Wt_know Supersonic April 6, 2015 Share April 6, 2015 (edited) there is pay cash ... and there is pay cash ... lol if i go Hour Glass and buy gold rolie with 24 months 0% interest is "unsecured credit" right? Debt-ridden borrowers given more time to repay bank loans Repayment scheme set up to help borrowers reduce unsecured debt From Jun 1, 2015, borrowers who hold debts exceeding 24 times their monthly income will not be allowed to obtain more unsecured credit. From Jun 1, 2017, this will be reduced to 18 times their monthly income. From Jun 1, 2019, it will be further reduced to 12 times their monthly income, which is when the unsecured credit rules fully kick in. Edited April 6, 2015 by Wt_know ↡ Advertisement Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic April 6, 2015 Share April 6, 2015 Ur rolex is secured credit. Anything happen rolex is the collateral. So its ok, go buy 2 gold rolex, then installment for 24 months. Just that when u meet T2, don't say ur rolex on credit lol 3 Link to post Share on other sites More sharing options...
Wt_know Supersonic April 6, 2015 Author Share April 6, 2015 (edited) anything happen my rolex go to "2 sook liao" (pawn shop) ... simi collateral ... muahahaha ... Ur rolex is secured credit. Anything happen rolex is the collateral.So its ok, go buy 2 gold rolex, then installment for 24 months. Just that when u meet T2, don't say ur rolex on credit lol Edited April 6, 2015 by Wt_know 1 Link to post Share on other sites More sharing options...
Kusje Supersonic April 6, 2015 Share April 6, 2015 Ur rolex is secured credit. Anything happen rolex is the collateral. So its ok, go buy 2 gold rolex, then installment for 24 months. Just that when u meet T2, don't say ur rolex on credit lol It's only collateral if the creditor has possession of it (i.e. you can't give or sell it away). 1 Link to post Share on other sites More sharing options...
Kar_lover Supercharged April 6, 2015 Share April 6, 2015 Ur rolex is secured credit. Anything happen rolex is the collateral. So its ok, go buy 2 gold rolex, then installment for 24 months. Just that when u meet T2, don't say ur rolex on credit lol IPPs (instalment Payment Plans) are done through credit cards and hence is unsecured credit. The bank doesn't own the watch. HP (Hire purchase) used to buy car is not unsecured credit as the lender is still the official owner. 1 Link to post Share on other sites More sharing options...
Picnic06-Biante15 Supersonic April 6, 2015 Share April 6, 2015 (edited) there is pay cash ... and there is pay cash ... lol if i go Hour Glass and buy gold rolie with 24 months 0% interest is "unsecured credit" right? Debt-ridden borrowers given more time to repay bank loans Repayment scheme set up to help borrowers reduce unsecured debt Why buy rolex and get yourself involved with 24 months loan ..... Buy gold Casio or Seiko in Full Cash, also tell time what .... Nowadays, ppls also don't wear watches leow. Their handphone got clock display and more accurate through GPS somemore... Edited April 6, 2015 by Picnic06 7 Link to post Share on other sites More sharing options...
GLZT 6th Gear April 6, 2015 Share April 6, 2015 Like that I think company like courts going to be affected. Since they seemed to use instalment plans to push their sales. 1 Link to post Share on other sites More sharing options...
Jman888 Moderator April 6, 2015 Share April 6, 2015 Like that I think company like courts going to be affected. Since they seemed to use instalment plans to push their sales. so if one's salary is $3K, your limit is $36K, as long as the amount of less than that you can still extend beyond 12 months instalment. 1 Link to post Share on other sites More sharing options...
GLZT 6th Gear April 6, 2015 Share April 6, 2015 so if one's salary is $3K, your limit is $36K, as long as the amount of less than that you can still extend beyond 12 months instalment. May seem like alot to ppl with financial literacy, but there are lots of people out there that are spending way beyond their means. Link to post Share on other sites More sharing options...
RadX Moderator April 6, 2015 Share April 6, 2015 ya la this is oni for those loans that are unsecured, not car loans, housing etc. May seem like alot to ppl with financial literacy, but there are lots of people out there that are spending way beyond their means. totally agree. if one take marriage loan, can put Mother in law as collateral? So repo the mil? @jamesc sure want to know...kekeke 4 Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic April 6, 2015 Share April 6, 2015 It's only collateral if the creditor has possession of it (i.e. you can't give or sell it away). I see Ps never try credit for rolex yet hehe Link to post Share on other sites More sharing options...
Jamesc Hypersonic April 6, 2015 Share April 6, 2015 ya la this is oni for those loans that are unsecured, not car loans, housing etc. totally agree. if one take marriage loan, can put Mother in law as collateral? So repo the mil? @jamesc sure want to know...kekeke Knowing jamesc, he will pay the repo man to take away the MIL and leave a big tip not to return her. 10 Link to post Share on other sites More sharing options...
Porker Turbocharged April 6, 2015 Share April 6, 2015 You all e every time talk about money not sian ah? No wonder Singaporeans are so $$$ face. 3 Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic April 6, 2015 Share April 6, 2015 You all e every time talk about money not sian ah? No wonder Singaporeans are so $$$ face. No money cannot surf mcf ah, go hwz Link to post Share on other sites More sharing options...
Throttle2 Supersonic April 6, 2015 Share April 6, 2015 You all e every time talk about money not sian ah? No wonder Singaporeans are so $$$ face. Bloody hell, some more use my name to talk money. I sibei sian leh. Feel like quitting private sector and going into politics Link to post Share on other sites More sharing options...
Wt_know Supersonic April 6, 2015 Author Share April 6, 2015 which GRC ... i vote for you ... muahahaha MPS time must wear bling bling rolie hor ... Bloody hell, some more use my name to talk money.I sibei sian leh.Feel like quitting private sector and going into politics Link to post Share on other sites More sharing options...
Enye Hypersonic April 6, 2015 Share April 6, 2015 You all e every time talk about money not sian ah? No wonder Singaporeans are so $$$ face. Actually it is very sian but peasants like me need to be constantly reminded of prudence And also to learn from the rich people here (including the ASKs) how they have arrived against all odds Still bearable compared to reading about rich gay men talk about their "activities" 😂 Link to post Share on other sites More sharing options...
Vid Hypersonic April 6, 2015 Share April 6, 2015 Actually it is very sian but peasants like me need to be constantly reminded of prudence And also to learn from the rich people here (including the ASKs) how they have arrived against all odds Still bearable compared to reading about rich gay men talk about their "activities" 😂 Wah... personal attack [laugh] ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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