CLIENT'S APPRECIATIONS

I am writing this in appreciation of Mr. BJ of DebtReform.

I am a businessman and in Aug 2007 due to some irregularities by my partners I lost about S$2 million precipitously in commodity trading.  The disaster was very sudden and I had little recourse and time to redeem the debts owing to me.  There were about five parties involved as claimants upon me and as the time was most uncompromising it was a hellish time trying to fend off the many pressures and law suits by creditors and, honestly many so called financial advisors were really "uniformed or unemphatic" to my problems which were by no means hopeless given time to solve.

It was by a stroke of luck that I finally landed seeking Mr. BJ Tan (BJ) of DebtReform at Amoy Street for advisories.  Maybe it was affinity but the moment I spoke to him he exuded an aura of confidence and clarity into my problems instinctively.

Actually it was most unusual about BJ; he is a youngish looking man but evidently had seen a fair bit of life.  Needless to say he understood my problems most empathically without too much lengthy explanations, and with a great sense of assurance.  The remarkable characteristic about him is that he has a knack of cutting through the "legalities" of my problems with my creditors which was a great help for he was sizing me up and able to personally put up credibility on my behalf with these financial institutions and other creditors.

What also impressed me was his readiness to go the extra mile for me to handle the nitty-gritty of arbitration which made further dealings with the counterparties a "breeze" which was a great relief.  The unusual thing- BJ despite my financially perilous condition during those times treated me with respect like a "father".

Well through his efforts I was able to come to term more amicably than thought with the creditors with him in the middle counselling both sides.  It was a not a totally unpleasant or frightening experience with BJ representing me with his experience and deft touches.  I am still in touch with him and actually consider him as a "Godson" whom I can call even in the deep of the night and holidays when imagination seem to get too uncomfortable sometimes.

I am now recovering quite well financially without too much hubris from my creditors whom he willingly talks to on my behalf without extra fees if needed.  This is the measure of the man ....sometimes it is not the overwhelming expensive qualifications which clients have to pay for but the understanding and calm assuring confidence which the man has.

Mr. Yeo (In his 50s)

For more than a year, I've had so many sleepless nights as I was very worried about my financial problems and how they would affect me and my family. Not only did I owe a lot of money to several banks, I also borrowed from my family and friends to pay my bills. I was getting deeper into debt every day then, and was very concerned about dragging my family along with it.

I constantly worried about how to go on in life as I could not think of any solutions.  Life was totally miserable. To me, that period of time was the lowest point in my life.

One day, as I was discussing my situation with my friend, he referred DebtReform to me.  My friend told me about DebtReform and said they might be able to help me in managing my financial situation. I made an appointment for a consultation, and it turned out to be the light at the end of the tunnel.

DebtReform managed my case very professionally and had clearly demonstrated the expertise it possesses in debt management from the very beginning.  The consultant was very understanding, experienced and competent.  After assessing my situation, DebtReform provided effective solutions to my financial problems.

During the whole process of getting my financial issues sorted out, DebtReform provided invaluable guidance and counsel to me along the way.  When my financial problems were settled, I felt extremely relieved. I was so glad to have found a way out.

I'm very thankful to DebtReform for helping to put my financial problems behind me.  To me, contacting DebtReform was one of the best decisions I've ever made.  And it proved to be well worth it. From personal experience, I highly recommend their services to those who need it.

Ms Linda (In her 30s)

Due to the slower economy, my Company decided to cut back on OTs.  This became a problem for me as I was only able to keep up with my minimum payments because of the additional income.  It got worse when I started using cash advances from my credit cards and even resorted to applying for new cards and lines.  It got so bad that my debt ballooned from $60k to almost $100k within two years.  This was a trying time for me and I even contemplated suicide on a few occasions.  I spent many nights awake worrying about all my debts and having to pretend that things were OK in front of my friends and family.  Due to all this stress, my work performance and relationship with my wife took a turn for the worst.  It was during one of these sleepless nights that I stumbled across DebtReform's website.

During my first meeting with B J Tan, my impression of him was that he was very knowledgeable as he could answer all my queries with confidence and without hesitation.  He was also very reassuring and patient with me even though I was asking a lot of questions.  He also made an extra effort to explain every single process and alternatives clearly to me.  After the meeting, I felt like a huge burden has been removed from me as I now know what course of actions is available for me.

During my interactions with him in the following three months, I found B J to be very friendly, responsible and understanding person who is very passionate about helping others.  Throughout the whole process, he treated me with respect and was always quick to reassure me whenever I get panicky and cheered me up when I am depressed.  What touched me the most was when he went the extra mile to counsel me and my wife after I finally had the courage to disclose my true financial situation to my wife.  Even though he was very busy, he took the effort to sit down together with us to discuss our problems.  Only someone with true compassion will bother to do what he did for me. 

DebtReform eventually managed to help me to arrange a lower monthly installment with the banks, a plan which I am now able to service within my means.  Thank you so much, B J for all the help you have provided me, without it I believe I would now already be a bankrupt, without a job and most probably divorced from my wife.  I am so glad that I came to you for help.

Mr. Vincent Yong (In his 30s)

I would like to express my appreciation to BJ for his consulting assistance and emotional support during my periods of financial difficulties and the insolvency process.  BJ is a professional consultant backed with legal support in this field and he delivers his services with a 'no-frills' attitude.  His knowledge is strong, and he manages the relationship well. He mentors individuals who are suffering from financial depression and guide them through the process in rectifying their financial issues.   BJ provided the administration assistance for all documentation, applications and was willing to enact as a representative and accompany me through the meetings.  I would recommend anyone experiencing financial difficulties to contact BJ for assistance immediately.  Do not waste time pondering, for you will only be prolonging your difficulties. Take action immediately.

My Story

According to my earliest email with BJ, my communications with him began in August 2008. In this testimony I would like to share my personal experience and also the feedback on BJ's services: -

I decided to become a full-time securities day trader in March 2007.  Financial markets were strong during then and I was able to profit as much as $15K per day (more money that I have ever made).  I financed 100% of my capital through more than ten credit accounts, and further geared my capital through margin financing. My combined portfolio grew to over $400K at one stage as almost all profits were reinvested back into margin after repaying the monthly loan amounts.

However, in August 2007 when the US markets issues hit, my portfolio was affected and I received several margin calls. Not having had the experience to deal with market volatility such as the current global credit crunch, I was not prepared.  I started to draw down all my loan accounts to meet with margin calls and loan repayments.  Being desperate to recover the losses,, I gradually became reckless. During that period, I was able to obtain over $150K of contra credit, and moved from a short-term to swing trader.  The market grew highly volatile and losses grew.  By November 2007, my portfolio had been reduced tremendously and I had completely exhausted all savings and loans.

By December, I was completely broke. I had sold all the valuable possessions I had and by January 2008 I had to borrow a monthly allowance from my love ones.  These amounts were only able to pay off the loan repayments. By July 2008, I became depressed. I had no money to survive or pay bills, banks were chasing for money, and my love ones couldn't help me any further.  My life was in ruins. My financial issues were affecting my love ones lives. My life was completely ruined.

In August 2008, for over a few months, BJ and I went though a series of questions and answers. Filing for insolvency was the conclusion, but I have to admit that I was in denial that it was the only option available for my case.  Being depressed and in that state of mind made thinking a lot harder.  I felt that no one really understood what I was going through.  But BJ remained patient and understanding.  In September 2008, I decided that I had no other choice left. I proceeded to file for insolvency with the assistance of BJ.

I am a believer that life is full of failures, and it is through these failures that we learn and improve. Looking back, at rock bottom, I did pondered suicide as an alternative.  After being financially crippled and having a wrecked life for a year, it'll drive anyone to feel that way.  But really, that's running away.  Shares Trading is an extremely good way of making money, but like any business or investment there are risks.  Unless such risks are able to be mitigated properly, such opportunities should be left untouched till preparations suffice the opportunities.

I admit that I grew impatient, and I became overcame by greed and lost control.  If I had exercised patience and control, good management and judgment, I believe that I would have been far better off today.  Importantly, this is a lesson has been learnt and must not be repeated.  As BJ mentioned, 'pick yourself up and start a new life' and 'don't make the same mistakes again'.

C.F. (In his 20s)

For more than two to three years, I thought getting a credit card was quite a good way of offsetting a very tight cash flow, which I have experienced when I began working in Singapore. I thought, if there was an emergency, then I am able to get emergency cash purchases, or even loans from a credit card. I have also emphasized at the onset of my work that I must have savings, which I did for sometime. Thinking to myself that this plan is already fool-proof, and leak-proof, I even added to my repertoire of credit cards the different unsecured loans from the banks. I thought to myself that I can even use this to help other people who might have similar cash flow problems, but are able to pay without delay. But that was the ruin of my finances, because when someone wanted to borrow money, I was borrowing against my credit lines, and even I was deluded into thinking that I can also do it and recover it later. As time went on, I realised that I myself could not repay the debts on my current salary alone, and even my friend's loans from me are not getting paid. Now I had a problem that seems bigger and it is becoming bigger like a day.

For at least one year this exercise of paying the minimum sum each month has now ballooned into a forceful exercise until all my savings have been decimated. Worse of all, as I was trying to swim against this huge "current", with my savings gone, my daily needs could not be met by my salary alone. It is because of this that I have to use the remaining "false cash" from the unsecured loan facilities in order to keep me going, until the next salary-- or to the next month. It was a very harrowing experience for me, as I was unable to save, or even buy my basic needs. With no money at the end of the 1st day of each month (my salary is credited to my bank account just the day before), I am left wondering when will this going to end. I was staying in a rented room, and this gave me sleepless nights also, because of numerous reports that I have received that those who have these types of debts can be evicted from their place without warning by the landlord once known. The worse part was when the banks began calling me on my office regularly without fail, demanding their just payment. If they fail to contact me, they would call my cellphone, almost every time I was in the office. It is already affecting my work performance, though I always tell myself that I should stay strong because without a job it would have been even worse. While they are calling me in the office, the banks at the same time would send me legal letters threatening me to pay up or else sue me for bankruptcy. One bank even sent me a writ of summon, to my address which I was so thankful that my landlord did not even see as he left for a holiday one night earlier. My worse fears had come, but I did not know what to do!

I did not know too much about Singapore laws regarding bankruptcy, nor how to handle my case. My life was so uncertain, and without relatives to seek for help, and with my friends who also were having financial difficulties, I had no choice but to seek a professional help, even if I have no money whatsoever to even engage any service. One night , while I was searching for a solution to my problem in the internet, I stumbled upon DebtReform. At first, it was too good to be true, or so I thought. With the clock ticking against me however, and without any choice left, I mustered all my courage to contact them.

When I finally went to DebtReform, I was met by B.J. and Joanne. They were both very friendly and very kind person that I have ever met. I thought those who were in debt did not even deserve any respect, for my foolishness with my finances. But here I was, B.J. and Joanne treated me with dignity, and respect!! Joanne was really very kind to help me while my mind was undergoing all the confusion, the threats from the banks, as she efficiently assessed my debts. B.J. and Joanne explained to me my options, and I realised that having some options gave me some hope that I can begin my new life again.

Joanne was tasked to take care of my case. Over the months from that first meeting, Joanne was the person who gave me a lot of advice on what to do every time there were calls from banks and legal letters from the banks' lawyers. Joanne also made sure that all the pertinent documents have been dutifully submitted to whatever the banks would demand, while she was also giving me updates (even after office hours) on how the negotiations with the bank lawyers were going on. Wow!! This is something I have never experienced and yet I felt a lot of reassurance that someone knowledgeable about my debt situation is handling this professionally, compassionately, and even with lots of dignity, with respect, and concern for my well-being. I am now have hope of a hassle-free work in the office, or at least the light at the end of the tunnel for my ordeal. I am also thankful  Joanne to be my help and adviser in this journey. She gave numerous suggestions, suggestions that really gave me a lot of courage to try. She is also very encouraging in her approach to my problem, making the suggestion the reality (instead of my fears, and the threats from other banks).

Throughout  this ordeal, Joanne has been a great help in making sure that I get the deal that will satisfy the banks' demands and yet is still advantageous for me. The help that I received from DebtReform through Joanne far outweighs what I would have gotten if I  have to do it alone. Their resources are tremendous, and I highly recommend DebtReform to everyone who are in this situation.  It is never to late to seek help, particularly for debt problem. It is never too late to seek help, whatever stage the person was in. Now, I have great hope for getting out of this situation, and slowly but surely, I am regaining my financial freedom, which I will never take for granted. Joanne, Thanks so much for helping me, for going extra mile in your help, and from making sure that every course of action is in proper order. I noticed that solving this type of financial problem requires a lot of wisdom, humility to follow an advice, and even a lot of trust to carry out that advice even if it looked so difficult to do. And in hindsight,  I owe it to Joanne for helping me in this very difficult time.

Lowell L. ~ 32 "

Saya hampir-hampir berputus harap bagaimana untuk menangangi masalah kewangan yang ditanggung selama ini. Namun , setelah saya berbicara dengan Cik Joanne, walaupun buat pertama kali menerusi telefon, saya diberi jaminan bahawa DebtReform akan sedaya upaya memberi saya bantuan sebaik mungkin. Berkat usaha Cik Joanne yang begitu komited, saya dapat �bernafas semula� dalam hal ehwal kewangan saya. DebtReform sangat prihatin dalam memastikan bahawa setiap masalah itu ada jalan penyelesaiannya. Jutaan terima kasih kepada Cik Joanne yang telah banyak menolong saya dalam memperbaiki masalah kewangan saya dan saya pasti lambat-laun saya akan bebas dari segala hutang-piutang!

Yanee S

I am writing this in appreciation of Miss Joanne Chua of DebtReform.

For more than 2 years, I've had so many sleepless nights as I was very worried about my financial problems and how they would affect me and my family. Not only did I owe a lot of money to several banks, I also borrowed from my family and friends to pay my bills. I was getting deeper into debt every day then.

I am a mother of 2 and have been facing a heavy financial difficulty even when both my husband and I are contributing to the household and to the benefit of our children. I was at my wits end trying to manage my budget and making ends meet which resulted me in a heavy debt. I could not foresee the consequences and the burden that I have put upon myself when I commit myself in such liability. To manage myself financially was impossible as I would exceed my budget inevitably.

One night, while I was searching for a solution to my problem in the internet, I stumbled upon DebtReform. I made an appointment with hopes that somebody there would help me in my financial management and budget. Ms Joanne has been very patient and kind in helping me while my mind was distraught by the letters and calls made from the bank. The consultation and advice from Ms Joanne has helped me to ease my burden. I can now breathe easily and focus on my family and work with the help of Ms Joanne and the steps that I should take in managing my financial planning.

I feel grateful and blessed to have met DebtReform and Ms Joanne. Their professionalism and kindness has helped me through these tough times. I feel secure and happier now.

I'm very thankful to DebtReform for helping to put my financial problems behind me. To me, contacting DebtReform was one of the best decisions I�ve ever made. And it proved to be well worth it.

Once again, thank you very much.

Ehmy

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