Licensed moneylender

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Iwanttobehappy

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Hi all,

I'm in cc debt and their interest rate is killing me. I've been making monthly repayment but only to paying off the interest and some bills I can't pay and I have to pay interest,late charge ,etc. Was thinking of gg to licence money lender and conso my bills and I just only pay one bill to them ? My own fault for borrowing from cards . Everything was still in order until I was retrenched from my previous job which pay me very good and I have no problem paying all the cards . My new pay doesn't allow me to do that ...

Any one can advise here as I tried searching the web but can't find any review from borrowing from them .
 
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Iwanttobehappy

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Thk you ... I can't ask my relatives or frenz for help ... That's y then I thot of licence money lender .. As I was thinking I will be making monthly repayment to them so there shouldn't be any big problem but I am still worried about borrowing from them ... So was thinking to see if anyone got any experience to share ... Really stupid me ...
 
Perisher

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1. this, http://www.tcc.org.sg/loan-type.aspx?m=5&t=3
Flat 6.99% annual loan rate.
2.Pay off debt with the highest interest rate first.
3.Pay more than the minimum payment.
4.Stop splurging. Ration, stay home for 3 weeks, go out for 1 weekend.
5.Talk to your credit card companies, maybe they can come up with a package for you.
6.Move your debt around, take on a loan with lowest interest rate to pay off the higher interest rate card.
7.Sell things you can sell, on carousell and hwz or fb. Make it a point to find things to sell every wkend, even just 1.
8.put your spare$ in ocbc 360.
9.borrow $ from friends and family, your friends won't care about your face, make sure you will die die return them can liao. Next time richer can treat them back.
10.Take on a small part time job, gaving out flyers or what. A few hundreds a month help.
11.have a discipline life, sleep early, wake early, drink water, don't smoke, you cannot fall sick.
12. be positive. this situation is temporary.
13. if u die die wanna have face, tell your friend your got a plan that can return them any percentage that is lower than cc but better than cpf. say like 5% a year. If you are lucky, there will be a 4-5 friend who will be interested to park $1000 with you. Of course, this is a sort of white lie.
14. have a plan, however negative looking it is, it will be better than nothing.

The ideas above are just that, ideas, don't quote me.
 
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archcherub

archcherub

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Perisher said:
1. this, Consolidation Loan & Credit Loan in Singapore | TCC
Flat 6.99% annual loan rate.
2.Pay off debt with the highest interest rate first.
3.Pay more than the minimum payment.
4.Stop splurging. Ration, stay home for 3 weeks, go out for 1 weekend.
5.Talk to your credit card companies, maybe they can come up with a package for you.
6.Move your debt around, take on a loan with lowest interest rate to pay off the higher interest rate card.
7.Sell things you can sell, on carousell and hwz or fb. Make it a point to find things to sell every wkend, even just 1.
8.put your spare$ in ocbc 360.
9.borrow $ from friends and family, your friends won't care about your face, make sure you will die die return them can liao. Next time richer can treat them back.
10.Take on a small part time job, gaving out flyers or what. A few hundreds a month help.
11.have a discipline life, sleep early, wake early, drink water, don't smoke, you cannot fall sick.
12. be positive. this situation is temporary.
13. if u die die wanna have face, tell your friend your got a plan that can return them any percentage that is lower than cc but better than cpf. say like 5% a year. If you are lucky, there will be a 4-5 friend who will be interested to park $1000 with you. Of course, this is a sort of white lie.
14. have a plan, however negative looking it is, it will be better than nothing.

The ideas above are just that, ideas, don't quote me.
Click to expand...

hope TS can get a loan from tcc.

TS, if u can come here and seek help, meaning u still financially aware. good for u.
throw ur face and try to borrow from friends and relatives. but dont spoil their trust.. return asap.

TS i hope its not coz of gambling.. coz if u are a gambler, i am ur father also wont lend u money. :) realy cannot lend money to gambler.

jiayou! it will be a slow but satisfying walk.

How One Woman Paid Off $23,000 Of Debt In 15 Months - Business Insider
 
Perisher

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haha, tell you don't quote me liao... those are just ideas to spark off. I have never been in CC debt, dunno what the situation is really like.

Take my words with pinch of salt.
 
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3 meals eat maggie + Roti = Savers combo

I think from now on really cant splurge, i bet the debt has gotta do with you daily spending.
 
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Am i too late?

Dont ever borrow from licensed money lender hor. You will be in much worse shape than now. Everyone else advice is good.
 
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Iwanttobehappy

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platopus said:
Am i too late?

Dont ever borrow from licensed money lender hor. You will be in much worse shape than now. Everyone else advice is good.
Click to expand...
Actually I called up 1 license lender , I read his profile and he is the asst secretary of the money link thingy . He is counted good , asked me to go tcc and warn me on outside other lender .. My amt is not small and he can't take up ..
 
havetheveryfun

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Iwanttobehappy said:
Actually I called up 1 license lender , I read his profile and he is the asst secretary of the money link thingy . He is counted good , asked me to go tcc and warn me on outside other lender .. My amt is not small and he can't take up ..
Click to expand...

once I was at a coffeeshop and accidentally overheard ppl offering services that could help you to clear outstanding loans, but it comes with a trade off such as having to declare bankruptcy, etc... not sure whether that kind of trade off is worth it or not.. I guess it depends on how much you really owe
 
havetheveryfun

havetheveryfun

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Perisher said:
haha, tell you don't quote me liao... those are just ideas to spark off. I have never been in CC debt, dunno what the situation is really like.

Take my words with pinch of salt.
Click to expand...

just think of CC debt as being in debt from loan sharks.. just that they are "legal" and use other ways of harassment

and u will never want to be in CC debt ever again
 
FlameEvil

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Just curious how much is the amount owed? even outside moneylender also think twice to help u. :s11:
 
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