Debt consolidation Plan

[BBNT05]

AA best, HH worst

I'm sorry everyone.. cock eyes. I'm GG. sorry sorry to give ppl hope for nothing

 

[melbourne10]

U mean HH rating is worst?? actually how do we read the rating? AA is the good rating ?

Then apart from overall, they look at past 12 months payment
AAAAAAAAAAAA (12 months) means u can keep up with payments
If AAA for all banks for past 12 months, it's alrdy one hurdle crossed
But have a few more hurdles -.-"""

 

[melbourne10]

I'm sorry everyone.. cock eyes. I'm GG. sorry sorry to give ppl hope for nothing

Yeah. So means they consider up to GG bcos the common knowledge in this thread is HH has a high chance of being rejected. No biggie, at least it was clarified.

 

[BBNT05]

Yeah. So means they consider up to GG bcos the common knowledge in this thread is HH has a high chance of being rejected. No biggie, at least it was clarified.

Heehee :X

Saw your post that yours got approved too. Congrats!

 

[melbourne10]

Heehee :X

Saw your post that yours got approved too. Congrats!

Haha thanks. Yep, under Citi. They are in the process of paying alrdy. By this weekend I am only servicing one bank loan. Still broke but not that broke cuz at least the interest has dropped from 26% to 10.5%, and I know after 5 years I am free of this bull s**t.

 

[BBNT05]

Haha thanks. Yep, under Citi. They are in the process of paying alrdy. By this weekend I am only servicing one bank loan. Still broke but not that broke cuz at least the interest has dropped from 26% to 10.5%, and I know after 5 years I am free of this bull s**t.

It took them how Long later to start processing payment to other banks. The guy told me mine was approved last Thursday. Saw a new CC created last sat on my ibanking.

I can't wait to finish the 5 years and out of this as well.

 

[melbourne10]

It took them how Long later to start processing payment to other banks. The guy told me mine was approved last Thursday. Saw a new CC created last sat on my ibanking.

I can't wait to finish the 5 years and out of this as well.

Very fast. Their disbursement team will call you, then within 2-3 business days u will see MEPS inward transfers on all your accounts with other FIs. This is Citi's procedure.

 

[melbourne10]

In fact my Citi cards have been taken off suspended status.

BUT the cards have been handed over to wifey. Haha... -.-"""

 

[BBNT05]

Very fast. Their disbursement team will call you, then within 2-3 business days u will see MEPS inward transfers on all your accounts with other FIs. This is Citi's procedure.

Hmmm... Okay. Shall see if uob works the same way anot. Your Wife must be so happy. Control your spending

 

[melbourne10]

Hmmm... Okay. Shall see if uob works the same way anot. Your Wife must be so happy. Control your spending

Haha she doesn't know the full extent. I told her I trying to control my spending so pls hide these cards for me. That's all.

 

[BBNT05]

Haha she doesn't know the full extent. I told her I trying to control my spending so pls hide these cards for me. That's all.

Oh..................... No wonder. Haha.
Can i ask u? What RAS?

 

[melbourne10]

Oh..................... No wonder. Haha.
Can i ask u? What RAS?

Repayment assistance scheme, offered in 2015. Any amount > 12x will be converted to a 10 year loan (or something like that). The rest subject to normal interest.

Frankly this DCP is better.

 

[melbourne10]

Repayment assistance scheme, offered in 2015. Any amount > 12x will be converted to a 10 year loan (or something like that). The rest subject to normal interest.

Frankly this DCP is better.

The Repayment Assistance Scheme (RAS) is a new centralised repayment solution administered by Credit Counselling Singapore (CCS) that offers a monthly instalment plan that helps the borrower pays down the amount of unsecured debt in excess of 12 times the borrower’s monthly income. This is to be in line with the industry-wide borrowing limit of 12 times of monthly income that will come into effect on 1 June 2019.

RAS is offered at a lower interest rate of 5% per annum and over a fixed period of 8 years to help reduce the borrower’s debt servicing burden.

 

[BBNT05]

Repayment assistance scheme, offered in 2015. Any amount > 12x will be converted to a 10 year loan (or something like that). The rest subject to normal interest.

Frankly this DCP is better.

Oh.... got it. Means government going to control the loan amount

 

[Carlingford]

Can try SCB..They didn't ask for other loan commitments in the application form

So maybe that could be the reason.

My HDB(OCBC) is finance by CPF monthly. Car loan finance by my partner, but.... it's under my name thou so to them it's already another repayment.

If rejected by Citi, I just have to get on with it and continue monthly payments

Don't think the 5th, 6th, 7th applications will be successful.

 

[trojanguy]

erm u trolling here ?

3k ?

actually im not. really have debt 3k but dont want to pay it lump sum

 

[member8]

U got approved?

Three DCP applications rejected so far! Lol

 

[deadlockb]

Very fast. Their disbursement team will call you, then within 2-3 business days u will see MEPS inward transfers on all your accounts with other FIs. This is Citi's procedure.

did u CANCEL your cards or just left them in suspended mode? i have cancelled few cards.No point in paying annual fee for next 5 years, when we cant use that card.

 

[tanks51]

Finally after a long wait of 1 whole month HSBC reject my DCP. Waited so long just for an answer.

For people having intention to apply HSBC try to avoid it if you cannot wait.

 

[Carlingford]

I still waiting for their rejection

Finally after a long wait of 1 whole month HSBC reject my DCP. Waited so long just for an answer.

For people having intention to apply HSBC try to avoid it if you cannot wait.