Debt consolidation Plan

[Nauzam69]

Thank you very much for your reply.. can i know what is CCS?

Your loan BTI is more than 12x so based on the information from ABS and the postings here, you should be eligible. Please try applying to a bank at a time and see how it goes. One of these banks might give you the DCP chance. If not, you can go directly to CCS for DMP instead.

Take care of yourself so you can take care of your parents. All the best.

 

[janessali]

You can pm me

I need hit the certain amount of post to PM. Hahaha. I try...

 

[iamnotlame]

Thank you very much for your reply.. can i know what is CCS?

You're welcome. CCS is Credit Counselling Singapore, you may go to their site http://www.ccs.org.sg/ for more information.

 

[Jojodespo]

Ooh.. I can pm you hahah

I need hit the certain amount of post to PM. Hahaha. I try...

 

[cheesebuurger]

Hi all,

I need an urgent advise.
I do not have a high annual income like the rest also my salary is below $2000. Basically I have 23k annual income and possible if I can apply for DCP? I have a few depts in my hand (total less than 5k) and im so stress idk who I should turn up to, because of daily stress with work and money , my life is so tiring...

 

[janessali]

Ooh.. I can pm you hahah

Yes plssss thanks

 

[Scaredboy]

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

Hi all! I just made my first payment of 1830 this month. 95 more payments to go.. counting down to the day I can finish this.. Long journey.. what discipline needed.

 

[Jojodespo]

Hey.. you can give it a shot with the banks. Check your CBS rating first. More than 12x BTI, should be ok already. Some banks accept more than 24x BTI tho quite rare.. they take in lots of other factors too..

Hi all,

I need an urgent advise.
I do not have a high annual income like the rest also my salary is below $2000. Basically I have 23k annual income and possible if I can apply for DCP? I have a few depts in my hand (total less than 5k) and im so stress idk who I should turn up to, because of daily stress with work and money , my life is so tiring...

 

[cheesebuurger]

Thanks for the advice
I will give a try. But which bank should I head off to? It's rare for banks to help with low anuual income tho like mine is not even about $30k

Hey.. you can give it a shot with the banks. Check your CBS rating first. More than 12x BTI, should be ok already. Some banks accept more than 24x BTI tho quite rare.. they take in lots of other factors too..

 

[potata]

Hi all,

I need an urgent advise.
I do not have a high annual income like the rest also my salary is below $2000. Basically I have 23k annual income and possible if I can apply for DCP? I have a few depts in my hand (total less than 5k) and im so stress idk who I should turn up to, because of daily stress with work and money , my life is so tiring...

Your total debt only less than 5k? Then you won’t be able to qualify for dcp. Maybe try getting personal loan. DBS and SCB offer loans for those annual income between 20k to 30k also, just that slightly higher interest rate.

 

[gobbie]

gobbie, I'm also in the same situation. Applied for hsbc and they got back within a day v fast, but they said I'm still a few hundred short of the 12x. And I've already maxed out all but still can't hit the 12x unless I apply for another cc but I don't think banks will issue a cc when I'm already so close to the 12x bti. Crap.

Yeah. Have you tried other banks? What's their responds? The problem I'm facing is every month is i'll be paying the interest + chip off abit of the principal but at this rate i'll prob owe till the day I pass on since i'll never cross the 12x mark with the amount slowly being paid off over time.

I'll be calling the rest of the banks soon to see if what they can offer.

 

[slushie]

Gobbie, what I'm thinking of doing now is to max out my cards through cash advance before billing cycle so when the next billing cycle comes and they add in interest it will be a few more hundred to add to the total debt pool.

I counted and if I do this I'll be able to hit 12x. It's a huge risk though cos if the dcp isn't approved then I'll be worse off where I started Haiz.

 

[bozoka86]

Hi all! I just made my first payment of 1830 this month. 95 more payments to go.. counting down to the day I can finish this.. Long journey.. what discipline needed.

bro, me same boat as you. $1833 per month for 84 months. pay 2 months. 82 more months to go

 

[Scaredboy]

bro, me same boat as you. $1833 per month for 84 months. pay 2 months. 82 more months to go

Bro let’s keep each other encouraged alright? Every month past is a month closer to our end goal.

 

[janessali]

Ooh.. I can pm you hahah

Trying hard to hit the post. Haha

 

[money88]

bro, me same boat as you. $1833 per month for 84 months. pay 2 months. 82 more months to go

your salary is very high???

 

[money88]

Bro let’s keep each other encouraged alright? Every month past is a month closer to our end goal.

how do u all save money ?? or work part time??

 

[sgman88]

how do u all save money ?? or work part time??

If compare to those who pay lifetime maintenance fee until die, totally no savings, at least gg thru dcp still can see some light and hope.

 

[joonzyf]

help

hi,

i would like to apply for DCP but not sure how to.
my monthly income is 2.5k
and my outstanding debts is 27000.
think my BTI doesnt hit 12x yet.
how can i make my BTI hit 12? cause seems like banks only accept BTI > 12x monthly salary.

 

[CK12345]

hi,

i would like to apply for DCP but not sure how to.
my monthly income is 2.5k
and my outstanding debts is 27000.
think my BTI doesnt hit 12x yet.
how can i make my BTI hit 12? cause seems like banks only accept BTI > 12x monthly salary.

Unfortunately the only way for you to qualify for DCP is to incur additional debt. If you do not have available credit limit currently to hit 12x BTI, then you will not be able to qualify for DCP.