95% of Singaporeans are in debt

• troublemaker2005

  14 May 10, 19:30

  Originally posted by angel7030:

  yeah, life is too short to worry about debts, enjoy first, see those old uncles drove luxury thru loan...they dun care, cos once they die, no more loan liao

  
  loan got age limit one, or either got property in the loaner's name. you think people running insurance and banks and loans so idiot? if not no need cart anyone can do.

   

  see ah long? their moethods all old out dated. anyhow accetp people IC can issue loan,. that's why need to use violence get thugs to do the collecting job.

• angel7030

  14 May 10, 19:32

  Originally posted by troublemaker2005:

  
  loan got age limit one, or either got property in the loaner's name. you think people running insurance and banks and loans so idiot? if not no need cart anyone can do.

   

  see ah long? their moethods all old out dated. anyhow accetp people IC can issue loan,. that's why need to use violence get thugs to do the collecting job.

  
  i heard that for housing loan, in singapore, once you die, the house is consider yours, no need to pay loan anymore, ...that is why property is booming and many old ah peks and aunties are buying and selling

• troublemaker2005

  14 May 10, 19:42

  Originally posted by angel7030:

  
  i heard that for housing loan, in singapore, once you die, the house is consider yours, no need to pay loan anymore, ...that is why property is booming and many old ah peks and aunties are buying and selling

  
  Gahmen don;t provide loan to people after 55 yras of age. they have to buy the hosuing insurance, one time payment only. not much.

• angel7030

  14 May 10, 19:43

  Originally posted by troublemaker2005:

  
  Gahmen don;t provide loan to people after 55 yras of age. they have to buy the hosuing insurance, one time payment only. not much.

  
  But we loan them our CPF mah...govt dun provide, can seek private banks ya..show them your HDB and jaguar

• troublemaker2005

  14 May 10, 19:51

  Originally posted by angel7030:

  
  But we loan them our CPF mah...govt dun provide, can seek private banks ya..show them your HDB and jaguar

  
  aiyah no money don;t wear or attempt to wear big hats lah.

   

  loans they review. some safe and better bank account also they provide to older people only, people of over say 55 yrs. that one their interest the highest.

• Just_do_it_lah

  14 May 10, 19:57

  Originally posted by angel7030:

  
  i heard that for housing loan, in singapore, once you die, the house is consider yours, no need to pay loan anymore, ...that is why property is booming and many old ah peks and aunties are buying and selling

  
  there is an insurance to cover the rest of the mortgage payments.. if the Payee dies or gets permanent disable, the mortgage insurance will cover the rest of the payments...

• Just_do_it_lah

  14 May 10, 19:59

  HDB or banks will check on the age of the applicants.. the younger the applicants.. the longer span of re-payment.. if a ah pek goes apply for loan.. the officer will provide give him $3 to get a lunch box... lol

• Just_do_it_lah

  14 May 10, 20:02

  HDB charges a Flat interest rate... but higher than most commerical banks.. Banks can adjust their rates if the prevailing rates are inching higher... (when economy improves)...  HDB rates are quite constant though...

• dangerboi

  14 May 10, 20:17

  Always live within your means...

• Sgdevilzz

  14 May 10, 23:27

  i owe my friend 20cents :(

• Chester_Lim

  15 May 10, 00:47

  Its ok that you own debts.

  Borrow as much money from the banks and use it to enjoy life. When you are unable to pay back, commit suicide and give the insurance payout to your family members

• I-like-flings(m)

  15 May 10, 01:18

  no debt for mi yet.... still thinking to buy house or not leh....

• Just_do_it_lah

  15 May 10, 01:24

  Originally posted by I-like-flings(m):

  no debt for mi yet.... still thinking to buy house or not leh....

  
  an apt to keep your mistress huh ?? oops.. :-X   hehe.

• Just_do_it_lah

  15 May 10, 01:26

  Or a common place (rather to go quickie hotel) for a bang bang s3xssion... :-P

• skythewood

  15 May 10, 09:44

  so what's the percentage of people owing debts in this thread alone? Minus the people with the money to pay back but choose not too. (i.e. owe 10k housing loan, have 10k, but chooses to pay by cpf)

• angel7030

  15 May 10, 10:07

  Originally posted by Just_do_it_lah:

  HDB or banks will check on the age of the applicants.. the younger the applicants.. the longer span of re-payment.. if a ah pek goes apply for loan.. the officer will provide give him $3 to get a lunch box... lol

  
  $3 where got enuf, last time i went to HDB in toa payoh with one of my friend who is applying a executive HDB flat with her newly wedded choptable bald headed hubby, the lunch we ate at the lobby cost $8 per person...somemore only sandwiches and coffee only

• angel7030

  15 May 10, 10:08

  Originally posted by skythewood:

  so what's the percentage of people owing debts in this thread alone? Minus the people with the money to pay back but choose not too. (i.e. owe 10k housing loan, have 10k, but chooses to pay by cpf)

  
  100%, the moment you are born, you are in debts...in debts to yr parent, the nurses, the doctor, and so on.

• DriftingGuy

  15 May 10, 10:23

  Of course most Singaporeans will be in debt... Mainly due to house or car.. How many of us can afford to fully pay off either or both of these things before we are old and grey

• angel7030

  15 May 10, 10:40

  Originally posted by DriftingGuy:

  Of course most Singaporeans will be in debt... Mainly due to house or car.. How many of us can afford to fully pay off either or both of these things before we are old and grey

  
  ya, including the casket, some also need to loan it

• Rock^Star

  17 May 10, 10:41

  Cars in SG are seriously overpriced. A freaking CRV costs $120,000 now?

• syncopation_music

  17 May 10, 10:49

  Originally posted by troublemaker2005:

  
  loan got age limit one, or either got property in the loaner's name. you think people running insurance and banks and loans so idiot? if not no need cart anyone can do.

   

  see ah long? their moethods all old out dated. anyhow accetp people IC can issue loan,. that's why need to use violence get thugs to do the collecting job.

  
  As a rough guide

   

  you should have savings of 6 month your monthly salary .

  This is taught in financial planning

  so your liquidity ratio is healthy

   

   

• DudeNice

  17 May 10, 11:10

  i guess i am one of the 5% ....:-)

• Rock^Star

  17 May 10, 11:25

  Don't worry, debt will come find you soon :)

• troublemaker2005

  17 May 10, 15:20

  Originally posted by Rock^Star:

  Cars in SG are seriously overpriced. A freaking CRV costs $120,000 now?

  
  They want to control the car numbers in our small island. immagine if car so cheap sure got problem. that's why lots of people in this and related business making money. they created a 5c dream for people to fall in it. but seriously if yo just need a car second hand ones no need so fashionable can last you a few years at a fraction of your stated amount.

• eagle

  17 May 10, 15:40

  Originally posted by Rock^Star:

  Cars in SG are seriously overpriced. A freaking CRV costs $120,000 now?

  Why do u need a CRV?