Hi All,
I seek your kind advice regarding my credit card overdue and personal loan overdue.
I was not able to pay my last 3 installments of my personal loan and also the last 3 payment of the credit card(I use to atleast minimum amounts earlier) due to some personal issues and now I am willing to repay those amounts back. Now the bank has sent a letter(through lawyers) stating to repay in full($9900 for both credit card and personal loan together) else legal proceedings to be started. Is it possible to negotiate with the bank and i am worried that i would be arrested and jailed for this.
I am an EP holder in Singapore and currently working here. No intention of leaving or non repayment. I am willing to pay the amount in 4 parts (would be more convenient and plausible).
Any help is greatly appreciated.
Thank you!!!
SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
Credit card unpaid for 3 months
Re: Credit card unpaid for 3 months
first thing, don't let the bank bully youWorriedexpat wrote:Hi All,
I seek your kind advice regarding my credit card overdue and personal loan overdue.
I was not able to pay my last 3 installments of my personal loan and also the last 3 payment of the credit card(I use to atleast minimum amounts earlier) due to some personal issues and now I am willing to repay those amounts back. Now the bank has sent a letter(through lawyers) stating to repay in full($9900 for both credit card and personal loan together) else legal proceedings to be started. Is it possible to negotiate with the bank and i am worried that i would be arrested and jailed for this.
I am an EP holder in Singapore and currently working here. No intention of leaving or non repayment. I am willing to pay the amount in 4 parts (would be more convenient and plausible).
Any help is greatly appreciated.
Thank you!!!
Secondly, is this the only loan you have ?
If yes, go look for DRS
Also note, DRS means your credit is shot
So ??
Thirdly try to negotiate with the bank
Fourthly, look up DBS Debt consolidation
-
- Newbie
- Posts: 2
- Joined: Mon, 06 Nov 2017 7:00 am
Re: Credit card unpaid for 3 months
Hi !
Thanks a lot for the reply and suggestions. I really appreciate it. I spoke to the bank first thing today morning and made an arrangement with them to pay back the outstanding amount in 4 instalments 3000 + 2500*3(which includes the interest accrued in the next 3 months period). I am more than happy to pay it off than to face legal consequences. But unfortunately they have already terminated my credit card account. It's ok, Considering the burden it bought to me(my negligence plays a major part here too).
Cheers!
Have a good day all
Thanks a lot for the reply and suggestions. I really appreciate it. I spoke to the bank first thing today morning and made an arrangement with them to pay back the outstanding amount in 4 instalments 3000 + 2500*3(which includes the interest accrued in the next 3 months period). I am more than happy to pay it off than to face legal consequences. But unfortunately they have already terminated my credit card account. It's ok, Considering the burden it bought to me(my negligence plays a major part here too).
Cheers!
Have a good day all

-
- Similar Topics
- Replies
- Views
- Last post
-
-
Credit card sign ups and best air miles credit card
by BBCDoc » Sat, 25 Aug 2018 11:34 am » in Latest News & Current Affairs - 0 Replies
- 4935 Views
-
Last post by BBCDoc
Sat, 25 Aug 2018 11:34 am
-
-
-
Lost job in Singapore with Credit Card debt
by expatnumber83 » Tue, 21 Aug 2018 11:20 am » in Relocating, Moving to Singapore - 10 Replies
- 9231 Views
-
Last post by brian_singapore
Tue, 28 Aug 2018 4:11 pm
-
-
- 5 Replies
- 3090 Views
-
Last post by GSM8
Sun, 10 Feb 2019 4:13 pm
-
- 11 Replies
- 9308 Views
-
Last post by Shiba28
Tue, 16 Apr 2019 12:13 am
-
-
Whatcard.sg to maximize rewards from credit card spend
by GlenT » Wed, 19 Jun 2019 11:52 pm » in Credit Card & Banking in Singapore - 0 Replies
- 2841 Views
-
Last post by GlenT
Wed, 19 Jun 2019 11:52 pm
-
Who is online
Users browsing this forum: No registered users and 0 guests