My best friend is saddLed with $60k credit cards' debt; how shouLd i heLp..

[Fishypie]

We met earLier today.Seemed Like he have no one to turn to, as most of his reLatives
or buddies have either shunned him or not having the resources to tide him over his request of finding a white knight to take over his debts and paying them @ interest-free instaLLments.
i know where he's coming from.He's currentLy paying a min payment of cLose to $2.2k monthLy for aLL the outstanding charges aLone..and he may never get to see the Light even if he LoyaLLy continues to pay the minimum to year infinity.
Question is, if i pLonk this 60k to cLear his debts; how wouLd i know if he stiLL have the capabiLity to
appLy for the cards' faciLities again, or is there any way to stop the issuers from doing so ?..
He's neither a gambLer nor womaniser, just that his wayward's past of being a big spender have
accumuLated & gotten him to be at this stage as it is today.
WouLd mine's other aLternative suggestion to him to decLare a bankrupt heLp ?..

 

[laksaboy]

Sell his backside.

 

[BuiKia]

When a person's own relative also dun want to help him, this guy is likely to have serious character problem. Help him at your own risk.

Likely that your 60K is burned once you pass it to him. Ask him to sell his asset first.

 

[Fishypie]

You are not heLping at aLL, my friend.

 

[3_M]

I saw one case like this and that fellow kept paying for the interests.

In the end also declared bankrupt. Now discharged and lead a normal life.

Another friend also declared bankrupt, work out a settlement with the banks which required him to pay half the amount owed.

 

[Narong Wongwan]

Big spender on what? Spending is also an addiction like gambling and sex

 

[zeddy]

Bro, you must consider it carefully before you make the plunge to help your friend..

60K is no small amount.. Maybe you'll not see your money again if you still decides to help him out.. Unless of course if you're a millionaire, then by all means go ahead and help your friend..

Ask him to also cough out some amount.. He must play his part in solving his own problem too.. Can't really depend all on you..

 

[Raiders]

Question is, if i pLonk this 60k to cLear his debts; how wouLd i know if he stiLL have the capabiLity to
appLy for the cards' faciLities again, or is there any way to stop the issuers from doing so ?..
He's neither a gambLer nor womaniser, just that his wayward's past of being a big spender have
accumuLated & gotten him to be at this stage as it is today.
WouLd mine's other aLternative suggestion to him to decLare a bankrupt heLp ?..

Bro, I also have 30k credit card debts. Can help me or not? Even though I barely knew you, but I know you are a kind hearted person. Can help?

Please don't ask me sell backside. It feels strange to get poked after poking so many people before.
Please don't ask me to declare bankrupt because my wife will divorce me.

 

[Bigfuck]

Bro, I also have 30k credit card debts. Can help me or not? Even though I barely knew you, but I know you are a kind hearted person. Can help?

Please don't ask me sell backside. It feels strange to get poked after poking so many people before.
Please don't ask me to declare bankrupt because my wife will divorce me.

Why not? There are benefits to being eternally bankrupt.

 

[Narong Wongwan]

If anyone planning to go bankrupt can look for me....
I can help you get some money before going down....all legal of course and commission applies.

 

[congo9]

Declare bankrupt !!! Only way !!!

 

[looneytan]

he can sell his soul to PAP and be like Kinano

 

[Fishypie]

Bro, you must consider it carefully before you make the plunge to help your friend..

60K is no small amount.. Maybe you'll not see your money again if you still decides to help him out.. Unless of course if you're a millionaire, then by all means go ahead and help your friend..

Ask him to also cough out some amount.. He must play his part in solving his own problem too.. Can't really depend all on you..

This chap is a famiLy friend too..and he have committed to paying at Least 1k a month to me, which is about 5 years from now to redeem himseLf.Hence my diLemma.It's either going aLL the way to heLp, or just a simpLe NO..

 

[Fishypie]

The baLL is in my hands now..jiaLat.

 

[shelltox]

We met earLier today.Seemed Like he have no one to turn to, as most of his reLatives
or buddies have either shunned him or not having the resources to tide him over his request of finding a white knight to take over his debts and paying them @ interest-free instaLLments.
i know where he's coming from.He's currentLy paying a min payment of cLose to $2.2k monthLy for aLL the outstanding charges aLone..and he may never get to see the Light even if he LoyaLLy continues to pay the minimum to year infinity.
Question is, if i pLonk this 60k to cLear his debts; how wouLd i know if he stiLL have the capabiLity to
appLy for the cards' faciLities again, or is there any way to stop the issuers from doing so ?..
He's neither a gambLer nor womaniser, just that his wayward's past of being a big spender have
accumuLated & gotten him to be at this stage as it is today.
WouLd mine's other aLternative suggestion to him to decLare a bankrupt heLp ?..

Declare bankrupt. let him learn his lesson. he wouldn't be able to apply for credit facilities. He can then pay off his debts and get his back his credit ratings.

 

[Fishypie]

Declare bankrupt. let him learn his lesson. he wouldn't be able to apply for credit facilities. He can then pay off his debts and get his back his credit ratings.

Perhaps you have missed out on the 'kum-cheng' part of it..

 

[zeddy]

This chap is a famiLy friend too..and he have committed to paying at Least 1k a month to me, which is about 5 years from now to redeem himseLf.Hence my diLemma.It's either going aLL the way to heLp, or just a simpLe NO..

Bro, if you really want to help, then don't have to go all the way to help him.. If you really insists on helping him, then maybe you should just help him with a few K if you have the means.. Don't have to pay off all of his debts..

Sometimes friends can also play out fellow friends no matter how long is your friendship..

Kum cheng or no Kum cheng sometimes money issues can show a person his true colours..

Had a few shares of the pain before back then with this type of CB kia so called friends.. Learnt my lesson well enough.. Better think carefully Bro before making your final decision..

 

[ThugSin]

bro zeddy is right.. kena play out b4 by one army buddy, last heard he went to changi chalet...

 

[Fishypie]

Me have not confirmed anything at aLL.Just being generous about what a good friend can heLp.Thanks Bro zed..

 

[Narong Wongwan]

Some friends can be very steady....borrow ah long even to help out.
End of the day ask yourself if this friend will do the same for you if the roles are reversed.