Message:

City: Bangalore
Employement Status: Salaried
Earning Members: 1
Dependants: 3
Net Salary: Rs. 30,000/-
Assets
Property: Do not own
Vehicle: Owned
Other Assets: Do not own

Message:

City: Bangalore
Employement Status: Salaried
Earning Members: 1
Dependants: 0
Net Salary: Rs. 300000
Assets
Property: Rented
Vehicle: Do not own
Other Assets: Owned
Loan Details

Message:

City: Bangalore
Employement Status: Salaried
Earning Members: 1
Dependants: 0
Net Salary: Rs. 300000
Assets
Property: Rented
Vehicle: Do not own
Other Assets: Owned
Loan Details

Date: 2008-06-23 19:52:07

Query : SINCE I AM A SELF-EMPLOYED I DO NOT SHOW DIRECT INCOME AND THE NETT OFF IS TOO LOW. SUGGEST TO GET RID OF THE LOANS IN A SHORT SPAN OF TIME
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Date: 2008-06-23 21:21:59

Message:

To help me prepare a personalised debt consolidation plan for you, I need the following information from your end.

Initial Loan Amt |Tenure|Rate Of Interest|EMI|No of EMI Paid
Loan 1:
Loan 2:

This is 2nd in my series of articles on how to avoid Debt Traps. In the first one I had talked about how to use Credit cards wisely. I now switch my focus to the next most popular debt instrument- Personal Loans.

Personal Loans have seen a very high rate of take-up till about 4-5 months back and this was the growth driver for most Retail banks.