Debt consolidation Plan

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Carlingford

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Actually can call up the customer service hotline & ask now liao. I notice that for BOC, SCB, Maybank..My rejections all came a day after CBS check .. so if yr application survive today then chances of approval is high !

idoitboy said:
Thanks thanks. I just received the email trigger from Credi Bureau as such:

This monitor has been triggered due to "a credit enquiry" on your credit file.

Enquiry Date: 06/04/2017
Enquirer: BANK OF CHINA
Enquiry Type: New Application
Product Type: Debt Consolidation Loan
Account Type: Single

Well I guess all left is to pray
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KKK1978

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This CBS rating also like a roller coaster.. wonder in fact how often it changes?

cant be I keep paying to see my report every week right?
 
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Centralcoast

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KKK1978 said:
This CBS rating also like a roller coaster.. wonder in fact how often it changes?

cant be I keep paying to see my report every week right?
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Why are u so concern abt cbs rating every other week? It is only important when u need to apply for loans other than that it's useless
 
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idoitboy

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nurinqis

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HSBC called me. They say have to declare all credit cards/credit line I have even though not using. I didn't declare 2 banks because my outstanding not so much which I can clear soon and wanted to keep for emergency purpose (if any). Wonder is it all credit cards/credit line even those with zero outstanding will be suspended if take up DCP? anyone knows?
 
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rayden

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Weird, SCB just called and said he can't proceed with my application with them and I'm still waiting for Maybank's update. There's no enquiry on my CBS from SCB and he said it's not due to my NOA. Not sure what's happening
 
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Centralcoast

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nurinqis said:
HSBC called me. They say have to declare all credit cards/credit line I have even though not using. I didn't declare 2 banks because my outstanding not so much which I can clear soon and wanted to keep for emergency purpose (if any). Wonder is it all credit cards/credit line even those with zero outstanding will be suspended if take up DCP? anyone knows?
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No use keeping for emergency purposes becos once dcp approved all banks will suspend all credit facilities u have with them even those that u did not declare
 
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Centralcoast

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KKK1978 said:
cos I am apply for DCP. If it keeps changing, it will affect my chances isn't it?
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Just submit whichever cbs report u have and let the bank decide. Anyway they will enquire it on every application so no point paying for report every week
 
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Carlingford

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idoitboy said:
From your experience do you know if bank are more inclined to approve the application for those with longer or shorter repayment period
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From what the HSBC CSO told me, the critical factor is not the tenure itself, but the % of the monthly repayment amount against your take-home pay. If more than 50% then it could have an adverse effect on your application.
 
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Carlingford

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nurinqis said:
HSBC called me. They say have to declare all credit cards/credit line I have even though not using. I didn't declare 2 banks because my outstanding not so much which I can clear soon and wanted to keep for emergency purpose (if any). Wonder is it all credit cards/credit line even those with zero outstanding will be suspended if take up DCP? anyone knows?
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It's clearly stated under the terms & conditions of the DCP that ALL unsecured facilities will be suspended/closed. (unless those specifically excluded like reno loan,etc..)
 
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Carlingford

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Centralcoast said:
Just submit whichever cbs report u have and let the bank decide. Anyway they will enquire it on every application so no point paying for report every week
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Just submit what you have on hand, anyway the version we have access to is different from what the banks has.
 
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Carlingford

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rayden said:
Weird, SCB just called and said he can't proceed with my application with them and I'm still waiting for Maybank's update. There's no enquiry on my CBS from SCB and he said it's not due to my NOA. Not sure what's happening
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Is it pending any documents ? Did he specifically mention the reason why ?
 
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rayden

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Carlingford said:
Is it pending any documents ? Did he specifically mention the reason why ?
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No leh, I've submitted all the necessary documents but they can't proceed. He did not share any reason too, wonder if it's due to Maybank's application that's why they can't proceed.
 
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Centralcoast

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Carlingford said:
From what the HSBC CSO told me, the critical factor is not the tenure itself, but the % of the monthly repayment amount against your take-home pay. If more than 50% then it could have an adverse effect on your application.
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Mine is more than 50% of take home on 4 yrs tenor
 
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