Aug 7 2007, 12:05 AM
QUOTE(shih @ Aug 6 2007, 11:39 PM)
I dont think you can get the personal loan approved. You should
1. Cut your unnecessary expenses.
2. Try to loan from family or friends with lower interest to clear as much as you can, 1k or 2k will do also. Make sure you can pay back before you loan.
3. Do credit transfer to only 1 credit card and cancel the rest.
4. Learn personal finance/money management. Dont overspend.
A continuation in mathematical form...1. Cut your unnecessary expenses.
2. Try to loan from family or friends with lower interest to clear as much as you can, 1k or 2k will do also. Make sure you can pay back before you loan.
3. Do credit transfer to only 1 credit card and cancel the rest.
4. Learn personal finance/money management. Dont overspend.
Example,
Lets say you have a fix commitment to your credit card which is RM 300.
And your monthly interest charges is RM 250
Means your credit card monthly incremental would be RM 550 (300 + 250).
A person have to settle more than RM550 in order to resolve the credit card debts.
Do you settle more than amount as per stated in the example?
If yes, you are working towards to settle your credit card.
If not, how many loan you take would only increase your debt pressure.
Another thing, work towards to settle 1 credit card at a time and then exterminate the credit card. LOL
Oh yeah...work towards to settle the smallest credit amount first.
Hope this helps.
This post has been edited by arthurlwf: Aug 7 2007, 12:06 AM
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