Dear All,

I'm new in low yat forum. Currently i owe few banks with almost spending all my limits. All the while i'm serving interest for almost 3 year now. I;ve prompt payment and little spending in the credit card. Till todate after 3 years of payment . I still owe almost the same 3 years ago.

Anyone can advise me how to settle this problems. BTW, i owe almost 80 K in total spending. and my pay is only 7K net. How can i survive with this. I'm getting more commitment now. SO i need more advise on the financial spending.

Just curious if anyone can give me your opinions. Appreciate that. Thanks

Regs,
Insaf now.

Go akpk lo.google it

Take personal loan and pay back.

80K? Did you renovate your home?

total debt of RM80k is a lot man!
What you buy lah?

Maybe rm1000 per month to pay off your CC debt would do it?
Must be disciplined and try to limit your CC to only petrol, car maintenance & emergency cases after this.

For others, buy using cash. If can't afford it, then don't buy it all.
But if you really can't resist the urge, then buy installments, but that would lead to more debts.

Good luck!

7k net?

Then you must learn from /k.

Some /k earn 20k per month so no problem

For the others, they earn 2k yet they can afford vios because they berjimat cermat.

ni confirm biar papa asal bergaya

You paying 1k every month to bank just for the interest??
First of all, let me salute you for your "smartness"

Ok, now you need to convert the cc outstanding to become loans, maybe talk to the bank or take personal loan like someone suggested.

Take advantage of balance transfer with lower interest rate

I think he is pulling yr legs.

cant u just stop spending meh...


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This post has been edited by ktek: Jul 6 2015, 05:36 PM

Pay is not too low so yeah take personal loan or friends family. Try focus paying to finish card by card, by apportioning your payments and each time u fully clear a card, the interests will be lower in total

I have a friend that take a loan to pay loan: ptptn, car loan. He took a total of 80k loan and balance of the loan he use it to splurge on other things. Now he has to pay 800/mthly for the loan (half of his salary, he is lower rank gomen servant) and he still no insap yet

alamak.. the 3 years interest already 20k lol

Keyword detected: insaf

At your rate, the only way for you to clear your debt is to convert your debt into loan and cancel your card. I mean, all your credit cards.

Start to buy necessities using cash only.
When you are paying using cold hard cash, then you will realize how difficult it is to come by.

potong kad hang

go to akpk, sign up for their program

on the rate u are paying right now, it is almost impossible for u to finish paying your debt

bro, Balance Transfer to reduce the interest.

But 80k, to pay in 2 yrs, i dunno whats the installment going to cost you

Wow..80K, that's a lot bro..but your income is 7k, you should and can manage it. No worries, life is not end yet.

Mine CC debts is 10K and paid RM1k per month, however even i pay 1k, i still use about half using CC to pay some other thing. Not sure when to complete, but i really needs to discipline myself to pay and not to use. Keep the debs lower and lower each months forward.

Bank are always looking for 'water fish' like you. Easy interest revenue for them. I am getting about the same salary (could be higher) and I have no problem in managing my cards debts. Credit card is just another channel of payment, spending should always rely on your cash affordability, not your credit limit.

Conclusion is you have screwed up. Don't take any other loan to cover this 80k. The only way to exit is AKPK and be extremely discipline during the repayment period.

list out ur spending pattern.. n let see if someone could help you. unnecessary thing could be cut and pay off your debt

take Personal loan first to clear the loan.. then slowly kaotim the loan..

this is bette because the interest is much much much less than cc interest

like all mentioned before -> akpk. 80k is too darn much.

How to convert? Nego with the bank for agreed amount and convert to loan?
Assuming applying personal loan will be rejected since his amoumt is quite huge.

80k with 18% interest a month is 1.2k. It's steep but manageable given his income. I don't think TS needs AKPK at this point if he can instill discipline and reduce interest by refinancing some of his debts via balance transfer schemes. He mentioned that the debt load hasn't changed in 3 years meaning that he can sustain it just that he needs to start paring down debt gradually.

what did you spend till your bill reached 80k?
OMG must be travelling overseases, fine cuisine

last time i do have few cards. owe money too. i cut it into 1 card. this card for emergency use only.

then pay monthly min payment until settle all the cancelled card.

now owe using 2 cards. 1 is forced by company. but try to settle every month before it burst

another person who spends his money more than he earns, plain silly.

as others have mentioned, convert it into personal loan or borrow from your parent/siblings/friends to settle your credit card debt first.
earning 7k yet dont know how to manage personal finance.

take 2nd job with higher pay than RM7k/mth..then can settle ur debt within 6 months...

uber..........

now most important is to go to ur respective bank and terminate ur card, transfer those amount to loan (interest fix n not running like cc). Try to ask for longer period of instalment. Why now only ask for help?

quickly settle this bro if not u forever burden urself with cc debt.....

u dun have to afraid of anything cause u got nothing to lose liao...