Date: 2008-09-12 15:31:07
Query: ...want an emi with long tenure & amt shd be upto 15000/- total
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Date: 2008-09-12 15:34:36
Message:
I am not able to understand your question. Can you please clarify.
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
www.deal4loans.com
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Date: 2008-09-12 15:40:58
Message:
i am paying all my salry in emi
i want to combine these loans & pay it with long tenure & less emi ...maximum emi i can pay is 15000/-
i was in credit card trap...to clear them i took loans & now it is going beyond my capacity...pls help....i dont mind paying for 7-8 years but emi shd be less
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Date: 2008-09-15 13:26:11
Message:
Your monthly net take home is Rs. 22,000 (including quarterly allowances)
Your monthly EMI commitments is Rs. 27,601 (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 475000 60 15.00% 11300.21679 24 325980.3752 149019.6248
Loan 2 475000 48 15.34% 13301.6153 8 414508.8271 60491.17289
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. 60,000 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. 60,000 to pay off card debts as these are typically at 36 %.
d. This should bring down your monthly EMI commitments by about Rs. 24601
e. If you have assets to mortgage, you can use the funds to clear of your debts.
f. 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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City: Mumbai
Employement Status: Salaried
Date of Birth: 22-04-1966
Earning Members: 1
Dependants: 1
Net Salary: Rs. 22000
Assets
Property: Do not own
Vehicle: Owned
Other Assets: Do not own
Loan Details
Loan Type: Personal Loan
Loan Amount: Rs. 475000
Tenure: 60
Emi: 11300
ROI: 14
Emi Paid: 24
Loan Type: Personal Loan
Loan Amount: Rs. 475000
Tenure: 48
Emi: 11300
ROI: 19
Emi Paid: 8
Card Details
Payment Due Status: M A D
Outstanding on Card: 60000
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Hello Sir I had taken a loan
Hello Sir
I had taken a loan from GE Money for the Amount Of 42000, i had agreed to the ECS system. Then my nightmare started from the first installment it self. for the first five or 6 months they used to tell me that my ECS did not go through as they did not enter the ECS code on the form & because for this it used to shows as ECS bounced on my bank statement
I checked my statement & enough funds were there in my account.
now if i am applying for loans i am not getting it as the bank states that there is ECS bounced on my name
Pls help me on how should i avail loans