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 i got 1 million of debt, what shall i do?, debt& financial planning

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cfa28
post Nov 10 2014, 06:40 PM

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QUOTE(homosapien8888 @ Nov 10 2014, 06:36 PM)
hi , my debt is about 1 million, hope to get advice from  sifu here
i got 50k cash now, how should i use it now?

house 1 , debt 443k installment 2600/month , interest rate blr-2.3 - no rental
personal loan 41k, 24 month now left 18 month , rm1815, interest 3.13%
house 2, debt 460k - DIBS, will need to serve the installment 1Q 2015, installment about 2.1k a month, BLR-2.4
car loan , 100 k , interest 2.48 % monthly installment 1874, 5 year,

how should i restructure my debt?

my income to debt ratio is 90 % at this moment
*
which house are u staying in?

U need to sell 1-house ASAP.

Hopefully, the value of your house has appreciated enoug to pay off your P-Loan also



 

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