Debt Consolidation Advice

[swissfun99]

I am currently paying high interest rates for credit cards and wanting to seek help from investors as below; please guide and let me know for any shortcomings, this is a genuine request pleaseee

Loan Sharks please excuse.......

I am making this appeal to help myself consolidate my debts as I am paying huge interest rates for my loans.

I am paying high interest of around 24% on my CC and Overdraft loans, I would like to cutdown interest rates down so my monthly amounts can pay principal amount and I am out of debt soon.

I request generous people out there to help me get out of this situation, I will be grateful to you all my life.

My offer is as follows:
I want to borrow SGD5000 and pay monthly installment of $ 450 for 12months.
So, In summary, after one year you would get 5400.
I agree to pay around 8% interest per annum for the amount I borrow.
I am ready to sign a contract with above terms.

Snapshot:
Loan amount : 5000
Monthly Installment : 450
Principal repaid : 400
Interest :50
Tenor : 12 months
Total amount paid : 5400

Additional inforamation:
I am PR with good job in a MNC with decent salary and still under manageable financial conditions.
I am not ready to pay anyother fees, charges, etc.
I am ok to sign a contract for one year with clear terms as above.
No negotiation on interest rate as that is something I can afford

Any other suggesstions and advice are most welcome

Please send me a mail @ swissfun99@yahoo.com for further discussion.
I can meet in person to discuss.

 

[lzydata]

Haha, nice offer, but for your sake, I think many banks can offer you better effective interest rates (around 5% pa) if you do a balance transfer.

 

[Mecisteus]

My offer is as follows:
I want to borrow SGD5000 and pay monthly installment of $ 450 for 12months.

Additional inforamation:
I am PR with good job in a MNC with decent salary and still under manageable financial conditions.

is your total debt $5,000 or much much more than that?

because if you have a decent salary and cant even pay a $5,000 debt, then something is wrong somewhere.

 

[Dividends Warrior]

Sigh.....credit card debts......

 

[lzydata]

is your total debt $5,000 or much much more than that?

because if you have a decent salary and cant even pay a $5,000 debt, then something is wrong somewhere.

That's a good point. Anyone who has 24% pa credit card debt should treat it as an emergency. Pay it down with as much as you can spare, and more.

 

[Dividends Warrior]

That's a good point. Anyone who has 24% pa credit card debt should treat it as an emergency. Pay it down with as much as you can spare, and more.

It is a scam.

He will scam as many people as possible in 1 month. He may pay the first installment for the 1st month to keep up with appearances......

Then, he will escape with all your money.

The weird thing is, he/she created this account in 2011, but waited till now to execute this scheme......hmmmm.....

Maybe he/she had been planning this operation for 2 years......

 

[Nicvxr]

I am currently paying high interest rates for credit cards and wanting to seek help from investors as below; please guide and let me know for any shortcomings, this is a genuine request pleaseee

Loan Sharks please excuse.......

I am making this appeal to help myself consolidate my debts as I am paying huge interest rates for my loans.

I am paying high interest of around 24% on my CC and Overdraft loans, I would like to cutdown interest rates down so my monthly amounts can pay principal amount and I am out of debt soon.

I request generous people out there to help me get out of this situation, I will be grateful to you all my life.

My offer is as follows:
I want to borrow SGD5000 and pay monthly installment of $ 450 for 12months.
So, In summary, after one year you would get 5400.
I agree to pay around 8% interest per annum for the amount I borrow.
I am ready to sign a contract with above terms.

Snapshot:
Loan amount : 5000
Monthly Installment : 450
Principal repaid : 400
Interest :50
Tenor : 12 months
Total amount paid : 5400

Additional inforamation:
I am PR with good job in a MNC with decent salary and still under manageable financial conditions.
I am not ready to pay anyother fees, charges, etc.
I am ok to sign a contract for one year with clear terms as above.
No negotiation on interest rate as that is something I can afford

Any other suggesstions and advice are most welcome

Please send me a mail @ swissfun99@yahoo.com for further discussion.
I can meet in person to discuss.

If others here are willing to help you, who is gonna help them when they get hauled by police for illegal moneylending? Duh..

 

[Mecisteus]

If others here are willing to help you, who is gonna help them when they get hauled by police for illegal moneylending? Duh..

i dont think its illegal to lend out on a personal basis and if money lending is not your business.

Singapore Police Force

Under the Moneylenders Act 2010 (Revised Edition), Chapter 188, anyone who wishes to operate a moneylending business is required to apply for a Moneylender’s Licence from the Registrar of Moneylenders.

if like that, cannot borrow money from brother, sister, father or mother?

but DW got it right, this is probably a scam.

 

[Nicvxr]

i dont think its illegal to lend out on a personal basis and if money lending is not your business.

Singapore Police Force



if like that, cannot borrow money from brother, sister, father or mother?

but DW got it right, this is probably a scam.

Well, it's not on a personal basis when the loan is at 5%.
That's moneylending.