from us[/QUOTE]

 

[slushie]

Great thread, read through almost of all it. Thanks to everyone for their input! I applied for Citibank a week back but haven't heard from them at all. Does anyone have a good and helpful cso contact to share? Pm me please, thanks!

I'm about 3k short of the 12x bti and credit score is gg so I'm not sure if things will go well

 

[CK12345]

"GG" can try SCB or HSBC. Higher chance of approval

 

[Matrix21]

for those who got on dcp, any idea how come i have spare cash in almost all the banks after my dcp bank(UOB) paid them in full. can i retrieve them out? how long do i have to wait before i can take them out

 

[sunshine76]

hi,
my credit score is AA and never defaulted payment for cards n loans and am comfortable in keep paying my monthly bills, but the BTI exceeds 12X. what can I do in this situation, is DCP is the only choice?. I do not want to giveup all my credit cards n want to keep using them. any advice guys?

 

[iamnotlame]

hi,
my credit score is AA and never defaulted payment for cards n loans and am comfortable in keep paying my monthly bills, but the BTI exceeds 12X. what can I do in this situation, is DCP is the only choice?. I do not want to giveup all my credit cards n want to keep using them. any advice guys?

I was in a similar situation before, consistently paying but balance is not reducing. If you want to still use a card, go for DCP if you can get approved. Otherwise, you can go the route of DMP but no more credit cards for you to use. Just my own opinion, though.

 

[sunshine76]

I was in a similar situation before, consistently paying but balance is not reducing. If you want to still use a card, go for DCP if you can get approved. Otherwise, you can go the route of DMP but no more credit cards for you to use. Just my own opinion, though.

how come balance is not reducing, r u just paying the minimum amount?. I am paying the entire outstanding amount every month and the balance is gradually reducing , but I would still be above 12X by may 2019. I do not want my accounts to get suspended because of that. have no idea how to address this issue.

 

[iamnotlame]

how come balance is not reducing, r u just paying the minimum amount?. I am paying the entire outstanding amount every month and the balance is gradually reducing , but I would still be above 12X by may 2019. I do not want my accounts to get suspended because of that. have no idea how to address this issue.

Some min, some full. Sorry i did not get your case. You said you are paying in full. How come you have bti 12x?

 

[Matrix21]

for those who got on dcp, any idea how come i have spare cash in almost all the banks after my dcp bank(UOB) paid them in full. can i retrieve them out? how long do i have to wait before i can take them out

anyone knows?

 

[multi]

anyone knows?

The bank will send you the chq for the excess. Takes 3 weeks or so.

Sent from LGE LG-H990 using GAGT

 

[sunshine76]

Some min, some full. Sorry i did not get your case. You said you are paying in full. How come you have bti 12x?

iam paying the monthly outstanding in full, so no additional interests occurs, but still the debt exceeds 12X, cuz borrowed more.

 

[reboot2018]

hi,
my credit score is AA and never defaulted payment for cards n loans and am comfortable in keep paying my monthly bills, but the BTI exceeds 12X. what can I do in this situation, is DCP is the only choice?. I do not want to giveup all my credit cards n want to keep using them. any advice guys?

If you are just paying minimum payment then you are not reducing your debts at all or reduces to very minimum. If you want to get your debts cleared once and for all then best to apply for DCP.

As per MAS regulations and to safeguard DCP FI interests all your credit cards will be suspended. I have applied debit cards instead and continued to enjoy the required benefits like mobile bill and petrol discount.

 

[Anewhope]

anybody transition from DCP to DRS or DMP ? i got difficulty paying my monthly installment for DCP. refinance not an option cos needs money upfront.

I was thinking the same too.. let me know if u already transitioned from DCP

 

[Lexair]

Anyone tried refinancing with any banks and got approved? I’m currently with Maybank And I Want yo lower my monthly repayment as well. Tried to extend the tenure with Maybank but they rejected me. Cos I got os in the card and late payment fees.

 

[Scaredboy]

Hi bro,

You have a very good chance to get approval so do not give up. DBS is known to be slow in processing. Why don't you try HSBC pr Maybank?

Btw, just a note to those whos thinking of refinancing. Please check with the 2nd bank if they factor in the early redemption fees as well. If not once approved you still need to pay off the around 5% fees from your 1st DCP bank.

cheers!

Hi guys! I got my dcp approved by DBS! Gotta pay 1730 every month for 96 months. It’s really a very Long way to go and I hope I can do it .. still very scared of indiscipline

 

[sgman88]

Hi guys! I got my dcp approved by DBS! Gotta pay 1730 every month for 96 months. It’s really a very Long way to go and I hope I can do it .. still very scared of indiscipline

8 years is no joke. At least u know there is a light at end of tunnel. So if compare to some who pay lifetime maintenance fee without any light the tunnel end at all, at least there is hope.

 

[iamnotlame]

Hi guys! I got my dcp approved by DBS! Gotta pay 1730 every month for 96 months. It’s really a very Long way to go and I hope I can do it .. still very scared of indiscipline

All the best and stay the course. I am on a long journey, too, 84 months but via DMP route.

 

[pnutbutterwulf]

Hi guys! Anyone of you heard about Edudebt before? Thru their website, i read that they can lessen your loans even more better than DCP. Anybody tried contacting them before?

 

[Satanchild666]

I refinanced with BOC approval if monthly installment of 673. Previously was 1074 with UOB

Can I check, how much was your balance with UOB and how long more to go with UOB before porting over with BOC. Lastly how long your payment with BOC?

 

[BigMonkey]

50k plus...six years plus. My payment with BOC is long long way... 8 years

the repayment period extended and the monthly payment went down after you refinance?