Debt consolidation Plan

[Hopelesssoul]

Am deciding to head back to the bank.. however from some posts here it mention a DCP will affect my employer from hiring me. Is that true?

 

[Bennytannn]

Hi everybody,

I need some advise if i can try to take up dcp.

Monthly salary :3300
NOA : 54k from day job and 12k from grab
Debt:54k
Credit Rating:BB

Tried taking up Hsbc personal loan but was rejected. Balance transfer from UOB also rejected.

Dont know what to do. Was wondering if i can try submit 3months payslip and apply dcp?

Need some advise here.

Many thanks

 

[Shalala-86]

This is my second attempt to try scb dcp. First time failed, but my cso good enough to check with approval team the reasons of rejected and shared with me so I can fix it and retry again in future. The cso invited me to try again after two months after I fixed one of the reason and their internal change of policy to increase up to 20x. I tried, and approved after they internal
appealed after rejected on 4th Feb without I asked.

Mind sharing the reason for rejection and cso that helped you out? My application with scb was rejected. Text and called the cso, was being ignored. Sigh!

 

[Shalala-86]

Hi everybody,

I need some advise if i can try to take up dcp.

Monthly salary :3300
NOA : 54k from day job and 12k from grab
Debt:54k
Credit Rating:BB

Tried taking up Hsbc personal loan but was rejected. Balance transfer from UOB also rejected.

Dont know what to do. Was wondering if i can try submit 3months payslip and apply dcp?

Need some advise here.

Many thanks

No harm trying. Good rating and 12bti

 

[chris_83]

Mind sharing the reason for rejection and cso that helped you out? My application with scb was rejected. Text and called the cso, was being ignored. Sigh!

2 expired scb balance transfer that did not cleared even though every month paying minimum and bti near 18x. my cso keep changing. someone did recommend one scb cso here (but not my sco). between who is your cso?

 

[servillafran]

DCP

Hi all,

Now my payment is due on 20th every month. Is it possible for them to change my due date to 29th every month?

 

[Happydappy]

Nowadays some company will have these questions as part of pre-employment check or annual declaration. Is DCP considered "scheme of arrangement"?

a) is or has been unable to fulfil any of its or his financial obligations, whether in Singapore or elsewhere;
b) has entered into a compromise or scheme of arrangement with its or his creditors or made an assignment for the benefit of its or his creditors, bring a compromise or scheme of arrangement or assignment that is still in operation, whether in Singapore or elsewhere;


Did anyone working in a bank declare a yes? Any consequences? Did compliance or hr look you up?

Thanks

 

[Weiming92]

I am on a DCP.. and managed to apply and approved my renovation loan yesterday for 30k..

Even if you’re on DCP, you are still able to apply and get approved for renovation loans. Pm me if you wanna find out more

“Your Renovation Loan has been approved. You will receive your loan package within 5 working days. Questions? Call 1800 363 3333”

Im unable to pm cause my post not enough. Can you pm me..? Thanks.

 

[loststars]

I have qns on reno loan. Can pm me? Thanks in advance.

Grats to everyone who’s been approved! For those trying, never give up! Just try again after a few months when your rating gets better! Always remember to pay minimum balance and don’t skip a payment.

 

[iamintrouble]

for those not in the banking or finance industry, do consider DRS, i just finalized my drs, i was on credit card debt till 70k from various banks, then i sign up dcp, dcp got approved from citibank, started paying $1498 monthly to citibank, tied for 5 years.
But i realized that $1498 is too much for me to pay and also need to pay $150 for the dcp credit card(i used up all the credit limit by dcp cc) and $270 for reno loan, i am the sole breadwinner, so i tried drs , approach an agency to help me(gotta pay of cos) , i only went to supreme court twice to just to do submission with the agency guy and get some forms done, second time was to get a cause book search. No meeting with lawyers or judges or whatnot. then wait. then after few months is go to ura building twice to finalized the drs payment. thats it . now i am paying $700 each month for 57 months.
Before this i was paying $1498 + $150 + $270 = $1918 .
And i stop paying to the banks the moment i did my submission. So got a few months that you can spend your money on something else. And No , there are no debt collectors nor anybody going to your house to ask for your loan when you stop paying. the bank just called you and you just inform them that you are on drs , give them yr case number and , the bank will just call once just to offer discount on your loan.
And no ,there's no need to inform anybody to go overseas, free to go overseas anytime , anywhere. i hope you guys consider drs also instead of dcp if you are really deep in debt or coping high monthly installment for dcp. And your hdb house or cpf all is not affected. If u owe a bike or car , you can still drive or ride.
I owe a car and a bike , the oa never ask me to sell it away or what not. Just ask me to reduce my monthly expenses.
Where got time to think about what credit ratings and whatnots.

 

[skai_11]

Hi,

May i know which bank offers the best DCP now?

What are the cons of DCP should i be aware?

How will i be affected if i am under DCP? Will these still be affected even i have cleared my outstanding?

Thanks all!

 

[Garfield1968]

Need Advice on DCP

Hi All,

I need some advice on DCP.
I have unsecured debts of nearly $300k
Monthly income about $14k.
Any advice from Brothers or Sisters out there?
Thank you in advance as having a hard time clearing debts with minimum payments.

 

[Mustafa006]

Hi anyone got apply Reno loan and approved when on DCP? Kindly pm me. Thanks.

 

[Aion99]

for those not in the banking or finance industry, do consider DRS, i.

Hi I have PM you for more info on DRS

 

[seeklightsoon]

Hi All,

I need some advice on DCP.
I have unsecured debts of nearly $300k
Monthly income about $14k.
Any advice from Brothers or Sisters out there?
Thank you in advance as having a hard time clearing debts with minimum payments.

If you are earning an income of S$14K on monthly basis, your annual income will be more than S$120K which I think you will not qualify for the DCP loan (as DCP is for those with annual income less than $120K).

Your best bet now is to try to apply for DMP under CCS. DMP has no income restriction so long as you have excess funds to make payments on monthly basis after deducting your expenses.

 

[aimnfire]

I've just received writ of seizure dated 22 feb. Whats next. How long before they start pasting stickers?

 

[iamnotlame]

If you are earning an income of S$14K on monthly basis, your annual income will be more than S$120K which I think you will not qualify for the DCP loan (as DCP is for those with annual income less than $120K).

Your best bet now is to try to apply for DMP under CCS. DMP has no income restriction so long as you have excess funds to make payments on monthly basis after deducting your expenses.

I agree. The chances of getting approved for DCP is nil based on my experience. I went via the CCS route and was approved for DMP.

 

[Garfield1968]

I agree. The chances of getting approved for DCP is nil based on my experience. I went via the CCS route and was approved for DMP.

Hi Bro

Good morning to you.
I need to know more from you on DMP.
Can contact me?
Thank you
Regards

 

[Jojodespo]

Hey do you have enough posts to PM yet? Else I can PM u

Im unable to pm cause my post not enough. Can you pm me..? Thanks.

 

[Jojodespo]

Yes bro? How can I help!

I have qns on reno loan. Can pm me? Thanks in advance.