Date: 2008-10-04 14:40:51
Message:
City: Surat
Employment Status: Self Employed
Date of Birth: 14-07-1972
Earning Members: 1
Dependents: 2
Net Salary: Rs. 25000
Assets
Property: Financed
Vehicle: Owned
Other Assets: Owned
Loan Details
Loan Type: Personal Loan
Loan Amount: Rs. 200000
Tenure: 48
Emi: 6086
ROI: 20
Emi Paid: 12
Loan Type: Personal Loan
Loan Amount: Rs. 121000
Tenure: 36
Emi: 5632
ROI: 20
Emi Paid: 18
Loan Type: Other Loans
Loan Amount: Rs. 178200
Tenure: 24
Emi: 7425
ROI: 0
Emi Paid: 0
Card Details
Payment Due Status: M A D
Outstanding on Card: 80000
Payment Due Status: M A D
Outstanding on Card: 37000
Payment Due Status: M A D
Outstanding on Card: 24000
Payment Due Status: M A D
Outstanding on Card: 37000
Payment Due Status: Full Payment
Outstanding on Card: 38000
Query: not filed my income tax returns for the ass year 07-08, 08-09. personal loans are from citibank and kotak bank. need money urgently so as to pay the card bills in full to save on huge interest. please do guide and help me out and if possible consolidate my loan
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Date: 2008-10-06 10:50:35
Message:
a. Opt for a top-up on loan 1 & 2. This should generate liquid cash to the extent of Rs. 80,000 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. 80,000 to pay off card debts as these are typically at 36 %.
d. You can apply for a loan to clear your balance dues on our website www.deal4loans.com.
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