Debt consolidation Plan

[Louis81]

Any idea what is the interest rate for BOC?

 

[Carlingford]

Later I take photo of the relevant page in the blue form and show u

The other pages I can't upload though

Thanks bro..

 

[Crazy12]

Any idea what is the interest rate for BOC?

If your r existing customer I think their interest rate lower.
Around 4-5%

 

[Louis81]

If your r existing customer I think their interest rate lower.
Around 4-5%

How about non existing?

 

[pororokia]

Bro...back then you really tell the CSS counselor that you do not want your wife to know about your debt problem ? I also don't want to let my wife know about the problem leh but I saw that the form (at least the white form) have a column for Spouse's income details.

actually they will just advise u to share this problem with your wife. just nod your head and go through the motion. end of the day to share or not to share its your call.

as long u can service the dmp on your own ability then its okay. some banks want you to pay more monthly thats why they will suggest you and your wife to help pay.

just let the cso knw your concern, they will help u. i did not tell my wife abt the dmp.. after 4yrs which is recently then i told her in fact i was in cc debt.. surprisingly she was able to take it as in she then understand how come in some months my finance is abit tight.

 

[fengshuiawareness]

actually they will just advise u to share this problem with your wife. just nod your head and go through the motion. end of the day to share or not to share its your call.

as long u can service the dmp on your own ability then its okay. some banks want you to pay more monthly thats why they will suggest you and your wife to help pay.

just let the cso knw your concern, they will help u. i did not tell my wife abt the dmp.. after 4yrs which is recently then i told her in fact i was in cc debt.. surprisingly she was able to take it as in she then understand how come in some months my finance is abit tight.

You are blessed with a understanding wife.

 

[Louis81]

I am still deciding
Citi or BoC
5 years
Rating EE

 

[Carlingford]

My wife knows about it (but not the amount) actually but I don't want to drag her through this whole process..She has helped me bear some of the household burden so that I can have leftover cash for DCP or DMP

actually they will just advise u to share this problem with your wife. just nod your head and go through the motion. end of the day to share or not to share its your call.

as long u can service the dmp on your own ability then its okay. some banks want you to pay more monthly thats why they will suggest you and your wife to help pay.

just let the cso knw your concern, they will help u. i did not tell my wife abt the dmp.. after 4yrs which is recently then i told her in fact i was in cc debt.. surprisingly she was able to take it as in she then understand how come in some months my finance is abit tight.

 

[melbourne10]

Just got the HSBC decline letter dated 3/3...
But according to my agent, she sent back for review... That's what she told me over the phone yesterday, 8/3...
Hopefully the next HSBC letter brings better news

 

[melbourne10]

A bit more elaboration... My application was put up on 27/2 and it was declined on 3/3 but no news from agent. No call from agent to inform me of this. I called 7 days later, 8/3, and was informed that it was under review.

HSBC applicants may want to keep this in mind - their initial decision comes quite quickly.

 

[Carlingford]

Talking about HSBC...I just received a call from HSBC's agent (I sent over documents right after knowing of SCB rejection but she told me it was incomplete back then and I just left it as it is). She says she will help me to send in the application tomorrow..Strange

Just got the HSBC decline letter dated 3/3...
But according to my agent, she sent back for review... That's what she told me over the phone yesterday, 8/3...
Hopefully the next HSBC letter brings better news

 

[melbourne10]

Talking about HSBC...I just received a call from HSBC's agent (I sent over documents right after knowing of SCB rejection but she told me it was incomplete back then and I just left it as it is). She says she will help me to send in the application tomorrow..Strange

No harm, just let it process. In what way was it incomplete though?

 

[pororokia]

My wife knows about it (but not the amount) actually but I don't want to drag her through this whole process..She has helped me bear some of the household burden so that I can have leftover cash for DCP or DMP

thats good, my wife didnt even knw abt it.

but on certain months really did struggle.

during the dmp period really got to cut all bad habits, stop all forms of gambling and focus on getting the life back.

i know once some bros if manage to get dmp approved, if monthly got spare money sure got the temptation to gamble.

 

[melbourne10]

thats good, my wife didnt even knw abt it.

but on certain months really did struggle.

during the dmp period really got to cut all bad habits, stop all forms of gambling and focus on getting the life back.

i know once some bros if manage to get dmp approved, if monthly got spare money sure got the temptation to gamble.

Was the monthly payment under DMP higher or lower than the usual monthly payment?

Does it have to be paid off within 5 years?

Also, do they consider things like parental support, insurance, and telco contracts?

My TV/Internet ends this year, mobile ends next year. Will move to sim only plan after that for mobile. TV and Internet is essential for my household.

Also, they won't ask u to surrender ur insurance policies right?

Thanks in advance for helping to answer

 

[pororokia]

Was the monthly payment under DMP higher or lower than the usual monthly payment?

Does it have to be paid off within 5 years?

Also, do they consider things like parental support, insurance, and telco contracts?

My TV/Internet ends this year, mobile ends next year. Will move to sim only plan after that for mobile. TV and Internet is essential for my household.

Also, they won't ask u to surrender ur insurance policies right?

Thanks in advance for helping to answer

depends on the length of your dmp, can be shorter if u have extra u can pay more.

they do consider parental support.
internet
handphone
pple wedding - angbao
pple songka - peh kim
insurance
ur mthly groceries
transport $$

my dmp is lower than all cc minimum added up.

think my cc all added up min sum is ard 2k+ , think ard 2.1 or 2.2k.

my dmp is ard 1.3k+

that time i had a newborn so i had to add in her diapers, milk powders etc.. they do consider as well.

 

[pororokia]

luckily my wife is working, if not i definitly jialat.

 

[melbourne10]

luckily my wife is working, if not i definitly jialat.

Guess I am lucky that I am still single, and no major loans like house and car under my name.

Just got to find a way to manage the unsecured and save up some money for the next phase of life.

 

[Carlingford]

Some loan statement letters were deemed not acceptable by her initially...

No harm, just let it process. In what way was it incomplete though?

 

[Carlingford]

I got a HDB loan (luckily is financed by CPF) and a joint car loan $400+ per month...Now want to sell car will make my financials even worse...

Guess I am lucky that I am still single, and no major loans like house and car under my name.

Just got to find a way to manage the unsecured and save up some money for the next phase of life.

 

[melbourne10]

Some loan statement letters were deemed not acceptable by her initially...

Scan and send the latest ones if you are able to, 30 mins, might help your application, you never know. All the best.