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

[Narong Wongwan]

Learn from CSJ. Tell the credit card company. Pay 3K to return 60K debt can or not?

Can. Bankrupt first.

 

[Talking Donkey]

was very successful in my career and also very soft hearted or kindhearted towards people or charity whatever you want to call it.
everytime whether its a relatives or friends wanting to borrow $$$$$$ from me with incredible sob story that seriously melt my heart,
giving me post dated cheques or asking for my account number saying they will repay monthly...believe me i lend them the $$$$$$ with a cheerful heart afterall what are friends and realtives for right...
as days and months goes by..alamak..the cheques continue to bounce and the monthly repayment stop!
two gentelman did pay up,a few i write off and the rest very chow kuan...till now i feel it is worst than being raped..phobia liao.:*:

 

[GOD IS MY DOG]

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 ?..

bankruptcy best lah...............it's a no brainer really..........

 

[GOD IS MY DOG]

was very successful in my career and also very soft hearted or kindhearted towards people or charity whatever you want to call it.
everytime whether its a relatives or friends wanting to borrow $$$$$$ from me with incredible sob story that seriously melt my heart,
giving me post dated cheques or asking for my account number saying they will repay monthly...believe me i lend them the $$$$$$ with a cheerful heart afterall what are friends and realtives for right...
as days and months goes by..alamak..the cheques continue to bounce and the monthly repayment stop!
two gentelman did pay up,a few i write off and the rest very chow kuan...till now i feel it is worst than being raped..phobia liao.:*:

eh..........i also like you leh.............only lend to very close friends next time..........

 

[Asura]

Try your best to help him out mentally, anything more than this you deem fit.

 

[wuqi256]

I would think its best for him to contact CCS:

www.ccs.org.sg/

Let them and him work out a plan together with the banks and if really not, at least negotiate down the amount to be paid out or to have an installment plan.

That way, he commits to it and if you really have to loan him money, it may well be lesser as well as cuts down on your risk overall. You have a good heart, wishing you and him all the best.

If i am in your shoes though, i would help what i can and consider the money lent a write off and a bonus if he repays.

 

[wuqi256]

was very successful in my career and also very soft hearted or kindhearted towards people or charity whatever you want to call it.
everytime whether its a relatives or friends wanting to borrow $$$$$$ from me with incredible sob story that seriously melt my heart,
giving me post dated cheques or asking for my account number saying they will repay monthly...believe me i lend them the $$$$$$ with a cheerful heart afterall what are friends and realtives for right...
as days and months goes by..alamak..the cheques continue to bounce and the monthly repayment stop!
two gentelman did pay up,a few i write off and the rest very chow kuan...till now i feel it is worst than being raped..phobia liao.:*:

I am glad that there are still good people like you in this (sometimes too cynical and cruel for its own good) world as well as the 2 gents who did repaid you.

Having being played out by people for sums as paltry as 700 RM, i know the feeling. Worse is that its not really about the money but rather the friendship you thought you had. Only lend money you can afford to forget and when you lend, do not expect to see it back. Even relatives did that for a mere 250 SGD so nothing new, just write off.

 

[Asura]

as days and months goes by..alamak..the cheques continue to bounce and the monthly repayment stop!
two gentelman did pay up,a few i write off and the rest very chow kuan...till now i feel it is worst than being raped..phobia liao.:*:

Bro I understand how you feel, we share the same sentiment.

 

[Mdm Tang]

.


tomolo 26/9 go buy 4d S$20 small


on 8787 .

 

[zhihau]

tomolo 26/9 go buy 4d S$20 small on 8787.

huat ah!!! :p:p:p

 

[Raiders]

.


tomolo 26/9 go buy 4d S$20 small

on 8787 .

If strike, I bring you go cruise

 

[zhihau]

If strike, I bring you go cruise

bro,
keep your woman company better lah :p:p:p

 

[Charlie99]

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 ?..

If he is in Canada, I would suggest one of the following alternatives: file a consumer proposal (say, offer to pay $300 to $500 a month for a maximum of 60 months), file an assignment in bankruptcy.
But, although I do not know the legislation and process in Singapore, perhaps, you may conduct a little research on the above matters, as well as consider credit counselling (I recall there was one or two individuals from SG who came for some training or familiarization, with the Credit Counselling Service of Toronto, about 5 or 6 years ago) which try to negotiate with the creditors to waive the interest charges in consideration of the debtor making monthly payments (probably no maximum term).

 

[Raiders]

bro,
keep your woman company better lah :p:p:p

You saw my signature? Thats what Im going to do

 

[singveld]

We met earLier today.Seemed Like he have no one to turn to, as most of his reLatives

i guarantee you , he will not be your best friend after you lend him the money.

 

[Narong Wongwan]

i guarantee you , he will not be your best friend after you lend him the money.

Still best friends....until time for the first installment of repayment

 

[nato33]

Read this from a poster many years ago that goes something like this .....

"You want money, I no lend, you get angry
I lend money, you no pay, I get angry
Better you get angry"

 

[laksaboy]

Ask your friend which does he prefer most: army (land), navy (sea) or air force (sky)?

Army: Jump onto MRT tracks.

Navy: Jump into Bedok Reservoir.

Air Force: Jump from MBS sky garden.

 

[Mdm Tang]

.


can also try asking Ven Ionzu

 

[Cruxx]

eh..........i also like you leh.............only lend to very close friends next time..........

Don't lend money. Give it away instead. No hope for repayment, no disappointment.