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Debt Relief Plan Hong Kong

  1. #11

    Join Date
    Jul 2009
    Posts
    1,366
    Quote Originally Posted by trackdragonbar
    all those fin company denied... so proper solicitor is my last hope. are they flaud? one solicitor famous on web ads said, Im sure you get loan.
    Don't even think about it - it's likely to be a scam.

    Have a look at this first and then call up Caritas:
    https://www.thechinfamily.hk/web/en/...ying-debt.html

  2. #12

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    22,177

    @ray98 - thanks for the Chin Family link. Had forgotten about that resource.

    Have a GeoExpat related problem - please create a support ticket.

  3. #13

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    22,177

    @ray98 - thanks for the Chin Family link. Had forgotten about that resource.

    OP - YTT is a well known solicitor, but before you send money with them, consult with the Caritas and Tung Wah groups who are non-profit. YTT will not give you any dodgy advice, but it is best you start with a non-profit and get some unbiased optons.

    Have a GeoExpat related problem - please create a support ticket.

  4. #14

    Join Date
    Jul 2009
    Posts
    1,366
    Quote Originally Posted by trackdragonbar

    Is YTT reliable?
    YTT is very reputable, but their Debt Relief Plan service is still subject to banks and finance companies approval. For someone with your credit, it is very unlikely that a single bank/financing company would take on your risk under a consolidation loan. It's portfolio theory applied to debt, much like why syndicated loans and reinsurance activities thrive, one lender/insurer does not want to bear all the default/compensation risk associated with one borrower/insured party. If you go under, then the various lenders are going to take the hit rather than just one lender taking the default hit.
    shri and trackdragonbar like this.

  5. #15

    Join Date
    Jan 2017
    Posts
    83

    There are accounting firms and solicitors who will assist you with an IVA (Individual Voluntary Arrangement). Google IVA Hong Kong and you will see things like this:

    IBC - IVA vs Bankruptcy

    shri likes this.

  6. #16

    Join Date
    Apr 2018
    Posts
    6

    after everything is done.

    now I know I didn't have to pay to YTT for debt problem.
    Just contact creditor directly.


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