I think idea is very simple. Take the loan only for the amount which you can repay. Having car, mobile, big house on the loan is never been good idea. Think before taking any loan. Avoid the loan and avoid the recovery agent.
RE:dont spent money if you can not repay
by Global on Jun 13, 2008 11:04 AM Permalink
Pradhy,I pity your ignorance.It's Hindi which most (if not all) people in our country understand.For your convenience though,what he meant was "it's good to preach but the preacher should be competent & well-informed enough to hand-over an advise of this nature".I hope now the point made by him is very clear to you.BTW,I fully agree with him.It's almost impossible to take a house in most cities of India(Mumbai,Bangalore,Delhi,Hyderabad..the list is endless) and one has to go for a loan.The problem is at both ends..the scheming defaulters and inefficient,greedy,immoral banks,who will never take any blame on their part.If you genuinely drop your CC outstanding cheque in a drop-box and the bank loses it,who is responsible for it?The bank will never accept its fault and will rather charge interest on that outstanding.Why can't they devise a mechanism wherein a "drop-box" is replaced by a "collection clerk" who can issue a receipt immediately ? This way the customer has some proof that he actually deposited the cheque.If the cheque bounces afterwards then obviously the customer is to be held guilty but no mechanism can be as one-sided as the one in existence in our country.Kindly spare a thought for genuine,law-abiding,honest customers who suffer without any of their fault,primarily because of the high-handedness of some of these banks;the most notable ones in this category being ICICI,HDFC,HSBC,etc.
RE:dont spent money if you can not repay
by Simple Indian on Jun 13, 2008 04:46 PM Permalink
Hi Global,
I said that take the amount of loan which you can pay for it. Why I would take the loan of per month payment of 15000 INR when my monthly salary is 30000 INR and one your living in big money then try to earn enough amounts so that you can repay the loan. It looks like some one are defaulter and for defaulter, other person giving some opinion is like preaching. Who knows I am belongs to middle class or not but coming our form middle class to upperclass is not big deal. Not everyone is born with silver spoon. Updash tho sab diya karte hai liken jisne aache man se le liya uska hee bhala hota hia my dear. Doing payment by online is also one methods to pay the loan and you get instant approval.
RE:dont spent money if you can not repay
by SRG on Jun 13, 2008 02:55 PM Permalink
If you feel that drop box system is bad, why not use debit card. It is as good as credit card
RE:dont spent money if you can not repay
by SRG on Jun 16, 2008 12:11 PM Permalink
Tejas Shah: I Know the difference between debit and credit card very well. In case you dont know please note that though the credit card as the name suggests is about obtaining credit money, actual credit available is about 21 days to max 51 days (nationalized banks) depending upon billing cycle. If you have money to repay your credit card outstanding in 21 days then you can as well use debit card to avoid hassels of drop box OK.
RE:dont spent money if you can not repay
by Tejas Shah on Jun 15, 2008 12:12 PM Permalink
SRG - debit card n credit card are 2 different things. Though physically they look alike but the debit card is all about using your own money and credit card as the name suggest is all about obtaining credit money.
RE:dont spent money if you can not repay
by Simple Indian on Jun 13, 2008 04:36 PM Permalink
who said that buy the apartment in mumbai and stay in mumbai only. By the way I also from middle class soon I can buy the apartment in UP with taking loan.
So dear as per your ''gyan dena accha hai but aukad me rehke do'' aukat main rah kar hee baat kar raha hoon. I am not preacher like you.
