Money Matter

zaZZy · Aug 25th, 2009, 05:48 PM

i have no clue where i should post this thread but i have to aska question regarding money. If you are under let say 15,000 debt how long would it help you pay when you have not much source of income? What are the different ways i can come up with to help pay this off before it becomes larger then life?

is it helpful to contact the debt solution people we often see in the pakistani newspapers? Would it ruin my credit for life?

i need some serious questions these days nothing comes easy, the income you make goes to food, basic needs and of course the expensive rent.. then ocmes out the bills and you have not enough money to pay off the bills!

i need serious help

Mabrook · Aug 26th, 2009, 12:31 AM

zazzy i'll pass u on someone's email. hes a financial advisor . may b he can help. this company does claim to help many ppl under debt. lets see wat they can do for u. just giv me a day or so n i'll pass u his number n email. IA koi na koi raasta nikal aaiy ga.

Arleitter · Aug 26th, 2009, 01:14 AM

Quote:

Originally Posted by zaZZy

i have no clue where i should post this thread but i have to aska question regarding money. If you are under let say 15,000 debt how long would it help you pay when you have not much source of income? What are the different ways i can come up with to help pay this off before it becomes larger then life?

is it helpful to contact the debt solution people we often see in the pakistani newspapers? Would it ruin my credit for life?

i need some serious questions these days nothing comes easy, the income you make goes to food, basic needs and of course the expensive rent.. then ocmes out the bills and you have not enough money to pay off the bills!

i need serious help

Financial crisis is something you need to look upon but never let it affect your mind.Approach it with a cool heart.Why can't you discuss the same with your friends or relatives(though I will not fuly endorse this idea) if no bank is ready to give you loan?Ask them to lend you some money but not on a free terms but on a norminal interest.

Also I may be giving you a weird suggestion but pls wait till the second week of September.I will pm you why.......................You may find it weird but still............................

Little Princess · Aug 26th, 2009, 02:13 AM

I am in a similar situation but never thought of going to any financial adviser.

but then I'm unemployed right now & hopefully once I get a suitable job 1-2 years mai I'l pay off the debt.

zaZZy · Aug 26th, 2009, 10:07 AM

thanks Mabrook ill be waiting the number or email and Arleitter if its going to help me then why not i wont find it werid at all thanks!

lil princess you know thats what we wewre thinking to have nice jobs and it will be paid off but its hard to manage and i dont think it can be paid off easily! but inshallah it might be paid off for both of us somehow!

Xenophanez · Aug 26th, 2009, 10:14 AM

zaZZy I am moving this thread to business & finance section. I hope someone there might be able to give you some advice in this regard.

Little Princess · Aug 26th, 2009, 10:28 PM

Little Princess · Aug 26th, 2009, 10:29 PM

Quote:

lil princess you know thats what we wewre thinking to have nice jobs and it will be paid off but its hard to manage and i dont think it can be paid off easily!

once you get a job things will be back on track I guess. But finding a job where I live is tough & I have had to let go of 2 good job offers after passing the interviews .

Quote:

but inshallah it might be paid off for both of us somehow!

InshaAllah

My debt is larger than yours but without any interest on it so it wont grow any larger.

Aliph Ahmed · Aug 26th, 2009, 11:16 PM

Quote:

Originally Posted by zaZZy

i have no clue where i should post this thread but i have to aska question regarding money. If you are under let say 15,000 debt how long would it help you pay when you have not much source of income? What are the different ways i can come up with to help pay this off before it becomes larger then life?

is it helpful to contact the debt solution people we often see in the pakistani newspapers? Would it ruin my credit for life?

i need some serious questions these days nothing comes easy, the income you make goes to food, basic needs and of course the expensive rent.. then ocmes out the bills and you have not enough money to pay off the bills!

i need serious help

Hmmmm,

Stay away from consolidation debt as it decreases your credit rating. First thing you need to do is to obtain a credit report. Equifax.com charges like $24 bucks but it tells you where your credit rating stand. If you havent missed any payment or havent screwed your credit rating by bringing it less then 650 then:

Look for new credit cards that charge less interest rate.
Try to obtain a credit line if you can. It has almost half the interest rates.
You dont sound like a risk taking dude or I would have advised you to purchase a house and rent it out. It is good business.
You make money with money. You can only beat debt by increasng the revenue instead of decreasing the expenses.
PM me your number if you need help with the renting business. (Only for serious enquiries)

I am an auditor by profession with housing business on the side. I am not a real estate broker before you label me as one.

Good luck.

Little Princess · Aug 27th, 2009, 02:35 AM

Quote:

You dont sound like a risk taking dude or I would have advised you to purchase a house and rent it out. It is good business.

I thought of this aik dafa.But purchase kerne ke liye bhi paisey chahiye & now no more debt without interest & I'm not willing to take any debt with interest.

Aliph Ahmed · Aug 27th, 2009, 11:12 AM

Quote:

Originally Posted by Little Princess

I thought of this aik dafa.But purchase kerne ke liye bhi paisey chahiye & now no more debt without interest & I'm not willing to take any debt with interest.

This is exactly why you couldnt translate your thoughts into action.

There is Islamic financing available these days too.

and there are ways to purchase the house on 0 downpayment. Over invoicing being one of them. Are you at Toronto, Canada ?

Little Princess · Aug 27th, 2009, 05:51 PM

nopes.
I'm in KSA

decent_Felow · Aug 27th, 2009, 05:55 PM

Little princes help him na .. u r the accounting expert here .. in gs

Little Princess · Aug 27th, 2009, 06:22 PM

ye kissney kaha.
mujhey toh sirf thori accounting aati hai.

Aliph Ahmed · Aug 27th, 2009, 07:41 PM

Quote:

Originally Posted by decent_Felow

Little princes help him na .. u r the accounting expert here .. in gs

Help who? Not me you are referring to, I hope. Lol.

---> CA. :$

Quote:

Originally Posted by Little Princess

nopes.
I'm in KSA

Nice place. I lived there for 12 years at Jeddah. Al Hamra area. Red sea compund across Jamjoom Center. Awesome memories.

Which city do you reside at?

Little Princess · Aug 27th, 2009, 07:56 PM

I reside in the Eastern Province.
Dammam/khobar ka naam suna hai?

jeddah is good cause Makkah is closeby.

Aliph Ahmed · Aug 27th, 2009, 08:35 PM

Quote:

Originally Posted by Little Princess

I reside in the Eastern Province.
Dammam/khobar ka naam suna hai?

jeddah is good cause Makkah is closeby.

Yes, third best city I belive.

What do you do for living other than thinking about buying a house but dont because you dont want to pay interest and etc.....

Little Princess · Aug 27th, 2009, 08:49 PM

I'm currently looking for a job.
just graduated this May

little hoon na

2nd bestcity kaunsi hai?

& dont say its riyadh

Aliph Ahmed · Aug 27th, 2009, 10:01 PM

Quote:

Originally Posted by Little Princess

I'm currently looking for a job.
just graduated this May

little hoon na

2nd bestcity kaunsi hai?

& dont say its riyadh

What did you graduate in? Accounting? Lol. Good luck finding a job.

Riyadh is very dry and dusty. I went there thrice. Did not like it at all. Taif is really beautiful though.

The best cities in my opinion based on my experience are as follows: