@peyot,
Do U think getting a loan from a 'loan shark' will help U clear ur debts?

@peyot,
I doubt that is going to be possible since U oredi been blacklisted. Also, since Ur clearing off ur debt on a month to month basis, it shouldn't take too long before Ur done with what U owe to the bank.

After which, U just need to wait a couple of months (up to 12 months) before the banks will look into ur record again

Y would U need a home loan/CC facilities/ car loan from the bank? Even if U do decide to buy something now; U might not have sufficient funds to pay for it.

@peyot,
If U can't find the $ to pay off this RM13k, where are U going to find the $ to buy a house? Y don't U pay up this debt and then only look into getting a property. RM13k over 4 years is quite a long time if U asked me.

Instead of getting into more debts, I suggest U clear this one first.

Ask urself (even if the bank allows U the home loan):
1) Do U haf sufficient cash for downpayment of property?
2) Do U haf sufficient income to sustain monthly repayment for:
- home loan
- existing loan (RM13k)
3) Haf U also thought about when interest rates increase? That will affect ur monthly loan payment; assuming you're on a flexi loan.

Do U really want to get urself into a deeper mess than U oredi are?

This post has been edited by tinkerbel: Jul 15 2008, 10:46 AM

@peyot,
If ur income is good enough, Y not pay off the existing RM13k as fast as U can; U might not be able to come up with it within a month but U could alwiz pay it off within 3-6 months

@yks8845,
It could haf come about through CC debts perhaps?

@SKY 1809,
muAHahAHahH Ur absolutely right! I ain't parting with my hard earned $

@SKY 1809,
Got work to do so got to work lah *doh*

@wodenus,
Let's just wait for TS to respond

@peyot,
Of course I understand - perhaps Ur the one who doesn't! And our lives still goes on whether or not U take the loan; we're just concern about U raking up more loans in the process of settling this one.

If ur hoping to get unlisted just so U can secure a home loan, U better think it through to make sure U haf sufficient cash flow to service all ur loans. Do U oredi haf some cash put aside for emergency purposes? What if U lost ur job? How many months reserve (in cash) have U got?

@b00n,
If I'm paid based on total loan amount then who cares whether he can pay or not; as long as it meets min bank requirement I'll approve the loan

If I own the bank, I'll definitely reject his application

Borrow 1k in Jan. Return 5k in June. Wah, that is worst than loan shark!

@peyot,
Don't be too sure I've no influence over certain decisions made with the bankers

So, did U get ur loan oredi?