Please read n help me if u can, urgent advise needed...

[dicky]

http://www.ccs.org.sg/alone.php


2 Samples from many

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Mr Ben (in his 40s) This is my story:

I am working as a Manager drawing a salary of S$6,000 per month. To many people I know, this is an upper salary bracket. However, to me this is the minimum sum required to keep my family survive. This amount do not include allowance for food. My wife has to work to help me make ends meet. And I only have one son who is in secondary school now. This is because three quarter of my salary is used to pay my credit card debts.

Sounds tough ... it was tougher two years ago when almost all the banks who had issued me with credit cards, magnified and spelled out the fine wordings stated in the terms and conditions that I had earlier signed; except I must add :xedfingers: CITIBANK :xedfingers: who was quick to equitably help me restructure my credit card debt to term loan. The same banks who had for many, many years loan me the money and treat me like VIP as a customer at the front counter had now transferred my acounts to their Collection Dept who termed me legally as debtor. The legal language switched from Banking Act to Bankruptcy Act. Many are armed with willing lawyers who had memorised the Bankruptcy Act by heart to prey on obviously unrepresented debtor. Some of the banks employed licenced ’Tai Long’ who are fond of offending and breaching the debtor’s privacy. It was a very tough period for me; psychologically.

I requested the help of The Association Bank of Singapore who directed me to Credit Counselling Singapore (CCS). The latter had helped me mitigate the situation by summarising my expenses and expenditure thereby showed me my financial strong and weak point. My financial situation was dire; I can easily submit to bankruptcy but I opt to be responsible for my debts. Now I am still struggling to pay back my debt but at least I can see the light. Four years more and I hope to be free of the credit card debts and bank loans of more than S$100k.

I now prefer Debit Card.

CCS is well recognised by the government, the banks and the courts. My advice is if you are having \"credit card problems\" talk to them first.

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Ms Helen (in her 30s)

As a result of my carelessness, my little debt snowball to a huge debt of S$100K. I was stressed when my total monthly repayment has exceeded my monthly salary. I was really desperate for help and unable to cope. On my own accord, I tried to approach banks, credit cooperative etc for help, but was unsuccessful. For almost a year, I struggled to cope with the hounds of my creditors. The feeling was terrible. I felt insecure, helpless, hopeless, despised, rejected and a failure.

I was overjoyed when I heard of CCS from the media. Immediately, I called to enquire. I attended their awareness talk, counseling and finally had my DMP worked out.

At CCS, I was treated with respect. CCS has helped me to restructure my debts and my lifestyle. I begin to appreciate the beauty of credit free living. Today, I am able to meet my monthly debts repayment. My stress was gone and I have gained back my confidence. I am now a happier person and I look forward to be debt free soon.

[urgenthelp]

@dicky



Thanks for the reply again..

hmmm... thanks for the compliment, but sorry to disappoint you, i am not highly educated wor, i graduated in ITE only, and am also not holding high income at all... last time able to apply for CC use income tax apply de, got add up OT and bonus value, so pass their income requirement and they pass all my CC applications. and last time record still clean, coz i dun use, until when i was in need that time den i started rolling it.

Den as for maid, so long DH and my salary combined income more than 3k den can apply le... not so difficult to employ maid if both working...

ya, at least still can have some advise on pty lo.. but told them my problem.. they dunno how to advise either... :sad:

yes, a bankrupt status is no joke for me... i will nv let myself into that kind of shit.. it will really kill me even worst... u are right, i havent owe up to 100k that much.. only couple of ten thousands, but its already killing me..

DH and I got clear a few bills le.. we not nv clear.. but u see, it take 5years for us to clear that couple of thousands liao.. coz we are paying the min, and bit by bit.. now if its not child need to go CC, i will not be so troubled... :sad:

[dicky]

ITE? Same as me... Though I probably your senior by many years...


Am leaving for hometown in Malaysia tonight. Do take care.... :snooze:

[urgenthelp]

@dicky


thanks for the great post… after reading ur post, I will definitely find CCS again, and hope that this time round, they will help me even more…

I wanted to see light too, like the two examples that are shown above…

I dun wanna be a debtor at all since I was young, but I didn’t know that raising a child is so much diff den our years… we really cant use last time thinking on today’s living. things have change so much…

in our grandparents or parents years the company or working environment they are in will not be like now. expected or unexpected to work overtime, last min meeting, last min job to complete and other etcs… this result that we will need someone else to help us in taking care of our child even beyond our normal working hours, if not CC will fine u, nanny will nag u, or parents will grumble.

and last time we are all taken care by relatives or grand parents, parents either do not need to pay them, or just little pay, or just feed them together in a family…

but now the society has change… all is on ur own already… u either put CC or employ maid… and education is so much diff from last time… MOE has change their way of teaching and we parents got to get involve and also adapt to it… not like our parents last time send us to sch, come back dun need to teach much, coz they may not know also… and we just learn on our own. and we only started sch at nursery or K1… nowadays, 18mths already inside CC…

but now our children, we have to do alot with them, coz teachers will not teach much also. they wan parents to be also involve and engaged with the child too, so our stress handling is nv gonna be like our grandparents or parents time…

the world is turning, and the society have change… its nv gonna be easy like before…

[urgenthelp]

@dicky


wow… maybe wor…

oh okok… thanks for the advise and talk u have been giving me this few days… am really grateful in that…

do enjoy ur trip and please take good care…

shall talk to u when u are back again…

take care…

[Edureach]

urgenthelp:

@dicky


thanks for the great post... after reading ur post, I will definitely find CCS again, and hope that this time round, they will help me even more...

I wanted to see light too, like the two examples that are shown above..

I dun wanna be a debtor at all since I was young, but I didn't know that raising a child is so much diff den our years... we really cant use last time thinking on today's living. things have change so much..

in our grandparents or parents years the company or working environment they are in will not be like now. expected or unexpected to work overtime, last min meeting, last min job to complete and other etcs.. this result that we will need someone else to help us in taking care of our child even beyond our normal working hours, if not CC will fine u, nanny will nag u, or parents will grumble.

and last time we are all taken care by relatives or grand parents, parents either do not need to pay them, or just little pay, or just feed them together in a family...

but now the society has change... all is on ur own already... u either put CC or employ maid.. and education is so much diff from last time.. MOE has change their way of teaching and we parents got to get involve and also adapt to it.. not like our parents last time send us to sch, come back dun need to teach much, coz they may not know also.. and we just learn on our own. and we only started sch at nursery or K1... nowadays, 18mths already inside CC...

but now our children, we have to do alot with them, coz teachers will not teach much also. they wan parents to be also involve and engaged with the child too, so our stress handling is nv gonna be like our grandparents or parents time...

the world is turning, and the society have change... its nv gonna be easy like before...

I really hope that you maintain your positive attitude and believe your situation will change for the better. Cheers.

[urgenthelp]

@jojo


thanks for the reply… am saving hard also…

yes, agree that this is a good lesson for me… but guess, if i have nv gone thru this, i will not be having a cute child with me… this is at least something that i can be proud of, and what i have in return of my debts…

my debts are being roll out becoz i needed to feed my family, i did not waste on gambling or branded goods. maybe u can refer to my post more den prob u will understand…

ur dad is a noble dad, coz of his daddy loves for all of u, he is willing to suffer…

also glad that u and DH have very good financial planning and he is also saving hard for the childs future.

we too, wanna get out of debt soon and have some savings for our childs future.

[urgenthelp]

kaitlynangelica:

jojo:

Hi urgenthelp


I believe you can work sth out, relook into your outflow and inflow of cash.

I believe your hsehold income is more that 3k per mth, seem you are able to have a maid. Unless your DH is not working.

Can u imagine those who has single income family, they still managed to get it thru.

My DH's earning is abv $5k but for family sake he will keep his lunch less than $3.00 per meal and drink plain water in hisoffice. But of course, there are some days more than $3.

He really saves every cents for the family.

At least from this lesson, you will learn how impt :moneyflies: can be in our life.

You only have a son, can you imagine, my father who was a widor and had 11 kids to take care and he occupation was just a driver.

Jojo,
I think expectations were not so high in the last generation. So they simply just had to worry about putting food on the table. Nowadays we are concerned with giving our kids a good education and if possible, to leave something behind for them. And everything else has risen in price so its difficult to compare.

@kaitlynangelica

thanks for the reply, ur ans touch my heart.. yes, nowadays really cant compare with before le... the world have moved so much...

going home soon.. and i shall reply again to all in a later nite..

thanks..

[urgenthelp]

@nebbemind


Thanks for ur compliment. Our combined is not that much as what u say.
I dun really write well. Dun have very high qualification either. It’s working environment that requires me to brush up my eng well.

Doesn’t mean write well means earn alot Ba… Den I sld not be that worry coz since I write so well den can get better pay to clear my debts.

Anyway thanks for the reply.

[urgenthelp]

@Edureach


thanks for the reply… I will continue to hang in there as long as i can… for the sake of my family and my son…

thanks…