Date: 2008-05-30 17:51:58
Query : i want to consolidated all loans make single premium
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Date: 2008-05-30 18:17:58
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:
You will also need to list your Credit Card outstanding and Net Income.
Looking forward to your response on this.
Best Regards
Amitoj Sethi
www.deal4loans.com
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Date: 2008-05-31 10:29:29
Message:
loan 1 : 89000,24 months, 20 % ,4522,13 months. kotak bank personal
loan 2 : 72000, 36 months , 18.24 % ,2658,6 months .icici bank personal loan.
loan 3 : 75000, 30 months, 24 %, 3625, 6 months. citibank. personal loan.
loan 4 : 55000, 36 months, 30 % 2426 6 months. cholamandalam
credit card oustanding due
icici bank 9500,
hdfc bank 25000,
nett take home salary 25000, and rent receipt 7000, and parents income 10000,
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Date: 2008-05-31 10:40:38
Message:
loan 1 : 89000,24 months, 20 % ,4522,13 months. kotak bank personal
loan 2 : 72000, 36 months , 18.24 % ,2658,6 months .icici bank personal loan.
loan 3 : 75000, 30 months, 24 %, 3625, 6 months. citibank. personal loan.
loan 4 : 55000, 36 months, 30 % 2426 6 months. cholamandalam
credit card oustanding due
icici bank 9500,
hdfc bank 25000,
nett take home salary 25000, and rent receipt 7000, and parents income 10000,
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Date: 2008-06-02 14:46:49
Message:
Your monthly net take home is Rs. 25,000 (including quarterly allowances)
Your monthly EMI commitments is Rs. 14,961 (assuming 5 % payment on credit card balance)
Based on the data provided, your eligibility for top-ups is as listed below
Principal Tenure Rate of Interest EMI EMIs Paid Principal Balance Top-up Available
Loan 1 89000 24 20.00% 4529.726435 13 45184.16615 43815.83385
Loan 2 72000 36 19.50% 2657.470353 6 62704.65491 9295.345086
Loan 3 75000 30 31.00% 3623.256722 6 64209.2883 10790.7117
Loan 4 55000 36 33.00% 2426.122633 6 49127.28817 5872.71183
My recommendation to you is as follows
a. Opt for a top-up on loan 1. This should generate liquid cash to the extent of Rs. 35,000 without any change in your monthly outgo, but your tenure will increase.
b. If the loan provider is able to offer a top-up with an enhancement, please take up the offer. There will be an increase in the EMI in this case.
c. Use the Rs. 35,000 to pay off card debts as these are typically at 36 %.
d. This should bring down your monthly EMI commitments by about Rs. 12,770.
e. Use your cards sensibly and pay the full amount due at the end of every billing cycle.
You should ensure that all additional income is ploughed back to ensure that your debt is reduced. Please regulate your expenses and get into a habit of saving a portion of your salary every month. Prudence in expenses is the only trick to stay out of debt traps.
Do get back to me for any clarifications on your personalised debt consolidation plan.
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
www.deal4loans.com
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Date: 2008-06-02 15:25:58
Message:
loan 1 89000 is loan is not offering top up loan is there any band that these all loans can take over and make single emi
please let me know
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Date: 2008-06-02 15:28:36
Message:
sorry for the spell mistake band = bank
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Date: 2008-06-04 12:21:20
Message:
Am sorry but banks do not take up existing loans , for you to make a single emi.
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
www.deal4loans.com
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City : Bangalore
Employment Status : Salaried
Annual Income : 300000
Type of Loan Running : Yes
Loan Running : pl, cl,
EMI Amount : 25000
Tenure : 36
ROI Loan : Yes
EMI Paid : 6 to 9 months
Credit Card Holder : Yes
Amount Due : 0
Loan Running on Credit Card : No
Residential Status : owned
Vehicle Owned : 4 Wheeler