Credit card unpaid for 3 months

[Worriedexpat]

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!!!

[ecureilx]

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!!!

first thing, don't let the bank bully 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

[Worriedexpat]

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