Debt consolidation Plan

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zaskarace

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SalmonSushi said:
I'm experiencing this with my credit card when it's being reflected on my UOB iBanking. 'Payment due on [DD-MM-YYYY] as $0.00' meaning they have received your payment for that statement month and you are not required to make any more payment till your next statement cycle.

I strongly believe is the same as DCP because Credit Cards, Line of Credit and Personal Loan are classified as unsecured facilities along with DCP, and it should be reflected the same format under UOB iBanking.

Hope this helps.
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Appreciate the help!
 
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RebornMyLife88

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SalmonSushi said:
I encountered the same scenario as you, they called me up requesting for my latest 12 months CPF contribution statement when I had submitted my latest year Notice of Assessment along with the latest month payslip but eventually my application was being rejected. I further e-mailed them asking whether is it possible to appeal for my application but was being turned down.

My Rating is FF with score of about 1700 to 1790
Outstanding: $49,000
Annual income reflected in latest NoA: $47,000

Base on my calculation on your DTI ratio is more than 24 times. I would say chances of approval is slim.

Just trying to be honest with you though.
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Yeah I figured the chances are slim but the CSO did mention they accepted people with BTI above 25 times as well so I am hope there's some glimmer of hope?

I just wonder why will the processing team ask for my 2 other bank statements after seeing that my BTI is already above 24.

Hopefully people here went through identically case like me and got approved.
 
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SalmonSushi

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RebornMyLife88 said:
Yeah I figured the chances are slim but the CSO did mention they accepted people with BTI above 25 times as well so I am hope there's some glimmer of hope?

I just wonder why will the processing team ask for my 2 other bank statements after seeing that my BTI is already above 24.

Hopefully people here went through identically case like me and got approved.
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I hope your application will be approved. My applications with HSBC and MBB wasn’t successful because when MBB requested me to submit my latest 12 months CPF contribution, I know I cannot ‘hiong’ them already as my CPF contribution to my debt will be 11x only.

The reason why they requested for the 2 bank statements from you is because the 2 bank statements is not the latest month during processing.

Nonetheless, I hope the best for you!
 
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RebornMyLife88

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SalmonSushi said:
I hope your application will be approved. My applications with HSBC and MBB wasn’t successful because when MBB requested me to submit my latest 12 months CPF contribution, I know I cannot ‘hiong’ them already as my CPF contribution to my debt will be 11x only.

The reason why they requested for the 2 bank statements from you is because the 2 bank statements is not the latest month during processing.

Nonetheless, I hope the best for you!
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Thank you! I hope for the best as well.

The CSO said this sentence "If they are not going to offer you a DCP they will outright reject you". So fingers cross and hope they give me this chance.
 
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kenzai79

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Dcp application unsuccessful. CC review downwards.

Reading the posts in shadow, and was encouraged by many positive posts.

Applied for dcp w mbb and Hsbc. Both rejected. What’s shocking is that MBB did a credit review on my cc limit citing reduction of income in my documents. The review was a 10k downwards .

Now, mbb is requesting for the excess amount to be paid immediately :( ....with this, it has in fact exploded right in my face.....

I have maintained stable payment for months and rating was at 1712 before I applied for dcp.




Jojodespo said:
You mean commission not communism haha!

Anyway yes, many banks accept HH, tho it depends how bad a HH your rating is. Usually most banks accept higher than 1650. Lower, abit difficult.

Banks that accept HH - UOB, HSBC, MAYBANK

Other banks won’t block your card if your DCP gets rejected. The only time other banks will demand full payment is only if you miss payment for more than 2-3 months. Try not to be late in payment, it does affect your DCP chances.

I had to maintain stable payment for 6 months before my rating increased to FF. Then got approved by SCB.
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zaskarace

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kenzai79 said:
Reading the posts in shadow, and was encouraged by many positive posts.

Applied for dcp w mbb and Hsbc. Both rejected. What’s shocking is that MBB did a credit review on my cc limit citing reduction of income in my documents. The review was a 10k downwards .

Now, mbb is requesting for the excess amount to be paid immediately :( ....with this, it has in fact exploded right in my face.....

I have maintained stable payment for months and rating was at 1712 before I applied for dcp.
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Faster call the bank to discuss with them
 
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GreenAvocado

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Hi bro/sis

After having my dcp approved, uob told me that it would take roughly 5 working days to make payments to all the institutions.

I understand that there are no waivers that i can reqeust for loans. But if im not mistaken, there are some waivers for credit cards. Any advice of what waivers i should be asking for and when would be the appropriate time to call the banks to do this?
 
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Probie

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Just received a call from SCB that my DCP has been approved. Big thanks to this forum for all the info provided. Cheers
 
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