Well, I applied for a Standard Chartered Personal Loan with my existing car loan from EON Bank (secured with my parents as guarantor) and I got rejected because of my CTOS status (trying to clarify the reason officially). I have been paying my car loan steadily every month as I have my statement as proof but I still got rejected because of CTOS. The only reason I can think of is because I defaulted my motorcycle bought when I was age 19 in university. That time I paid only about half of it before I defaulted. I assume the amount now should not be a lot too as the bike then was about RM2000 only. If I can get this personal loan of RM10000 approved I'd definitely clear off my CTOS status.

But I need help as is there any other way I can secure this loan without looking at my CTOS? I have some friends telling me since I was a constant and good payer with EON Bank there are certain ways I can get it approved.

Anyone can help?

Hi.. do a CTOS self check and see the actual CTOS report.. it could be due to other factors.

http://www.ctos.com.my/

Clear off your old loan ( negotiate for discount for full and final settlement) and get a full settlement letter. Use this letter to tell CTOS and ur bank ur case is cleared.

Maybe you should try applying thru EON Bank? Those international banks are known to be really strict, especially Stan Chart. Any other local banks maybe CIMB etc may be easier. You can also try OCBC, they are very people oriented although they are Singapore-based.

I was told even if I do thatand cleared my CTOS I need 6 months before I can apply for a loan. I was hoping if there's away I can take a loan to settle off the CTOS. Cos my savings not much. If I clear off then i might delay payment for my car loan. Then I'll end up in the same dillema.

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Added on April 15, 2008, 2:07 ami think EON Bank does not offer personal loans at the moment.

This post has been edited by jameslee_84: Apr 15 2008, 02:07 AM

CTOS not only shows whether you have defaulted on your loans but also shows whether there is any legal action on you.

CTOS is just one of your problems.

They will look into your monthly income, minus off all other commitments you have, like your car loan, credit card outstandings etc etc.
If your monthly income is too low, they will surely reject.
Besides, you have your parents as guarantor for your car loan? Seems like your income is very low.

that was 2 years back and my income at that time was low I have to admit. But I do have a clean payment record.

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Added on April 15, 2008, 2:37 pmI really need to get some feedbacks on the problem I've mentioned. Anyone with experience can help? I hope someone can let me know if my car loan that I have paid really nicely every month for 2 years would present me a strong case to obtain a loan.

This post has been edited by jameslee_84: Apr 15 2008, 02:37 PM

U defaulted ur loan, u get blacklisted.

Simple as that.

You should go to CTOS and find out why your name is in there. If you default payment and sum is below 10K, then you need to wait 6 months after you clear the default payment before bank loan to you again. More than 10K is 2 years.

I'm still waiting for CTOS report back. Just submitted my self-check application this morning. But 6 months, if I can't wait that long, are there any other ways I can secure a loan?

Why apply for Personal Loan???

It is one of the deadly sins... using your future money for today's gratification.

its for personal reasons thats why its a personal loan.....
I think I know more than I have to know about getting a personal loan and using future money for present gratification.
But thats the purpose of all loans, am I right? So, no offense but I really don't need any lesson or lectures on monmey management now.
I require more of an expert who knows he can help me get through with my loan.

Do you have any credit cards? Are you in good standing with the issuing banks? If so, pm me. I'll show you a way, slightly more expensive than personal loans, but no hassle and not Ah Long

Maybe can try ask help for so-called loan runner

well, what could be good standing? So far I have no problem with Standard Chartered only when they rejected my personal loan of course. I have good record with EON Bank also, would that be good standing since I pay on time every month?

wats the way then gregy?

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Added on April 17, 2008, 9:37 pmif I know the so-called runner I would but eventually I don't.

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Added on April 18, 2008, 10:45 amBesides CTOS, I would like to check my status on CCRIS, been to their webpage but can't find anything. Anyone knows where I can check my status on CCRIS?

This post has been edited by jameslee_84: Apr 18 2008, 10:45 AM

Only banks have access to CCRIS IIRC since CCRIS is Bank Negara's database.

You can get the report.. download the form from http://creditbureau.bnm.gov.my/index.php?ch=5&pg=7&ac=10

Fill it up, signed and forward the necessary documents to ascertain your identity... should be able to get it in 1 - 2 months.

Option to collect from BNM Branches or any financial institutions (must have address).

Hope this helps.

use cash advance?

Or you can go direct to any BNM HQ/branches, and ask for CCRIS check from the enquiry/reception, they will guide you to which counter. On the spot <1hr, you'll get the report.

KL too far le.....me located in Penang.

If it was so simple I'd just say "Cash Advance" lol. No, it's not that. I wouldn't recommend CA cos it's quite expensive. What I have is cheaper and completely legal.

Let me guess, they go to you and you or the company you work for would issue cash. Than the "swipe", you guys would swipe it as "retail" swipe and convert it into either installment plan with interest or interest free.
Btw, how does the company report the "services" they offer to the acquiring bank when the apply for the merchant terminal.

p/s: Banks are starting to act on it by terminating this sort of merchant service. It's not fraud but it's violating the T&C. Hope your company doesn't get investigate though........

Wah, I wish I had a company like dat lo, got so much ready cash to offset ppl's loans haha! But come to think about it, what you described sounds a bit like how banks fish each others' clients by offering balance transfers, only in this case, the merchants "fish" clients and give it back to the issuing banks. Go figure. Btw there's no such thing as interest free wan, whether balance transfer or easy payment plans.

Don't believe me, next time you apply for easy payment see if you can get the same item cheaper if you paid cash

This post has been edited by gregy: Apr 19 2008, 02:28 AM

re financing is better. it is the lowest interest rate among all the personal loan, cash advance or credit transfer. pls remind tat, bank is the worst blood sucker. if u really need money, try to look outside the ring. dun depend on the bank.
i hate dealing with bank personally.

if u got some repo.... try set up a main kutu.

i use it to settle my finance problems.

Yeah, but dont dare to try with 'ah long' lol..at 1st yeah you can later arrr...huh scary cat lol!

how do you get your car loan approved in the first place?

stay away from personal loan as far as you can
you'll regret it

this thread is 2 years old thread..I think TS already found his own way out .....

Bank Rakyat is another option

if ur company got potongan gaji with them only. Outsiders not allowed.

I've tried many times alrdy...