Charmaine Ng - Seedly
Charmaine Ng

Ex-lover of Starbucks & cafes; having an affair still with BBT though...(soon-to-be-ex).

Charmaine Ng

The Value Maximizer at @ Every Ma La Xiang Guo Stall

102Upvotes

About

Ex-lover of Starbucks & cafes; having an affair still with BBT though...(soon-to-be-ex).

Credentials

The Value Maximizer at @ Every Ma La Xiang Guo Stall

Charmaine Ng

The Value Maximizer at @ Every Ma La Xiang Guo Stall

102Upvotes
  • Answers (110)
  • Questions (5)
  • Reviews (11)

Loans

Licensed money lender in my opinion is just loanshark with a better name. Usually for foreigners you can still take out a loan/credit card; just that they would have higher income requirements for you. I do not think a guarantor is necessary; but please provide the necessary documentations.

Loans

Family

General

This sounds very dodgy. First off did he tell you what is the bond about? Did he show you the documentations? It sounds like he wanted to "get your help" one way or another and I'd recommend you to tell him that you're not comfortable or not in the financial position in anyway to help. If his love for you is real and mature; he'd understand it. If not, it's not worth betting your future for it. (To have $16k bond means the liability is either that amount or higher).. and interests accumulates fast (if applicable). Do not loan him the money under any circumstances. If it is for a legit reason he shouldn't have any issues getting loans for studies whatsoever; unless he's already having a bad credit.

Investments

Loans

Savings

I would use the money to pay down the loan. If it doesn’t fully pay down the loan - you’re still paying interests.. best to eradicate the need to pay interest in the first place.

Loans

Hi! If you are considering Citibank's DCP (debt consolidation plan) right now; I assumed that you already have debts of >12 months salary? I wouldn't recommend you to go for DCP first; for few reasons. 1. DCP works by consolidating all your existing bank debts into DCP (Citibank pays it off for you and now you owe them only). The interest rate is about 10%/annum, vs 24-30% credit card interests rate. This is not attractive; because if you go for CCS DMP (debt management plan), you could get single digits interest rates. The % rate now may not seems immediately applicable to you, but interest rates compile quickly. For DMP, if your plan is approved it'd mean that CCS has ran through with you your income vs expenditures; given you the necessary advices and negotiated with the banks for you to make payments comfortably. 2. The plan does not eradicate roots of the problem. In the first place what are the causes of your debts? Lifestyle choices or circumstantial? Enrolling yourself into DCP helps short term but does not help you to understand what went wrong and while DCP gives you a month of credits to use "for emergency uses"; honestly you're just going to rack up debts again if you don't know what went wrong and how you can make wiser decisions. 3. My personal experience with Citibank is just bad. I had a study loan long time ago and even though it was paid; I received letter of non-payment and it's difficult to get hold of their loan officers to make things right. This gives me impression that they are great when signing up; and MIA when you need them most. Nono. Lastly, I suggest you sign up for a infotalk at CCS if not already. The talk helps you to understand the differences of DMP, DCP and few other alternatives which you may explore. Also, you only furbished more details if you think you need CCS help after the talk. They will run through the process with you as well. https://www.ccs.org.sg/e-submission/index.php/member/site/info_register I came upon a write-up on the process which I think is useful for people new to CCS DMP. https://unhypemydebts.wordpress.com/2015/07/14/steps-taken-towards-dmp-debt-management-program/ All the best!

Loans

Hey there sorry but please stop your friend to apply for his self voluntary bankruptcy proceeding. If a creditor applied for his bankruptcy, they can recover the application deposit of $1850. I have no idea where the remaining $2k plus goes to;did your friend let you know? https://www.mlaw.gov.sg/content/io/en/bankruptcy-and-debt-repayment-scheme/information-for-bankrupts1.html

Lifestyle

Seedly

Unfortunately I don't think they can at this moment! Another thing is Youtrip does have some issues reflecting the actual transactions made on their app even; so I'm not so sure about the accuracy of these data when ported over to seedly app even if the seedly team manage to make it happen.

Lifestyle

Career

To have enough for everything; if I do not want to had enough of everything I loathe. Still WIP though! !
Answer image preview

Credit Card

No. Also please evaluate how deep in debt you are right now. If you are having credits and unable to pay off; stop looking for ways to pay it off first. Start looking at ways to cut your spendings first. Suggestion: - If you're 1-3months of your salary in debt right now; immediate cut out unnecessary everyday luxuries + review monthly expenses (telcos etc.) to pay off the debt now. Don't bother looking at taking out loan for lower % interests; because they would have a one-time processing fee which would equate to your interest rates anyway (or a little more.. which the costs is insignificant considering you might snowball your debts anyway.) - If you're 4-6 months of your salary in debt right now; do the above; switch to a loan ONLY after evaluation. By evaluation I don't mean speaking to bankers who benefits from your business. I mean comparing different loans and speaking to bankers only to understand the product; not sign-on immediately. Ask Seedly community if you must; but by this time you should also be looking at discussion with family members to see if they could help out & 2nd income source to speed up your repayment. - If you're 7months of your salary and in debt. Contact CCS and register for an infotalk. You urgently need it and do not think about getting another loan to pay the first one. You will never cover the hole without getting proper knowledge of where you went wrong. Also in the talk you will hear more about the different types of options for you. All the best!

Stocks Discussion

Stocks

General

I agree with Lok. What happen is with China's influences growing day by day and with it's ties with U.S now; countries and businesses are both wanting to have good relationship with and also afraid of China. They are dependent on PRC for consumerism and low cost materials but the Chinese government hasn't been the easiest to communicate with because they have the negotiating powers and their own beliefs. Taiwan has been struggling with their ties with China; so has HK. Even though HK has returned to China many years back till now today the citizens of HK refused to acknowledge that because of the political freedom that they have enjoyed; and which they believe would likely be removed if they become more "China oriented". Having the new extradition laws would cover the loopholes for criminals; but to the HK citizens it would make it easier for Chinese government to interfere in HK jurisdiction. Of course there are other concerns which are not suitable for discussions here; given the bad records of some Chinese officials in the past who has since been dealt with by the law. It is likely the protest situation will continue to last for probably a few months and in the short term; I would expect businesses with obvious ties to China (e.g. HW) will take the brunt but in the long term I do not think it will be as serious as the case of yellow vest in Paris.. as from the looks of it it seems like the HK government is going to push ahead with it whatsoever and wants it done asap. Investors may also held off trading for the moment but that should be about it IMHO.
Load more questions
Level 6. Master
102UpvotesGoal 300
198 UPVOTES TO LEVEL UP
Browse Rewards