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

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champu
post Nov 10 2014, 09:41 PM

Champu
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Senior Member
633 posts

Joined: Apr 2014



QUOTE(cheechongfun @ Nov 10 2014, 06:51 PM)
Settle the loan with the highest interest first.
I presume the personal loan will be the highest interest among all.
Settle the 41k personal loan with your 50k on hand.
Try rent out 1 property, aim for rental at least equal to your installment, therefore less 1 worry.
*
This.

Your biggest cash-milking are 1. Personal Loan & 2. DIBS House

Focus on making these two your priority to settle, i.e. pay off PL and rent out 2nd house possibly equal to your bank payment

 

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