Need advice on debt

[lovestarrie]

Hi, need some advices on debts currently. Anyone know how does debt councelling works? Am $8K+ total in debts to 4 different legal moneylenders, and earning about $2k/month. It was a mistake from the start, taking up the loan to repay debt, and end up reloaning every month after repaying to pay another company.

Just contacted SmartDebtAsia to help, and going down for the appointment on thursday. But have no idea how it works.

My bto is coming in another 1+ years time and I really want to clear it soon. Its been hard repaying months after months with no reduction in the amount..

 

[airtroopers]

Hi, need some advices on debts currently. Anyone know how does debt councelling works? Am $8K+ total in debts to 4 different legal moneylenders, and earning about $2k/month. It was a mistake from the start, taking up the loan to repay debt, and end up reloaning every month after repaying to pay another company.

Just contacted SmartDebtAsia to help, and going down for the appointment on thursday. But have no idea how it works.

My bto is coming in another 1+ years time and I really want to clear it soon. Its been hard repaying months after months with no reduction in the amount..

Legal money lender debt easy settle one bro..dun go to this kind agency..they will rip u off..just go silver lining , bless coal service they can help you nego payment..slowly pay off with monthly instalment

 

[lovestarrie]

Legal money lender debt easy settle one bro..dun go to this kind agency..they will rip u off..just go silver lining , bless coal service they can help you nego payment..slowly pay off with monthly instalment

Silver Lining will help too? Do not know who to look for and came smartdebtasia, thats why i enquired. Not sure what are the charges like as well..

 

[lovestarrie]

Silver Lining will help too? Do not know who to look for and came smartdebtasia, thats why i enquired. Not sure what are the charges like as well..

*came across*

Initially wanted to check with lml if they can consolidate and do mobthly instalments. But none of them do. So at my wits end.

 

[fr33d0m]

The concept is not to pay them all at once and choose one with the lowest amount and pay the most to it and the rest just pay minimum.

This way, you can clear one by one.

 

[lovestarrie]

The concept is not to pay them all at once and choose one with the lowest amount and pay the most to it and the rest just pay minimum.

This way, you can clear one by one.

The thing is they are not installment loans, they are all payday loan. Put it simply, i pay in full and reloan again to pay another co monthly..

 

[ELKYme]

Hi airtroopers,
Haven’t thanked you for your good recommendation in the other thread.
Really appreciate it!

Aside to TS,
Here’s information on the ones to call:

Silver Lining:

http://www.silverlining.com.sg/who-we-are.html

https://m.facebook.com/pg/LivingSpringFellowship/about/

EMAIL: admin@silverlining.com.sg
TELEPHONE: 6749 0400

Adullam:

http://adullam.org.sg

https://www.straitstimes.com/singapo...ebt-counsellor

call us at +65 9423 8832.

Legal money lender debt easy settle one bro..dun go to this kind agency..they will rip u off..just go silver lining , bless coal service they can help you nego payment..slowly pay off with monthly instalment

 

[fr33d0m]

The thing is they are not installment loans, they are all payday loan. Put it simply, i pay in full and reloan again to pay another co monthly..

Then you have a serious expense problem.

 

[Thoreldan]

Ts when your bto comes, are you going to take another fat loan for renovation ?

Dont think you are able to accumulate any savings during these period as you're busy with loan repayment.

Do spend some time planning on this with your partner.

 

[lovestarrie]

Ts when your bto comes, are you going to take another fat loan for renovation ?

Dont think you are able to accumulate any savings during these period as you're busy with loan repayment.

Do spend some time planning on this with your partner.

The problem now is i dont even know if our hdb loan will be approve... Anyone knows if it will be affected?

I did not let my partner know of this and i came clean ytd, which resulted badly..

 

[havetheveryfun]

The problem now is i dont even know if our hdb loan will be approve... Anyone knows if it will be affected?

I did not let my partner know of this and i came clean ytd, which resulted badly..

means ur partner didnt even know u were in debts earlier ?

yep, better to tell her now and end badly now then later which will definitely be worse. . .

 

[lovestarrie]

means ur partner didnt even know u were in debts earlier ?

yep, better to tell her now and end badly now then later which will definitely be worse. . .

Yeah, alr came clean ytd and it did not resulted well..

 

[havetheveryfun]

Yeah, alr came clean ytd and it did not resulted well..

u are the male party or female party ?

 

[lovestarrie]

u are the male party or female party ?

The female

 

[havetheveryfun]

The female

8k not a lot actually.. ur partner also dont earn much ?

but i think he just angry now la .. after a while shld be ok liao . so don worry too much and follow ELKYme's advice 1st or after ur appointment on thurs then see how...

 

[ELKYme]

Lovestarrie,

Why not use just your hubby’s financials to get the loan? (Omitting yours)

I’m sure there are many other single income families (Wife is a housewife) getting HDB to approve the loan.

The problem now is i dont even know if our hdb loan will be approve... Anyone knows if it will be affected?

I did not let my partner know of this and i came clean ytd, which resulted badly..

 

[ELKYme]

Have you tried calling either to ask if they can help?

Hi airtroopers,
Haven’t thanked you for your good recommendation in the other thread.
Really appreciate it!

Aside to TS,
Here’s information on the ones to call:

Silver Lining:

http://www.silverlining.com.sg/who-we-are.html

https://m.facebook.com/pg/LivingSpringFellowship/about/

EMAIL: admin@silverlining.com.sg
TELEPHONE: 6749 0400

Adullam:

http://adullam.org.sg

https://www.straitstimes.com/singapo...ebt-counsellor

call us at +65 9423 8832.

 

[ELKYme]

Oh dear, payday loans are really scary!
https://youtube/hSx8uCK04Oo

391% interest??? (edited)

No wonder, the exorbitant interest proofed so lucrative that even Cash Converters wants a piece of the action:
http://mobile.abc.net.au/news/2017-02-28/asic-investigation-into-cash-converters-inadequate/8309870

Never take these kinds of loans for any reasons...especially to YOLO!

 

[lovestarrie]

8k not a lot actually.. ur partner also dont earn much ?

but i think he just angry now la .. after a while shld be ok liao . so don worry too much and follow ELKYme's advice 1st or after ur appointment on thurs then see how...

He earns. But just that i dont dare to ask him for help, ive no idea why. I just dont dare to. I just gave Silver Lining a call, and they mentioned they will check and see if theres a slot for me so i can go over later on. Hopefully there is. Sigh.

 

[lovestarrie]

Lovestarrie,

Why not use just your hubby’s financials to get the loan? (Omitting yours)

I’m sure there are many other single income families (Wife is a housewife) getting HDB to approve the loan.

I supposed thats what we can do when they keys collection date is near. As my credit is horrible.