Debt planning as
essential as breathing air
Authored by: Ajit Panicker
Debt planning is as
important and essential as breathing air.there is a very common trend of using
credit through credit cards and loans availed from banks, but as a layman, an
individual usually tries to revolve credit by paying minimum amount due on it
and keeping the actual principal debt as it is and end up paying around 42%
interest on the total credit outstanding in a year.
The practice which i have usually seen in a lot of young professionals and gradutes who get into new jobs, get into the trap of taking easy credit by getting around 5-6 credit cards and then exhausting the complete credit limit and end up not even paying the minimum amount due after some time.
when the outstanding become unmamangeable and cannnot be paid from regular earnings they take personal loans from banks or private financers and end paying 17-19% interest which as in emi form becomes a liablity for the number of years the loan is taken.
There is where the individual become a debt owner.
please avoid this situation, and we take care of this through debt planning.
Consult a good experienced and well read financial planner.
The practice which i have usually seen in a lot of young professionals and gradutes who get into new jobs, get into the trap of taking easy credit by getting around 5-6 credit cards and then exhausting the complete credit limit and end up not even paying the minimum amount due after some time.
when the outstanding become unmamangeable and cannnot be paid from regular earnings they take personal loans from banks or private financers and end paying 17-19% interest which as in emi form becomes a liablity for the number of years the loan is taken.
There is where the individual become a debt owner.
please avoid this situation, and we take care of this through debt planning.
Consult a good experienced and well read financial planner.
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