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You Can Still Enjoy Your Life After Declaring Bankruptcy April 9, 2009

Posted by Vedis in : Bankruptcy , comments closed

Bravo to my buddy who would rather filing for bankruptcy to pay his creditors than running away from his debts!

My buddy says he doesn’t care what bankruptcy can do to his credit scores, the three-digit numbers lenders use to gauge the creditworthiness. Paying back his creditors is what he cares most.

Being a bankrupt is not the end of the world. He can still enjoy good quality life with his family or watch good movies with his buddy’s HDTV.

He is right. Like me, I can still enjoy my life although I am in a debt management program now.

It’s A Free Debt Management Program April 9, 2009

Posted by Vedis in : Debt Management Plan , comments closed

Some are baffled as to why I resorted to a debt management program to pay off my credit card debt?

Why not? It’s a FREE Debt Management Program.

A debt management program is a legitimate way of solving your credit card debt without the need for bankruptcy.

A debt management program is for you if you have credit cards, store cards or debts from home shopping catalogs which you are unable to meet the minimum repayment requirements each month or find that you are paying so much high interest that the debts are not being reduced significantly.

Take Control Of Your Finances March 20, 2008

Posted by Vedis in : Credit Cards , comments closed

If you are struggling to keep up with repayments on a number of different debts, perhaps money owed on store cards, credit cards or a loan you should really take action now to take control of your finances.

On one hand it is very good news that people are looking to consolidate their debts and take control of their finances, however on the other hand it is essential that these people do not fall into the false thinking that because they have consolidated their current debts they can suddenly afford to borrow even more.

December 2007 – $41,875 Credit Card Debts January 5, 2008

Posted by Vedis in : Credit Card Debt Updates , comments closed

My credit card debts on 31 December 2007 was $41,875. So, I didn’t hit my goal of reducing my credit card debts to $40,000.

Anyway, I am happy that I have successfully paid off some of my credit card debts. Remember how much I  had in April 2007 ? $63,809 ! Now, $41,875.

Trust me ! Digging yourself into deep debt hole is as easy as ABC but digging yourself out of the deep hole is very difficult.

Though the progress is slow and hard, it can still be done. What you need is TIME and PERSISTENCE.

My new goal for year 2008 is $9,000 credit card debts. From $63,809 to $41,875 within a span of 8 months, so paying off $32,875 within a year is an achievable goal.

Again ! My goal is $9,000 on 31.12.2008.

What About Debt Consolidation ? May 31, 2007

Posted by Vedis in : Loans , comments closed

Due to the rising costs associated with receiving a quality university education, the number of students who request financial assistance in Malaysia has increased in recent years.

In order to cope with the expenses of tuition, housing, books and other fees, some of my family members and friends who are considered average families have to let their children accept student loans from the government. These loans are usually enough to get them through school, but soon after graduation they have to start paying them back.

After a few years’ working, I am surprised to find that some of them have snowballed a lot of debts like my hubby and me. What are their options ? They resort to debt consolidation to eliminate the university debts.

Loan consolidation can significantly reduce the monthly payment burden as the repayment period can be stretched from 10 years to up to 30 years, depending on the amount of the education debts. The lower payment means they’ll have more money available to meet other household expenses, including credit card debts, car payments, mortgages, and career-related necessities.

However, my advice to them is that they have to thoroughly understand student loan consolidation interest rates and rules first. Always use the loan comparison calculator provided by websites like SecureLoanConsolidation.com to compare the interests and know how much they can save from taking loan consolidation.

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