Debt consolidation Plan

[goenitz33]

What was yr NOA

45 nia

 

[melbourne10]

Just to share an update..I managed to get my wife to spare me some $ to help me 'dong' min payment & living expenses until June..Hopefully can see some light for DMP by then

You have a good lady by ur side bro.

 

[melbourne10]

Applied HSBC on 22/2/17. Today, CSO finally called. Good news, DCP approved. Tenure 5 years, will be based on Feb promo rate since submitted in Feb. Now, waiting for approval Dept to contact to go further.

Hopefully you guys get approval too.

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What number did they call u from ah. I got home to find 3 missed calls on the phone I use for bank transactions.

 

[melbourne10]

What number did they call u from ah. I got home to find 3 missed calls on the phone I use for bank transactions.

Oh nvm I think it's from BOC. 6412xxxx number.

 

[Centralcoast]

Oh nvm I think it's from BOC. 6412xxxx number.

So I think it's good news from boc. Boc process application quite fast lei.

 

[multi]

What number did they call u from ah. I got home to find 3 missed calls on the phone I use for bank transactions.

It's the CSO from Tampines HSBC branch call me. The same person that I met and submit all forms to.

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[multi]

Rating is cc... So that explain.

Mine is BB but have larger debt and lower income. So rating is most important than $ figures.

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[Centralcoast]

Mine is BB but have larger debt and lower income. So rating is most important than $ figures.

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I'm also BB hopefully will be approved.

 

[multi]

I'm also BB hopefully will be approved.

Should be approved, good luck.

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[Centralcoast]

Should be approved, good luck.

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Thanks, anyway when does HSBC check on ur cbs report? It should be reflected on ur free report. So at least I know how long it will takes to get approval after they check on cbs rating

 

[melbourne10]

So I think it's good news from boc. Boc process application quite fast lei.

Nah I ask for form only. Nothing submitted.

 

[melbourne10]

Mine is BB but have larger debt and lower income. So rating is most important than $ figures.

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Depends on many factors. Seems like the only sure reject is HH, also > 18 months. But the rule is don't be too optimistic cuz got some good rating also rejected cuz of other factors.

 

[multi]

Thanks, anyway when does HSBC check on ur cbs report? It should be reflected on ur free report. So at least I know how long it will takes to get approval after they check on cbs rating

If they check your CBS means approval coming soon. I checked every other day too but no CBS visit by them until the CSO called me to say it's approved and I went in to check and yes indeed they have check my latest CBS . In fact, they check 2 times, one for DCP and one for Credit card which HSBC will be providing.

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[Centralcoast]

If they check your CBS means approval coming soon. I checked every other day too but no CBS visit by them until the CSO called me to say it's approved and I went in to check and yes indeed they have check my latest CBS . In fact, they check 2 times, one for DCP and one for Credit card which HSBC will be providing.

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I heard from sales agent they have checked my applications twice, hopefully will get an outcome next week

 

[melbourne10]

If they check your CBS means approval coming soon. I checked every other day too but no CBS visit by them until the CSO called me to say it's approved and I went in to check and yes indeed they have check my latest CBS . In fact, they check 2 times, one for DCP and one for Credit card which HSBC will be providing.

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Not rly, they cross check the CBS report you provide as well.

 

[Centralcoast]

Not rly, they cross check the CBS report you provide as well.

So only god knows when they will be checking for approval lol

 

[aang1971]

Depends on many factors. Seems like the only sure reject is HH, also > 18 months. But the rule is don't be too optimistic cuz got some good rating also rejected cuz of other factors.

if repayment is more than 50% of take home pay think gone case?

 

[Centralcoast]

if repayment is more than 50% of take home pay think gone case?

I think they also look at your previous payment trend. If u can manage this repayment amount previously, then should not be a problem

 

[melbourne10]

I think they also look at your previous payment trend. If u can manage this repayment amount previously, then should not be a problem

That's the logical layman speaking. Banks can be quite illogical, heng suay one. Lol.

 

[Carlingford]

Thanks mate..At least I got until June or July to sort out this DMP...3-4 months should be a realistic timeline

You have a good lady by ur side bro.