Writ of Summons

[YellowRibbon]

What happen if i receive this letter ?

Citibank sent me this letter making a claim against me.

Do i need to appear in Court ?

Or call their lawyerto negoiate payment ?

Pls advise.

Thanks

 

[erection2015]

my bro in law kena quite some time back. I dun think he had to attend court. Can call Citi's lawyer and work something out.

All the best.

What happen if i receive this letter ?

Citibank sent me this letter making a claim against me.

Do i need to appear in Court ?

Or call their lawyerto negoiate payment ?

Pls advise.

Thanks

 

[YellowRibbon]

my bro in law kena quite some time back. I dun think he had to attend court. Can call Citi's lawyer and work something out.

All the best.

Thank u ! thats a relieve.... I call tomorrow

 

[Narong Wongwan]

Pay up la! Either in full or negotiate installments

 

[Narong Wongwan]

Add on, whether you pay up or not also no need appear court....

 

[erection2015]

bro,

from what i vaguely recall....when he called up the bank's lawyer, the guy initially played hardball....sounded very rough and tough. But after some pleading and bargaining they relented.

Your best stance is to tell them something like ....' look i can try my best to repay but can we do it in a manner that wont kill me.'

Eventually they will try to help you not becoz they suddenly fell in love with you but they also know that if they push too hard , you may default by virtue of going bust. Obviously its not in their interest if that happened.

So ya...can work things out.

Thank u ! thats a relieve.... I call tomorrow

 

[middaydog]

bro,
So ya...can work things out.

or can run road to join Pataya club

 

[chonburifc]

or can run road to join Pataya club

Before doing that, max out all the available credit lines, credit cards, LML and Ah Longs.

 

[erection2015]

dats very true...and what i would do if this happened to me. The age old saying holds true that '' there is the correct thing to do and there is the smart thing to do ''

Correct thing is to pay up.
:(

Smart thing is to ciao lor

or can run road to join Pataya club

 

[chonburifc]

What happen if i receive this letter ?

Citibank sent me this letter making a claim against me.

Do i need to appear in Court ?

Or call their lawyerto negoiate payment ?

Pls advise.

Thanks

Add something high tech here.

There is certain customised software used by the banks to keep track of debtors payment record. Information on the time and amount is being captured into a database. The software, I think call Neutral Network or Data mining or some other high tech names that will analyse and categorise your repayment records without human intervention. If the software detect something wrong with your repayment pattern, it will be categorised as high risk and that will trigger human intervention.

Hopefully, you only have 1 group sending you this letter. If you have multiple groups, then good luck.

Edited: Should be Neural Network instead of Neutral Network

 

[YellowRibbon]

Add something high tech here.

There is certain customised software used by the banks to keep track of debtors payment record. Information on the time and amount is being captured into a database. The software, I think call Neutral Network or Data mining or some other high tech names that will analyse and categorise your repayment records without human intervention. If the software detect something wrong with your repayment pattern, it will be categorised as high risk and that will trigger human intervention.

Hopefully, you only have 1 group sending you this letter. If you have multiple groups, then good luck.

Imagine this software falls into the hands of ah longs !!!

 

[chonburifc]

Imagine this software falls into the hands of ah longs !!!

Ah long don't need computer. Just 555 notebook can already. Same concept but different execution. One pay millions for a software, the other pay 50 cents for a 555 notebook. Only thing is 555 notebook can become an evident if kena arrested.

 

[YellowRibbon]

Ah long don't need computer. Just 555 notebook can already. Same concept but different execution. One pay millions for a software, the other pay 50 cents for a 555 notebook. Only thing is 555 notebook can become an evident if kena arrested.

I mean all the syndicates share one database software. Just like the banks

 

[chonburifc]

I mean all the syndicates share one database software. Just like the banks

Neural network software was used for profiling and categorizing potential loaners. Even before a loan is approved, a software is used to evaluate the chances of a potential loaner defaulting a loan and the outcomes. It is to help the approval to make decision whether to approve or reject high risk loans. Such system are very common in the finance, gaming and insurance industries.

While Ah Longs can afford to use such software but the outcomes of defaulting from banks and Ah longs are quite different.