[Serious] If kenna retrenched, then update to the bank. Will the bank cancel the existing loan a not?

[theMKR]

will a not?

then must faster pay back everything?

 

[Xihe]

Banks no mercy. Will repossess your flat if you unable to service the monthly loan.

 

[ToonBlue]

No job no problem
no money to pay up monthly then yes

 

[foxer77]

u can serves your monthly loan.. bank dont care......

 

[highsulphur]

Tiagong go ktv will get retrenchment discount

 

[Ah-Pin-Kor]

you may have a lot of cash or other assets.
as long as loan remains serviced bank won't disturb you.


Read HWZ Forum Rules iOS version!

 

[tokong]

You still have to pay your loans what.
This is why at least make sure you have a general income like grab food deliverer after you are retrenched.

 

[harbinger255]

They will ask if chiu served NS first..... if yes then will ask you need to take more loan to tide over your unemployment not?

 

[icebleue]

why need to inform? You wanna get more loan?

 

[Lchlch]

will a not?

then must faster pay back everything?

bro, this one hard to say.
either call them to check?
or just keep quiet and if can pay, just pay monthly...

 

[Acetone]

If u default then bye bye to ur property lor

 

[ninefile]

some banks will immediately call up your loan and even ask you to pay penalty

this is at least for car loan

 

[theMKR]

They will ask if chiu served NS first..... if yes then will ask you need to take more loan to tide over your unemployment not?

really meh?

no income, no collateral can take loan?

 

[Devoan]

Short answer, no.

Long answer, so long as you continue paying the loan, which I assume is unbacked by any assets. If you're talking about property loans though there's a chance if the loan goes underwater, meaning if the asset is worth less than the value of the loan. Depending on the size and type of loan you're talking about they all are treated differently, and even possibly differently by banks vs other types of finance companies.

 

[theMKR]

some banks will immediately call up your loan and even ask you to pay penalty

this is at least for car loan

really meh?

tor if recall loan, no need pay penalty, just all outstanding

 

[tokong]

you may have a lot of cash or other assets.
as long as loan remains serviced bank won't disturb you.


Read HWZ Forum Rules iOS version!

No this is a no no. don't depend on your reserves. you have to keep on contributing to your cpf every month.

even if you have lotsa saving, 金山银山 will be wiped out one. You have a family to feed, not only the hdb loan or the utilities but also the transport. you never add your kids and wife and old parents ezlink into your simply go app and do top up from your end while your wife takes care of kids' school fees etc and other school expenses?

At least get a temp job before you get a real job.

 

[ninefile]

really meh?

tor if recall loan, no need pay penalty, just all outstanding

i kenna b4
i ask the officer who call me, i can pay, but what about others who cannot pay
she say, we tow!

knn

 

[titusilvering]

will a not?

then must faster pay back everything?

All your credit card etc will tio cancel

 

[ricohflex]

Bank waiting for this moment to take advantage of you.
Will Foreclose your property. Bank says "Ho Sei Liao".
Not only you lose your house. After that you still owe the bank a lot of money.

 

[harbinger255]

really meh?

no income, no collateral can take loan?

Then you kenna retrenched, really will update bank meh?