Hi, any regulars can help to answer my question? What does 'Financial Embarrassment' means?
I am currently servicing a DBS study loan assist for my p-t degree programme at Kaplan. The amount is 10k and it is more than 3 times my salary. i have been regularly paying the installment on time. Will it affect my appointment as officer?
Please help.
Study loan should be considered as a secure loan methinks. If it is so, I don't think you have anything to worry about. Or maybe, just for peace of mind, you could call them up to enquire.
Originally posted by kakashi84:Hi, any regulars can help to answer my question? What does 'Financial Embarrassment' means?
I am currently servicing a DBS study loan assist for my p-t degree programme at Kaplan. The amount is 10k and it is more than 3 times my salary. i have been regularly paying the installment on time. Will it affect my appointment as officer?
Please help.
Financial embarassment is not defined that way. If it was, many people buying HDB would be financially embarrassed.
Set a repayment scheme with the bank, don't be late in repayment, and don't mess around with unlawful money lenders (UML). Than you will be fine. In doubt ask the superiors...
Originally posted by skythewood:Financial embarassment is not defined that way. If it was, many people buying HDB would be financially embarrassed.
Set a repayment scheme with the bank, don't be late in repayment, and don't mess around with unlawful money lenders (UML). Than you will be fine. In doubt ask the superiors...
just to add on... most loans that people undertake, e.g. study loans, housing loans, car loans, are secure loans and do not contribute to your being financially embarassed. the main problem is unsecured loans. examples of these include credit card bills, buying of stuff [e.g. furniture, appliances] on instalments, renovation loans, ah longs aka Unlicensed Money Lenders [UML]...
in essence, you're doing alright. banks will ensure that you keep up your instalments, so you have nothing to worry about. And yes, do enquire if need be, just to be sure.
Thanks for replying guys. I will need to go to credit bureau singapore to get a credit report. hope my loan is not considered as financial embarressment
Originally posted by kakashi84:Thanks for replying guys. I will need to go to credit bureau singapore to get a credit report. hope my loan is not considered as financial embarressment
no worries mate. methinks you should be fine lah. study loans are not usually considered unsecured loans. all the best mate. =)