|Is the economy facing a debt trap?|
|By Ankit Sharma|
At times when the problem becomes worse, there are wider options available that range from a debt management plan to filing for bankruptcy. A debt management plan is an informal arrangement between you and your creditor as to how much you can pay, and for how long - it usually involves freezing interest as long as you pay back the principal. On the other hand one can file a bankruptcy when all the assets are sold out. Also there are individual voluntary agreements (IVA). These are legally binding agreements between you and your creditor for paying off, only a part of the debt in small installments, over a much longer period of time. IVA providers as well as a debt management company charge a fee for providing their facility.
Such refinancing options would always help a person escape from bad times but it would always shift the problem for the future. Thus there is a need for a formal law to overcome debt problems and save the economy from falling into a trap.
Avoid a debt
It is advisable to prevent oneself from getting into a bad situation. There are some everyday tips that can help one from falling into a debt trap.
- You may be tempted to buy a lot of things with credit cards. Use credit cards sensibly. One of the easiest ways of getting into a debt trap is courtesy a credit card.
- Stay within 30% of your credit limit and try to pay off the entire amount of outstanding dues before the last date. If you carry forward the dues, by just paying the minimum amount you end up paying a lot more in the long run. Banks charge highest interest rates for credit card dues.
- Always think about the incidental costs after you take a decision to buy any expensive item. You may think that buying a car will just involve paying off the loan amount. It comes with lot of other maintenance and fuel charges, which you should be geared up to pay.
- Never pay for daily requirements with credit cards. Once you get addicted, it is very difficult to get out of the credit trap.
- If you are planning to buy a house through a home loan then make sure monthly EMIs don't exceed 40-45% of your take home salary. If you are going for car, or any other loan, your EMIs should not exceed more than 10-15 % of the take home salary.
- Always keep a contingency fund ready by saving a certain amount of your income. You never know when an emergency may arise. Borrowing from the bank or anyone else is not a good idea. With interest rates soaring, it is better to keep away from personal loans.
- If you do not have ready cash to pay for anything, don't accept offers on credit unless you read the fine print of the offers. Many shops offer goods on credit. Make sure you know every detail about the deal.
|(Comments Posted : 38)
||Post Your Comments
||We are direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease, our bank instrument can be engage
In PPP Trading, Discounting, signature project (s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges, Real Estate and all kind of projects. We do not have any broker chain in our offer or get involved in chauffer driven offers.
We deliver with time and precision as sethforth in the agreement. Our terms and Conditions are reasonable. below is our
The procedure is very simple; the instrument will be reserved on Euro clear to be verified by your bank, after verification an arrangement will be made for necessary bank documents and stock testing expenses, the cost of the Bank Guarantee will be paid after the delivery of MT760.
DESCRIPTION OF INSTRUMENTS:
1. Instrument: Bank Guarantee (BG/SBLC) (Appendix A)
2. Total Face Value: Eur 5M MIN and Eur 10B MAX (Ten Billion USD).
3. Issuing Bank: HSBC Bank London, Barclays, Credit Suisse and Deutsche Bank Frankfurt.
4. Age: One Year, One Month
5. Purchasing Price: 32% of Face Value plus 2% commission fees to brokers.
6. Leasing Price: 4% of Face Value plus 2% commission fees to brokers.
7. Delivery: Bank to Bank swift.
8. Payment: MT-103 or MT760
9. Hard Copy: Bonded Courier within 7 banking days.
We are ready to close leasing with any interested client in few banking days, if interested do not hesitate to contact me
Mr John Paul Nowacki
|Mr John Paul Nowacki (Posted: Feb 26, 2018)
||We are project funder as well as financial lender,We have BG/SBLC, specifically for BUY/LEASE at a leasing price value Issuance by HSBC London and other 25 top AA rated Bank in Europe, Middle East or USA. We also secure funding.
Our BG/SBLC Financing can help you get your project funded, loan financing, please let me know if you are interested in any of our services, by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease
providers, this Instrument can be monetized on your behalf for 100% funding.
FOR LEASING OF BG/SBLC
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1 million to 5 Billion+
LEASING FEE = 4%+2%
FOR PURCHASE OF FRESH CUT BG/SBLC
PRICE = 32%+2%
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we
will work together for the benefits of all parties involved.
Contact Email: firstname.lastname@example.org
Mr Eggler Johnson
|Mr Eggler Johnson (Posted: Feb 26, 2018)
||A nevem Mária Ádám, egy egyedülálló szülő, mielőtt a férjem meghalt, annyi adósságot hagyott bennünket, annyira zavaros és frusztrált voltam, hogy fizetném a hatalmas adósságot. Egy nap átkerültem az interneten, és rámutattam (Jörg Stephen) arról, hogy GINA MORGAN segített neki egy kölcsönt. Így 15 000 000 Ft összegű kölcsönt kértem 5 évig a Társaságtól a postán keresztül (email@example.com). Amikor a hitelre jelentkeztem, fogadást tettem Istennek, hogy ha megkapom a kölcsönt, a világ tudta, hogy mit tett velem, legnagyobb meglepetésem szerint kevesebb mint 48 óra alatt a hitelem 2% -os kamatlábbal történt. Most a férjem adósságát rendeztem, és új életet és vállalkozást indítottam. Teljesítette az én fogadalmat. Tehát, ha bármilyen típusú kölcsönt szeretne 2% -ig, kérjük, lépjen kapcsolatba GINA MORGAN HITELKERESKEDELMI KFT. E-mail címével, firstname.lastname@example.org
|Mária Ádám (Posted: Sep 22, 2017)
|Show All Comments||