Debt consolidation Plan

[Twilightzone]

Citibank will only accept those earning above $60k. Based on my noa last yr I am eligible but my purpose is not to get cc from them, so what for they told me to apply for their cc instead of helping me with their DCP?

Did they offer you to take normal loan (aka their credit line facilities) instead of DCP?

 

[nitequeenangel]

But.. what will happen if the first application is rejected? Will the rest of the bank try again?

First application for all banks or either one of the banks you mean? If either one, i will just need to wait for the other one. if all is not successful then lanlan wait a few months later and apply again lor.

 

[Twilightzone]

I did tell the cso my estimated debt amt n 12x income, n he said should be ok after adding in those extra amounts. But my total income for my noa is way much higher than my 12x income becos of my end yr bonus n extra mid yr bonus

Nevertheless, just submit and wait for updates.

Sometimes, the least you expect.. the more you get

 

[Twilightzone]

First application for all banks or either one of the banks you mean? If either one, i will just need to wait for the other one. if all is not successful then lanlan wait a few months later and apply again lor.

Good luck and don't give up.

 

[melbourne10]

But.. what will happen if the first application is rejected? Will the rest of the bank try again?

From what I understand:

You submit BOC, HSBC, Maybank for example.

They process.

BOC rejects. They send out a letter to inform you. Nothing goes on the DC registry.

HSBC and Maybank continue processing.

Maybank approves. They update the DC registry.

Next day, HSBC approves. They cannot update the DC registry.

I may be wrong but this is what I understand from several sources.

 

[endorphin]

Did they offer you to take normal loan (aka their credit line facilities) instead of DCP?

No they din. Throughout the whole phone conversation the cso was only talking about applying for their cc.

 

[goenitz33]

u should put Next Month HSBC approve and discovered their competitor approves 1 month ago

 

[melbourne10]

No they din. Throughout the whole phone conversation the cso was only talking about applying for their cc.

Tbqh their DCP staff also quite overwhelmed alrdy. Processing time has gone up.

 

[Centralcoast]

Tbqh their DCP staff also quite overwhelmed alrdy. Processing time has gone up.

Yeah I think all banks are getting overwhelming applications thus processing time has increased

 

[nitequeenangel]

Good luck and don't give up.

Thanks. It's great that I came across this forum. Cause due to the debts accumulating every month, I was very very depressed last year. Even had thoughts of ending my life cause I feel like I'm alone in this. But thanks to a few awesome colleagues I managed to pull through.

 

[endorphin]

Tbqh their DCP staff also quite overwhelmed alrdy. Processing time has gone up.

Ya. The ocbc cso also said they received many applications for this DCP. That's why I also dun dare to keep calling him to ask about my application status

 

[endorphin]

Thanks. It's great that I came across this forum. Cause due to the debts accumulating every month, I was very very depressed last year. Even had thoughts of ending my life cause I feel like I'm alone in this. But thanks to a few awesome colleagues I managed to pull through.

We can definitely pull through, just hve to slog n endure for few more years.

(Think we are one of the few females here )

 

[Centralcoast]

Thanks. It's great that I came across this forum. Cause due to the debts accumulating every month, I was very very depressed last year. Even had thoughts of ending my life cause I feel like I'm alone in this. But thanks to a few awesome colleagues I managed to pull through.

Owe money pay money, don't need to pay with life. Your life is definitely worth more than wat u owe the banks. Try dcp if not go CCS to get help. Worst case scenario declared bankrupt , there's pretty nothing much they can do to u.

 

[melbourne10]

Thanks. It's great that I came across this forum. Cause due to the debts accumulating every month, I was very very depressed last year. Even had thoughts of ending my life cause I feel like I'm alone in this. But thanks to a few awesome colleagues I managed to pull through.

Lucky u didn't! Aiyo. Bcos the debt doesn't... Disappear. Ur family will kena. Don't mind me saying la.

 

[nitequeenangel]

We can definitely pull through, just hve to slog n endure for few more years.

(Think we are one of the few females here )

Yeah have to slog and endure. And i hope every single one of us will pull through all of this. and may everyone get an approval loan from any of the banks.

Yup it looks like it. A bit paisey too actually to join the forum in the first place cause looks like all male. Hehe. But glad to know there are some females here. And glad for this thread to exist where people can get some support and encouragement.

 

[melbourne10]

Haha male or female, this forum is meant to share stuff that we can't tell others in real life ma. Most of us were suffering alone. Now at least got moral support.

 

[Centralcoast]

Haha male or female, this forum is meant to share stuff that we can't tell others in real life ma. Most of us were suffering alone. Now at least got moral support.

Haha ya lor, how can we go round telling our friends or family about it. Only can get moral support anonymously

 

[melbourne10]

Wifey suspected but didn't confirm. Only you ppl know the full extent. Haha. But when I asked her to keep my cards I kena one round of "I told you so" zzz.

 

[nitequeenangel]

Owe money pay money, don't need to pay with life. Your life is definitely worth more than wat u owe the banks. Try dcp if not go CCS to get help. Worst case scenario declared bankrupt , there's pretty nothing much they can do to u.

Yeah i know. It's just that I was all alone in settling my debts with no one giving me moral support hence the thought. But hope to never again have those thoughts. Trying DCP first. if doesn't work, then have to try CCS. I can't declare bankrupt cause it will affect my marriage.

 

[endorphin]

Ya.. at least it's easier to vent here than real life. Initially I also din dare to comment here, but I'm glad that I did. Hope my application will hve news soon, since ocbc had already made enquiry to my **. Hate this waiting feeling