Suspect credit card balance

[hovered]

Hi, I'm hoping to find someone who can advise me on my situation.

In 2003, my dad was cheated by his brother by having his credit card maxed out by his brother. We paid off 70% of the balance and got his brother to pay off 30% of it (which he claims he did).

In 2008, my father had approached DBS regarding housing loan and the officer did a background check and rejected my father's application and stated the reason was because he had bad record in their database but however the case has been settled/closed.

3 days ago, we received a call from someone representing DBS and he informed by father that he has an outstanding amount of $52,000. When my father questioned him (DBS representative), he mentioned that the amount has been reduced to $28,000. Upon further questioning and asking to arrange a meet up to view evidence, he mentioned that he can help if my dad is able to write a cheque for $20,000. Then he muttered some words and told my dad that he'd contact him again after speaking to his higher officers.

My family is badly affected by this as we have came a long way from where we started. So we decided to download my dad's credit report from TWO commonly used websites for credit reports shown on DBS website. The reports did not indicate any such debt.

What is happening? Can anyone advise? Anyone experienced something similar?

[ecureilx]

My family is badly affected by this as we have came a long way from where we started. So we decided to download my dad's credit report from TWO commonly used websites for credit reports shown on DBS website. The reports did not indicate any such debt.

What is happening? Can anyone advise? Anyone experienced something similar?

did credit bureau show it as outstanding?

btw, welcome to the world of banking

in my opinion unless and until you get it in writing that the account was settled banks consider it as open, report it as 'asset' (all outstanding loans are assets) and reward themselves for excellent performance ...

until you close the account some paper pusher will see it and add up all interests and legal fees and a 1,000 $ outstanding will become 10,000 very fast

and when the client agrees to pay 5,000, the debt collection department will reward themselves again for excellent work

do you know banks love customers who don't pay on time or roll over?

since you didn't get the account closure in writing not much you can do ...

you can send a registered letter demanding explanation and copy to MAS and see how they reply, asking why they didn't clear your record and consider it as harassment .. state specifics in the letter.

[hovered]

credit bureau did not show any outstanding amount and his status is stated as Good. Will credit bureau leave out such outstanding amounts to banks? Credit bureau report even shows my dad's housing loan. But nothing of that amount indicated by the dbs person. Thanks for your reply.

[ecureilx]

credit bureau did not show any outstanding amount and his status is stated as Good. Will credit bureau leave out such outstanding amounts to banks? Credit bureau report even shows my dad's housing loan. But nothing of that amount indicated by the dbs person. Thanks for your reply.

credit bureau shows what info that was given by the bank, not otherwise

seems someone in DBS forgot to close the account. if balance settlement was made.

you should demand the furnish all past payment detail or threaten them for harassment!!

says me.

[zzm9980]

Surely you have some records of making these payments and getting such a large debt settled. Go to the bank and talk to someone in person. It is possible your uncle is entangled with some unsavory fellows trying to scam your dad.

[hovered]

Thank you guys appreciate your help.

[Strong Eagle]

I smell scam. Get the name and phone number of the person and verify with the bank.

[hovered]

I smell scam. Get the name and phone number of the person and verify with the bank.

I hope so too because from the way my parents had described their conversation with this DBS staff, it seemed very dodgy and he slashed the "outstanding amount" from $52k to $28k and then to a final settlement of $20k.

[ecureilx]

I smell scam. Get the name and phone number of the person and verify with the bank.

I hope so too because from the way my parents had described their conversation with this DBS staff, it seemed very dodgy and he slashed the "outstanding amount" from $52k to $28k and then to a final settlement of $20k.

my 2 cents having been in a similar situation, most likely, not scam

after all you are writing the cheque to the bank, not to Mr ABC ..

if the person asked to write a personal cheque then I'd say its a scam

it is pretty normal to reduce outstanding, as I said, if out of the 52k, the original loan was just 10 to 15k, balance amount being compounded interest at 24% PA, plus legal fees etc, and fees on outstanding fees!!

as I said the debt collection dept will reward themselves once you make any payment!!! that's the motivation to try a fast one ...

[hovered]

Just got to know that the amount my dad's brother had to pay was about 3k. So if this collection agency is for real then does the credit buerea report still have any validity? Thanks again for your inputs.

[sundaymorningstaple]

I smell scam. Get the name and phone number of the person and verify with the bank.

I hope so too because from the way my parents had described their conversation with this DBS staff, it seemed very dodgy and he slashed the "outstanding amount" from $52k to $28k and then to a final settlement of $20k.

my 2 cents having been in a similar situation, most likely, not scam

after all you are writing the cheque to the bank, not to Mr ABC ..

if the person asked to write a personal cheque then I'd say its a scam

it is pretty normal to reduce outstanding, as I said, if out of the 52k, the original loan was just 10 to 15k, balance amount being compounded interest at 24% PA, plus legal fees etc, and fees on outstanding fees!!

as I said the debt collection dept will reward themselves once you make any payment!!! that's the motivation to try a fast one ...

He didn't say to whom the cheque was to be written to. It apparently didn't get that far along. I suspect a scam as well.