Date: 2009-06-05 12:36:19
Name: ZZZ
Message:
City: Hyderabad
Employement Status: Salaried
Earning Members: 1
Dependants: 3
Net Salary: Rs. 27000
Assets
Property: Rented
Vehicle: Financed
Other Assets: Do not own
Loan Details
Loan Type: Property Loan
Loan Amount: Rs. 50000
Tenure: 36
Emi: 2000
ROI: 13
Emi Paid: 17
Query: I have few more loans i am confused with the high interest rates as well .. i wanna go for just one emi that will not trouble me on my regular expenditure
Date: 2009-06-05 13:39:43
Message:
Dear ZZZ
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
Insurance- www.BimaDeals.in
Loan Gurus tips- www.AskAmitoj.com
Date: 2009-06-05 15:49:48
Message:
Hi Amitoj,
I have one personal loan from icici that is 50k i have to pay more 19 EMI's of it 1667 ... now i need some money to clear my dads loan that he took from his friend and that is also 50k .. so i am planning to take a loan of 1 lac and clear the old icici loan and make it just one EMI so that it done hurt me every month with 2 EMI's ... i have another 40k loan ( intrest free ) i have to pay that as well within next 12 months .. i have another loan of 35k that i took from my friend ( intrest free ) i have to pay that as well no time limit i can pay him any time but still i wanna pay him soon.. i dont have a credit card issue as of now coz i closed it last year it self now if u wanna know how i cleared it then the interest free loan that i have to pay to my friend is what i took from him to pay to the credit card :)
so please help me i think i am getting deep into this loan ocean ..
i earn 27k every month and the cash that is left in my hand is just 3k after all the expeences.
looking forward for you responce !
Regards
ZZZ
Date: 2009-06-08 12:20:36
Message:
Dear ZZZ,
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
Insurance- www.BimaDeals.in
Loan Gurus tips- www.AskAmitoj.com
Date: 2009-06-10 12:45:39
Message:
Hi Sir,
I wish i had some thing like that - naah i dont have notthing to mortgage. as i said u earlier - my 1 lac loan got approved and i took it and will pay icici 35k and 50k to my dad, my wife says she need to do some shopping so ill give her remaining 16k - 4k was processing fee.. so now i am left with notthing :o) i have spend 1 lac in 30 mins lolz ...
any ways do let me knwo if u have any thing that can help me
Cheers
ZZZ
Date: 2009-06-10 13:22:44
Message:
Dear ZZZ,
Banks as of now do not have a product where they take over debts and give a loan against that.
Since you do not have assets to mortgage,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.
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
Insurance- www.BimaDeals.in
Loan Gurus tips- www.AskAmitoj.com
Date: 2009-06-10 14:19:35
Message:
Hey Sir,
I really appreciate u taking time and responding to us so quickley !
Yes i know what u saying makes sence and for that i have planned to invest my money in chit funds so that i get a bulk of amount and i can clear the loan that i have as of now and till then ill have my next appresal and i hope this time i get a hike in my salary :) !
One final question i have is ..
Q : - the PF a/c that we have in our companyes can i invest or deposit some money in that a/c like a 50k or some thing coz the interest that we get is too good in that PF a/c.
if that can heppen i am planning to deposit some amount there so that when i withdraw it i get good returns.
Date: 2009-06-10 20:49:13
Message:
Dear ZZZ
You may not be able to make deposits in a pf a/c as it does not work like a regular account. But there are ppf a/c where you can make deposits and get a good interest rate and tax rebate.
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
Insurance- www.BimaDeals.in
Loan Gurus tips- www.AskAmitoj.com
Date: 2009-06-11 12:30:28
Message:
Dear Amitoj,
Thanks a lot for your help. and I wish you all the best :)
Cheers
ZZZ
Date: 2009-06-11 13:34:30
Message:
Dear ZZZ
Most welcome.
Regards,
Amitoj Sethi
Insurance- www.BimaDeals.in
Loan Gurus tips- www.AskAmitoj.com