Financial Advice needed BADLY

[duriz]

on_plus_kiasu:

Btw, duriz, things are still like that. I'm trying to meet up with the credit card company this Saturday to try and work out a solution with them. I'm also meeting up with insurance agent to see if my policy can give a small loan to pay my debts... I think it will take a bit of time before things will get better. But I'm pulling myself together and working towards being debt free. :celebrate:

Good to hear.
Hang in there.
Good luck.
We are here with a \"listening ear\".

[toddles]

on_plus_kiasu:

Btw, duriz, things are still like that. I'm trying to meet up with the credit card company this Saturday to try and work out a solution with them. I'm also meeting up with insurance agent to see if my policy can give a small loan to pay my debts... I think it will take a bit of time before things will get better. But I'm pulling myself together and working towards being debt free. :celebrate:

great to know that you'll pulling yourself together and pressing on!

what's impt in such situations is to do so! not to wallow in it and let things get worse.

Jia YOU! :celebrate:

[verykiasu2010]

on_plus_kiasu:

Thanks all,

I'm touched by all the suggestions and concern. I will definitely try all the above. I have the insurance but I'm not sure if it has the value yet, i think it is less that 10 years old. I will call up the credit card company and try and resolve a solution with them. Need to do it soon though...

We were really doing well until we let the maid go. I don't know if my maid cursed us or something but she left on her own accord. We are really struggling. Its good that I can air this out here and get useful feedback from kiasu parents.
Thanks alot guys. Will update you about my situation, keep on giving me advice if there are other alternatives to solve my financial situation.

:love: :love: :love:

Hi, how is the progress in talking to your credit card issuer ?

Hope things are being worked out !! All the best !

[vighope]

Using your insurance policies to get $$ against their face value is the easiest.


Next thing for you to do is to cut up your credit cards. Trust me, been there (in terms of large loan liabilities) and done that (got out of it with a disciplined approach).

Spend what you have, not what you can borrow.
Only take loans when the investment/business returns are greater than the loan IR. And taking loans to dabble in stocks is the stupidest thing the banks have encouraged us to do because we are all kucing kurau. WE DO NOT control the stock market so we’re just along for the ride. Unless you’re in it for the long term with good companies, stay out of it.

If you want more thoughts about how to get around your situation, I’ll be happy to share my thoughts - storabackup at gmail dot com.

[on_plus_kiasu]

Hi all,


Thanks for the advice and motivation. I am currently doing almost everything that all of you recommend. I am seriously committed to be debt free. So far, I am trying to get a better deal in clearing my debts.
I'm working 2 jobs ( don't tell my boss) to increase my income to pay off my debts. I am trying to get help from my insurance agent to see if i can get at least 6 months off paying the insurance, so i can use that money to pay my debts. I haven't been on a holiday for 1.5 years. I don't want to incur anymore debt and once i get my bonus, i'll use it to settle my girl's school fees for the year so i have one less thing to pay monthly. Things are looking up this rabbit year so I hope it wil stay that way or get even better. Thanks to all of you for the advice, motivation and support. Have a good holiday and Happy Chinese New Year to ALL.


:celebrate:

[verykiasu2010]

on_plus_kiasu:

Hi all,


Thanks for the advice and motivation. I am currently doing almost everything that all of you recommend. I am seriously committed to be debt free. So far, I am trying to get a better deal in clearing my debts.
I'm working 2 jobs ( don't tell my boss) to increase my income to pay off my debts. I am trying to get help from my insurance agent to see if i can get at least 6 months off paying the insurance, so i can use that money to pay my debts. I haven't been on a holiday for 1.5 years. I don't want to incur anymore debt and once i get my bonus, i'll use it to settle my girl's school fees for the year so i have one less thing to pay monthly. Things are looking up this rabbit year so I hope it wil stay that way or get even better. Thanks to all of you for the advice, motivation and support. Have a good holiday and Happy Chinese New Year to ALL.


:celebrate:

It is good to hear that. Keep it up.

Not many of us take holiday every year too....when I started work, never gone on a holiday till quite a few years later. Don't be tempted by all the trappings of life - it only gets you to spend unnecessarily.

Kong Hee Fatt Choy to you !

[titank]

on_plus_kiasu:

Hi all,


Thanks for the advice and motivation. I am currently doing almost everything that all of you recommend. I am seriously committed to be debt free. So far, I am trying to get a better deal in clearing my debts.
I'm working 2 jobs ( don't tell my boss) to increase my income to pay off my debts. I am trying to get help from my insurance agent to see if i can get at least 6 months off paying the insurance, so i can use that money to pay my debts. I haven't been on a holiday for 1.5 years. I don't want to incur anymore debt and once i get my bonus, i'll use it to settle my girl's school fees for the year so i have one less thing to pay monthly. Things are looking up this rabbit year so I hope it wil stay that way or get even better. Thanks to all of you for the advice, motivation and support. Have a good holiday and Happy Chinese New Year to ALL.


:celebrate:

Endure this period & your objectives can be achieve. No holiday for 1.5 years no big deal. Remember 你有钱，天天都是 holiday.

[tech_wizard]

On-Plus,


You are on the right track, keep it up.

PS - You are not alone

TW

on_plus_kiasu:

Hi all,

Thanks for the advice and motivation. I am currently doing almost everything that all of you recommend. I am seriously committed to be debt free. So far, I am trying to get a better deal in clearing my debts.
I'm working 2 jobs ( don't tell my boss) to increase my income to pay off my debts. I am trying to get help from my insurance agent to see if i can get at least 6 months off paying the insurance, so i can use that money to pay my debts. I haven't been on a holiday for 1.5 years. I don't want to incur anymore debt and once i get my bonus, i'll use it to settle my girl's school fees for the year so i have one less thing to pay monthly. Things are looking up this rabbit year so I hope it wil stay that way or get even better. Thanks to all of you for the advice, motivation and support. Have a good holiday and Happy Chinese New Year to ALL.


:celebrate:

[Belle2011]

I need some financial advice on MRTA.

May I ask if this type of insurance can only be bought after the property has TOP?
Dh and I have bought a new condo and took a bank loan. We intend to repay this loan for x years. Is there a type of insurance to cover this period of x years, so that anything happen to the borrower (dh), the bank loan can be settled by the insurer?

[hquek]

Belle2011:

I need some financial advice on MRTA.

May I ask if this type of insurance can only be bought after the property has TOP?
Dh and I have bought a new condo and took a bank loan. We intend to repay this loan for x years. Is there a type of insurance to cover this period of x years, so that anything happen to the borrower (dh), the bank loan can be settled by the insurer?

I took out a home protection plan with an insurer. Basically it covers x amount in event of death. The x amount will reduce over time since loan should be reducing. Not that ex. And I understand that in event of death, the proceeds may be used to pay for any other debts (I completed one home loan sometime back but have another hanging over my head, so kept the plan going).