Debt consolidation Plan

[melbourne10]

MAS ruling come this june or july 18 months

Yup I think most banks have the < 18 month thing so they don't have to deal with scenarios like a client having an approved DCP plan but balance > 18 months then the 1x monthly card must be suspended.

 

[Louis81]

Yup I think most banks have the < 18 month thing so they don't have to deal with scenarios like a client having an approved DCP plan but balance > 18 months then the 1x monthly card must be suspended.

Now BOC 4 days.
Rating EE. 12.5 months.
If like this also cannot then nothing to say.

 

[melbourne10]

Lol. I am FF, DCP amount is 1.12x annual income. That's 13.5 months? Lower end of > 12, < 18 leh. Yours also.

Oh well we wait for the banks to do what they have to do la.

Most tmd thing is my number score is just 8 points away from EE.

 

[Louis81]

Lol. I am FF, DCP amount is 1.12x annual income. That's 13.5 months? Lower end of > 12, < 18 leh. Yours also.

Oh well we wait for the banks to do what they have to do la.

Most tmd thing is my number score is just 8 points away from EE.

Anyway i just open one BOC saving acct

 

[melbourne10]

Anyway i just open one BOC saving acct

Why leh? Is that counted as "existing customer"?

 

[Louis81]

Why leh? Is that counted as "existing customer"?

Haha duno if approve can fight for existing customer why not

 

[melbourne10]

Haha duno if approve can fight for existing customer why not

Yah haha no harm la. U enjoy ur weekend, next week see what the banks say ba

 

[Louis81]

Why leh? Is that counted as "existing customer"?

Dont hv to be credit card holder mah
At the same time if i chk online got additional acct then dcp on haha

 

[Louis81]

Yah haha no harm la. U enjoy ur weekend, next week see what the banks say ba

The gal also quite chio haha

 

[goenitz33]

just had a chat with a citibank officer yeah.

u need to be below 16 times to have a good chance to get it approved.

 

[melbourne10]

just had a chat with a citibank officer yeah.

u need to be below 16 times to have a good chance to get it approved.

I asked if my FF is ok, my Citi CSO say should be fine. See how lo.

 

[trynot2bankrupt]

I applied to CIMB due to its low advertised rates, but received letter that I got rejected...

Rating: CC
Outstanding: $53,000+
Monthly Salary: $4125

Just a question... Do they include bonus into the calculation?

 

[goenitz33]

I applied to CIMB due to its low advertised rates, but received letter that I got rejected...

Rating: CC
Outstanding: $53,000+
Monthly Salary: $4125

Just a question... Do they include bonus into the calculation?

different bank different calculation method.

 

[melbourne10]

I applied to CIMB due to its low advertised rates, but received letter that I got rejected...

Rating: CC
Outstanding: $53,000+
Monthly Salary: $4125

Just a question... Do they include bonus into the calculation?

They look at NOA amount. I think your balance is on the low side that's why.

 

[melbourne10]

different bank different calculation method.

Agree. HSBC and Citi calculated everything differently.

 

[Carlingford]

Who take bonus into calculation ? Seem to be HSBC

Agree. HSBC and Citi calculated everything differently.

 

[melbourne10]

Who take bonus into calculation ? Seem to be HSBC

HSBC was close to my NOA amount. Citi included the "special" bonus I received in 2016, one off bonus.

 

[goenitz33]

well anyway i also registered for CCS talk as well since this DCP seems to be quite hoax lol.. all the "hidden" interior criteria is annoying.

 

[melbourne10]

Based on sharing here we kind of uncovered some of them alrdy. But of course nothing is certain la. Zzz

 

[goenitz33]

Based on sharing here we kind of uncovered some of them alrdy. But of course nothing is certain la. Zzz

yup.

nothing is certain is definitely correct.

thus i kinda see this DCP as not effective.

also got another thing to note is how much so called of this "debt" is the banks willing to take on.

Risk assessment u know.