Date: 2008-07-09 11:12:57
Query : I WANT TO CONSOLIDATE ALL MY LOANS INTO ONE AND NEED SOME WORKING CAPITAL FOR MY BUSINESS
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Date: 2008-07-09 12:00:49
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.
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
www.deal4loans.com
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Date: 2008-07-09 18:19:07
Message:
These r the details of the total outstanding of my loans and credit cards, for ur information I also want to tell u that right now our o/d limit with the bank is freezed and we r facing problem for the past 6 months. I will b very grateful if u pull me out this trap and I also need funds to run my business as I am recieving good orders for the coming season and I also have a good reputation in the market.
loan 1 167000/- 36 21 6039 21
loan 2 200000/- 36 20 7484 10
loan 3 225000/- 36 20 8215 08
loan 4 125000/- 36 20 3669 09
loan 5 225000/- 48 26 6845 09
cr/crd 175000/-
50000/-
Details are given to u and hoping to get a positive response.
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Date: 2008-07-10 23:58:32
Message:
Do you have any assets you can leverage / mortgage / liquidate to improve your cash flow situation ?
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
www.deal4loans.com
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Date: 2008-07-13 15:05:35
Message:
No, I don't have any asset right now which I can mortgage or liquidate.
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Date: 2008-07-14 11:38:03
Message:
Your monthly net take home is Rs. 20,000 (including quarterly allowances)
Your monthly EMI commitments is Rs. 32,249 (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 167000 36 18.00% 6037.450054 21 80559.10284 86440.89716
Loan 2 200000 36 20.50% 7483.767286 10 156055.6302 43944.36975
Loan 3 225000 36 18.70% 8213.516614 8 185222.6528 39777.34724
Loan 4 125000 36 3.60% 3668.29725 9 95002.14768 29997.85232
Loan 5 225000 48 20.00% 6846.831527 9 195196.321 29803.679
My recommendation to you is as follows
a. Opt for a top-up on loan 1,2,3,4 & 5. This should generate liquid cash to the extent of Rs. 2.25 lacs 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. 2.25 lacs to pay off card debts as these are typically at 36 %.
d. This should bring down your monthly EMI commitments by about Rs. 32,249
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: 2008-07-15 08:09:02
Message:
Dear Amitoj,
The top up plan I have already done but there is not any relief with that I want a plan that of around Rs.5.00 lacs so that some of the loans which have a higher rate of interest I will repay them and some of the cards payment will also be made out of that and after that rest I will pump into my business so that my monthly income should increase and my earnings will also increase and I will have to squeeze my expenses also. If that can be done I will be able to come out of it.
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Date: 2008-07-15 15:10:02
Message:
Please post your requirements on www.deal4loans.com and representatives from various banks will get in touch with you.
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
www.deal4loans.com
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Date: 2008-07-15 16:39:54
Message:
Dear Amitoj,
Ineed some working capital which is cheaper from a nationalise bank and I can also have a breathing space and is much more feasible. If that can be arranged will be faster and comfortable for me.
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Date: 2008-07-16 15:08:57
Message:
Yes, you can approach any nationalised bank for a loan where the interest rate would be cheaper.
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
www.deal4loans.com
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Date: 2008-07-16 17:06:34
Message:
Dear Amitoj,
If u can arrange that for me it will be easier for me and your part will b taken care of.
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Date: 2008-07-18 10:29:25
Message:
Dear Amitoj,
If u have any other plan or u can arrange the funds from a nationalised bank.
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Date: 2008-07-18 12:26:01
Message:
Am sorry, but we do not have a tie up with any nationalised bank for a business loan.What you could do is approach your main bankers with your project report.And they should be able to help you out.
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
www.deal4loans.com
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Date: 2008-07-18 18:49:24
Message:
Dear Amitoj,
Thanks for ur support, I'm really thankful for that.
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City : Gurgaon
Employment Status : Self Employed
Annual Income : 500000/-
Type of Loan Running : Yes
Loan Running : pl,
EMI Amount : 50000
Tenure : 36
ROI Loan : Yes
EMI Paid : 9 to 12 months
Credit Card Holder : Yes
Amount Due : 50000/-
Loan Running on Credit Card : No
Residential Status : Rented
Vehicle Owned : 4 Wheeler