Debt consolidation Plan

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CeSaRiO

CeSaRiO

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Centralcoast

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Taurusmay said:
Hi bro and sis,

Just to share with you my scary experiences. I think some bro remember me when i wrote on this chat group here that i am a AA. My income has dropped due to bad economy and my total debt is 80k+. I hv nv a prblem paying min all this while when after HSBC trying to sell me this DCP. I applied and i was declined by HSBC for my first application. After that they sent me a letter stating my income has dropped and claimed that i hv over limit usage my unsecured credit facilities. For that they request me that either i pay up the over limt or take up their own debt relief plan and my card will be suspended. I hv no choice but to accept their plan and post out their form. This afternoon they call me they did not receive and force me to pay the overlimit sum. I feel so stress up.
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It was a mistake to apply from the bank that u owe the most becos they might re-adjust ur credit limit based on your latest salary if it isn't approved.
 
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Twilightzone

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Taurusmay said:
Hi bro and sis,

Just to share with you my scary experiences. I think some bro remember me when i wrote on this chat group here that i am a AA. My income has dropped due to bad economy and my total debt is 80k+. I hv nv a prblem paying min all this while when after HSBC trying to sell me this DCP. I applied and i was declined by HSBC for my first application. After that they sent me a letter stating my income has dropped and claimed that i hv over limit usage my unsecured credit facilities. For that they request me that either i pay up the over limt or take up their own debt relief plan and my card will be suspended. I hv no choice but to accept their plan and post out their form. This afternoon they call me they did not receive and force me to pay the overlimit sum. I feel so stress up.
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Right now, can they re-consider you for DCP else let you submit the application for their debt relief plan?

Ask to talk to someone who can listen instead of demanding.
 
CeSaRiO

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melbourne10

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CeSaRiO said:
Well, at least yours is a critical hit which they approved. My understanding is that now they're in need of revenue growth, maybe that's why approval criteria might have been simplified for revenue purposes.
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Maybe realized initially too strict so now they open up and more willing to approve.

Carlingford, have they opened ur savings account, are your cards suspended?
 
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melbourne10 said:
Maybe realized initially too strict so now they open up and more willing to approve.

Carlingford, have they opened ur savings account, are your cards suspended?
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It won't be that fast. It takes 2 days for savings account to show and 4 day before they start disbursing the dcp amount out.
 
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Taurusmay

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Twilightzone said:
Right now, can they re-consider you for DCP else let you submit the application for their debt relief plan?

Ask to talk to someone who can listen instead of demanding.
Click to expand...
i actually spoken to one HSBC officer which she will email me the debt relief plan which if i go for it my card will be suspended and CBS will be informed too. Just worried if other banks will also come after me after this. So sad.....
 
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Taurusmay said:
i actually spoken to one HSBC officer which she will email me the debt relief plan which if i go for it my card will be suspended and CBS will be informed too. Just worried if other banks will also come after me after this. So sad.....
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It might be the case if this happens.

Will you be able to share with your latest income, what is your BTI ratio?
 
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Carlingford

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Your case I would suggest u signed up for the next available CCS info talk session immediately ! These banks are damn ruthless & fast reaction when it comes to debt recovery..The waiting time for a one to one counselling session is 3 weeks from submission of blue form, but for your case after the info talk session u can approach the speaker on the steps for an expedited process..

Taurusmay said:
debt 84k / income 5k
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HTTPS://restartingmylifeblog.wordpress.com/ HardwareZone Forums app
 
CeSaRiO

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Taurusmay said:
debt 84k / income 5k
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I suggest you try with Maybank.

I've just spoke to BOC and their cap is 16x. Avoid Citi as well. Given your situation I will suggest you to apply first with Maybank while delaying the HSBC response.
 
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If government allow us to draw one time from cpf to clear debt I don't mind they
Ban me from signing credit card.
 
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