Debt consolidation Plan

Status
Not open for further replies.
J

JayChou07

Member
Joined
Jun 9, 2003
Messages
174
Reaction score
11
Dun sink further by going money lender. Advised talk to your parents or ur bf to settle the immediate concern.
 
aang1971

aang1971

Banned
Joined
Oct 10, 2009
Messages
15,039
Reaction score
943
melbourne10 said:
If take monthly income as (annual income/12), the proposed monthly repayment for me will be 25.6% of monthly income. If take monthly income as actual income before cpf, 30.5%... If actual income after cpf, 38.1%.

So still below the 50% threshold if that is indeed something they keep in mind.

It's the FF rating la, that one is the potential sticking point. But if they look at the actual number it's just a few points below EE.
Click to expand...

you are right, they look at nett after cpf

mine was 28% of nett for repayment
 
M

melbourne10

Senior Member
Joined
May 12, 2010
Messages
975
Reaction score
1
The CSO from Citi who assisted me last round called me and invited me to apply again. They needed my current balance to refresh and appear on my CBS report. (Carlingford might remember the issue I had with regulator approval.)

Also, the CSO told me that tenor does not really play a part. They are more concerned with whether you have other loans to service.

He also mentioned that for consumers, we will see the total balance 2 months behind the banks. So if we buy CBS report now we can only see up to Jan, but on the bank side, after middle of the month, they can see the total balance alrdy.

Will submit a fresh application to them based on the new information received today. Got a feeling that my HSBC one buang alrdy. 😏
 
N

Njwnjw

Junior Member
Joined
Mar 15, 2017
Messages
1
Reaction score
0
aang1971 said:
Same thing happens to me, a week to get approval letter

If you OCBC card, you can call them, they will tell you suspension due to DCP
Click to expand...

Bro Aang or any bros can advice how long the dcp bank take to disburse funds to each bank? I understand on paper is 5 days. But actual practise is how long. Anyone had encountered before yet?
 
C

Crazy12

Junior Member
Joined
Nov 8, 2004
Messages
92
Reaction score
0
melbourne10 said:
I can get the form on the spot if I go to the BOC office?
Click to expand...

Yes bro ... BOC building 3rd floor. I suggest u call them before gng down. Arrange with one officer and meet them there. They ll advise u. If u got all docs ready lagi good. Go there fill in application form n submit. Ask them how many years tenure is more advantageous to your case.
 
C

Carlingford

Senior Member
Joined
Feb 21, 2017
Messages
796
Reaction score
0
Yeah..I remember it..Should your HSBC application buang....Can consider Citi again....U applying for CCS counselling session already ? Can consider since got waiting time in between.

melbourne10 said:
The CSO from Citi who assisted me last round called me and invited me to apply again. They needed my current balance to refresh and appear on my CBS report. (Carlingford might remember the issue I had with regulator approval.)

Also, the CSO told me that tenor does not really play a part. They are more concerned with whether you have other loans to service.

He also mentioned that for consumers, we will see the total balance 2 months behind the banks. So if we buy CBS report now we can only see up to Jan, but on the bank side, after middle of the month, they can see the total balance alrdy.

Will submit a fresh application to them based on the new information received today. Got a feeling that my HSBC one buang alrdy. 😏
Click to expand...
 
M

melbourne10

Senior Member
Joined
May 12, 2010
Messages
975
Reaction score
1
Carlingford said:
Yeah..I remember it..Should your HSBC application buang....Can consider Citi again....U applying for CCS counselling session already ? Can consider since got waiting time in between.
Click to expand...

Prepping my Citi docs tomorrow, he told me to get ready first then once the HSBC decision comes, I can submit the Citi application straightaway. Just have to call him.

Will KIV the CCS session for now. One last ride (as they say in Fast and Furious).
 
O

omorfiegoni

Junior Member
Joined
Mar 15, 2017
Messages
4
Reaction score
0
Hi guys, my dcp application got rejected. Reason becos i dont meet e requirement of that 12x of monthly salary (eg. My pay per month is 4.5k but my debt is 40k). Any other suggestions where to get help? Im down with zero balance after paying all my cc bills😞
 
M

melbourne10

Senior Member
Joined
May 12, 2010
Messages
975
Reaction score
1
omorfiegoni said:
Hi guys, my dcp application got rejected. Reason becos i dont meet e requirement of that 12x of monthly salary (eg. My pay per month is 4.5k but my debt is 40k). Any other suggestions where to get help? Im down with zero balance after paying all my cc bills😞
Click to expand...

For your situation I advise CCS. Next mon got Info Talk. Pls sign up bro.
 
Status
Not open for further replies.
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ Forums. Forum members and moderators are responsible for their own posts. Please refer to our Community Guidelines and Standards and Terms and Conditions for more information.
Top