debt consolidation, i need your help PLEASE

How did you get into 100k debt without a bond? What have you been buying?
 
Mike Hoxbig said:
How did you get into 100k debt without a bond? What have you been buying?
Click to expand...

its really a long story and I rather not get into it if you dont mind. I dont wanna focus on the problem, but rather focus my energy on finding a viable solution
 
add holidays and lavish fine dining for a period of about 2 years

please, im not here to be flamed, otherwise Im just gonna log off
 
R100K is not that bad.
Sell your car and get a cheaper car. Your entire lifestyle will need to change.
 
50CentShort said:
its really a long story and I rather not get into it if you dont mind. I dont wanna focus on the problem, but rather focus my energy on finding a viable solution
Click to expand...
We're not going to flame you, but if you don't fix the cause then it might happen again. Using debt to pay off debt just keeps you in debt. Keep in mind that personal loans often have much higher interest rates than home or vehicle loans, and even though it might be more convenient to just pay off a single debt it could still end up costing you more.

The best advice was already mentioned earlier. Focus on paying off the debt with the highest interest rate first by paying more than you should, while meeting the minimum required payments on the others. Keep doing this until everything is settled. You will have to cut back drastically on your lifestyle for the next x amount of years, depending on how much you earn.
 
i have made contact with all four major banks, to see what they can offer me.

ABSA
Nedbank
Standard Bank
FNB

Lets see what they come back with.....
 
50CentShort said:
i have made contact with all four major banks, to see what they can offer me.

ABSA
Nedbank
Standard Bank
FNB

Lets see what they come back with.....
Click to expand...

Good luck with that. Make sure that its a reasonable interest rate.
I still think that doing it on your own is the best option.

Some time in the far future should you wish to purchase a home, car, etc most application forms have a section where you need to let them know whether you have been rehabilitated, this could cause that application to be declined.
 
Kewl..Good luck...Keep us posted..I am sure there are thousands in your predicament!

50CentShort said:
i have made contact with all four major banks, to see what they can offer me.

ABSA
Nedbank
Standard Bank
FNB

Lets see what they come back with.....
Click to expand...
 
Good luck buddy. I really hope things work out for you.
Maybe try moonlighting and use the extra cash to start paying off your debt.
Once you have settled your debt, please cut up those credit cards.
 
Well Seems that SA is spending 78 cents for every rand earned on debt payments. Ouch. My solution to the debt problem is to spend less
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X