Debt consolidation Plan

Status
Not open for further replies.
N

nitequeenangel

Junior Member
Joined
Mar 30, 2017
Messages
48
Reaction score
0
melbourne10 said:
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.
Click to expand...

Now no more alone. Cause all of us here giving each other moral support even though anonymously . :s13:
 
N

nitequeenangel

Junior Member
Joined
Mar 30, 2017
Messages
48
Reaction score
0
endorphin said:
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 😭😭😭
Click to expand...

Yup I'm glad I did too. Hope u get the call from them soon too. Same here waiting game. Hehe.
 
goenitz33

goenitz33

Arch-Supremacy Member
Joined
Sep 5, 2007
Messages
15,352
Reaction score
2
well i just told my wife the extent of the hole that i am in.

hehe she didnt say anything much though (cause shes 1/2 the cause of it and 1/2 of it is actually hers lol)
 
M

melbourne10

Senior Member
Joined
May 12, 2010
Messages
975
Reaction score
1
Actually why are you even on HX? Bcos normally the most chui rating is still HH. HX and HZ are special case.
 
M

melbourne10

Senior Member
Joined
May 12, 2010
Messages
975
Reaction score
1
Haha ok la I won't say anything. I blew out one card for my friend's stag night. That bugger got kid alrdy I still haven't pay finish tmd.
 
M

melbourne10

Senior Member
Joined
May 12, 2010
Messages
975
Reaction score
1
What are the costs of borrowing?

This would comprise the interest payable as well as any fees or other charges applied.

Advertised and effective interest rates

You will come across the terms advertised and effective interest rates.

The effective interest rate is the actual interest rate you pay for using the loan facility. This may be different from the advertised rate. Ask the lender for both the advertised rate and effective interest rate. If you are offered different packages with different interest rates, loan periods and repayment methods, compare the effective interest rate for each package to find out which package costs the least in interest payments.

The higher the effective interest rate, the more interest you will be paying. But do note that interest payments are not the only cost of borrowing money. Other charges may apply, including legal, processing and default fees.

The effective interest rate may be higher than the advertised rate due to the way interest is calculated. For example, in a flat rate loan, interest is calculated upfront and added on to the loan amount. In this case, the effective interest rate is higher than the advertised rate because the same rate (advertised rate) is applied throughout the loan period even though the outstanding loan amount has reduced due to monthly repayments. In the case of the monthly rest method of interest calculation, the advertised rate is the same as the effective interest rate, because interest is calculated based on the reduced balance of the loan.

It is not always the case that you should take a package with a lower effective interest rate. For instance, you may decide on a package with a higher effective interest rate if you intend to pay it off quickly and are able to do this without incurring an early repayment penalty.

http://www.moneysense.gov.sg/understanding-financial-products/credit-and-loans/things-to-watch-out-for.aspx
 
T

Twilightzone

Member
Joined
Mar 30, 2017
Messages
103
Reaction score
0
Are we able to list down the interest rate given for those aproved DCP?

I have yet to receive my official letter but the officer confirmed the interest charged.

DBS - 12.99% throughout 6 years. EIR will apply if never make payment to outstanding
Processing fee - $99
Free CC with 1 x monthly income credit limit with NO annual fee
 
Last edited:
C

Centralcoast

Member
Joined
Mar 16, 2017
Messages
278
Reaction score
0
Twilightzone said:
Are we able to list down the interest rate given for those aproved DCP?

I have yet to receive my official letter but the officer confirmed the interest charged.

DBS - 12.99% throughout 6 years. EIR will apply if never make payment to outstanding
Processing fee - $99
Free CC with 1 x monthly income credit limit with NO annual fee
Click to expand...

Well, will let u know when received the official letter
 
N

nitequeenangel

Junior Member
Joined
Mar 30, 2017
Messages
48
Reaction score
0
melbourne10 said:
Yup, just wondering.
Click to expand...

Cause one of the CIMB agent filed a writ summons and bankruptcy record against me.

The writ of summons was delivered to my house when I default payment for 2 months. Then managed to negotiate with her. Paid CIMB the amount that I promised her.

Even gave her an alternative number to call me cause my previous number had some problems with the sim card. But when she didn't call me I thought everything was settled. So imagine the shock I received when I checked the letter box and saw that she filed the bankruptcy record against me. Called the lawyer and explain what happened. And she said to talk to the agent and to get her name as well.

So called the agent again and quarreled with her. Cause her reasons for proceeding with it was so unreasonable. She said she can't get a hold of me. I asked her did she get me through the new number and she said she just follow the system records. Guess that day I was too damn pissed w her cause for the first time I f*** her off. :s13: Never in my life had I quarreled with someone that bad especially an agent. Cause usually I lanlan just diam diam one. Already told her my new number and she even got the cheek to said okay will take note. And then she giving me a different story hence she proceeded with it.

So that explain the rating of HX. And I don't even know how to get rid of that cause it looks like a public record right which will b like recorded forever right? please do correct me if I'm wrong.
 
C

Centralcoast

Member
Joined
Mar 16, 2017
Messages
278
Reaction score
0
nitequeenangel said:
Cause one of the CIMB agent filed a writ summons and bankruptcy record against me.

The writ of summons was delivered to my house when I default payment for 2 months. Then managed to negotiate with her. Paid CIMB the amount that I promised her.

Even gave her an alternative number to call me cause my previous number had some problems with the sim card. But when she didn't call me I thought everything was settled. So imagine the shock I received when I checked the letter box and saw that she filed the bankruptcy record against me. Called the lawyer and explain what happened. And she said to talk to the agent and to get her name as well.

So called the agent again and quarreled with her. Cause her reasons for proceeding with it was so unreasonable. She said she can't get a hold of me. I asked her did she get me through the new number and she said she just follow the system records. Guess that day I was too damn pissed w her cause for the first time I f*** her off. :s13: Never in my life had I quarreled with someone that bad especially an agent. Cause usually I lanlan just diam diam one. Already told her my new number and she even got the cheek to said okay will take note. And then she giving me a different story hence she proceeded with it.

So that explain the rating of HX. And I don't even know how to get rid of that cause it looks like a public record right which will b like recorded forever right? please do correct me if I'm wrong.
Click to expand...

I think u can write in to credit bureau
 
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