i have settled my cc debts in one lump sum.. becos i would like to get a loan for house buying.. im sure my name appear in ctos or ccris watever as npl for quiet sometime. but now i have repaid and have clearance/ releaase letter from that bank.. do u think my housing loan can be approve?

check with CCRIS first..sometimes it took time to erase your name in their list..follow up with them

it takes months to clear ur name from ccris ... better bring the letter from the bank or try apply loan from the same bank

to clear CCRIS record at least a year.
if CTOS, is forever there.

Some banks accept it with settlement letter, release letter.Bet some they don't care whether u hv settle it o not as long as u hv habit of delaying the payment, they still stick to CCRIS 1 year record.

Try to submit more banks for approval

try MBSB?... maybe they can approve.
rates maybe higher though

scym1981, may i know when did you settled your CC debts? If the CC was totally cancelled, then it might not appear on CCRIS.

--------------------

**Learn 17 ways to make $ on property investment by Millionaire Investor Milan Doshi**

**Discover How To Be Financially Free In 3 to 5 Years only By Applying Scientific Approach Methodologies In Online Forex, Gold & Crude Oil Trading Where You Will Be Profiting CONSISTENTLY 10%, 20%, 30% ... per month**

provide letter of settlement when u apply the loan

Wow.take at least a year? but why some said it takes 3mths?

There is another similar thread already. Do a search..

As long as you settled your debt and your monthly commitment(such as car loan and other loans) does not exceed 60% of your monthly income, there shouldn't be any problem to obtain a home loan.

CTOS may show that you owed money but usually their database is 2-3 months old. So as long you can provide your credit card statement or payment receipts that you already settled your bill to your agent, then it's fine.

I went thru the same thing too. I settled my bills and got it approved in 2 days time. Same situation like yours..

Cheers..