Date: 2009-07-27 10:22:12
Name: Neeraj Kumar
Message:
City: Delhi
Employment Status: Salaried
Date of Birth: 14-01-1980
Earning Members: 2
Dependants: 3
Net Salary: Rs. 62500
Assets
Property: Do not own
Vehicle: Financed
Other Assets: Owned
Loan Details
Loan Type: Personal Loan
Loan Amount: Rs. 280000
Tenure: 48
Emi: 7905
ROI: 16
Emi Paid: 21
Loan Type: Personal Loan
Loan Amount: Rs. 150000
Tenure: 36
Emi: 5561
ROI: 18
Emi Paid: 0
Loan Type: Personal Loan
Loan Amount: Rs. 221000
Tenure: 60
Emi: 5660
ROI: 18.25
Emi Paid: 16
Loan Type: Property Loan
Loan Amount: Rs. 205000
Tenure: 60
Emi: 5860
ROI: 18
Emi Paid: 16
Loan Type: Property Loan
Loan Amount: Rs. 89000
Tenure: 36
Emi: 2661
ROI: 18
Emi Paid: 26
Card Details
Payment Due Status: Full Payment
Outstanding on Card: 66000
Payment Due Status: Full Payment
Outstanding on Card: 28000
Query: Could you please advice me how I can come over with this financial mess which I created in last two three years. What is the best way to deal with this current situation?
Date: 2009-07-27 11:14:23
Message:
Dear Neeraj Kumar
The best way to avoid all financial mess is to pay your credit's on time, either its a credit card payment or an loan Emi.
According to the details provided here, try to take a top up on your third Personal Loan and with the amount pay your Credit card outstanding.Along with that you can also take a top up on your loan against property and with the amount try to close your second Personal loan
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.
Please revert with any clarifications on the above answer.
Date: 2009-07-27 11:28:50
Message:
Thanks for the reply Amitoj.
Could you please suggest which is better from the follwoing
1. Pay the EMI as I'm paying or
2. Take one Loan equal to all my laon dues and pay a singal EMI?
Is there any way in which I can get a break of paying EMI for 2-3 months?
Thanks and Regards,
Neeraj
Date: 2009-07-27 14:53:51
Message:
Dear Neeraj Kumar
If you are not facing any problem in paying these Emi's, then please kept them the way they are.
On the next question,there is no such break that the Bank's offer in skipping the Emi for a period of time.
If you have any query, please feel free to revert back.
Please revert with any clarifications on the above answer.