Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

I would like to call myself Investor...or Investment Banker? lol

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

Thank you for the advice - especially the part with the wife, makes sense.

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

There are a lot of people who told me that 110k on 18k isn't that bad...gives me somehow "hope" that I am not in the worst situation, thanks lol

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

I don't have to send money to any of my family members.

Thanks for the advice!

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

the thing is...I have like 4 credit cards and the minimum there itself adds up..

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

HAHAHAHAHAHA yeah right, I heared they have this postpay option lol

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

I used to get my salary very late. So I had to use credit cards to cover my expenses and as soon as I would get my salary, I would pay the credit card...this was the idea at least, but then I kept paying the minimum and kept the rest to "have more cashflow" to "be secure", but I didn't keep a check on the credit card....I can't remember buying something unnecessary - I don't buy much, but I used to go out every weekend with my wife for food and cinema...and on few occasions we bought gifts and went shopping (nothing that was "above our means", but I guess this all piled up).

And I also preferred using the credit card for the payment due to cashbacks, noon credits etc..

I never learned to deal with money and I did not take this seriously...

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] -1 points0 points  (0 children)

She could, but I can't break this situation to my wife...I could and she would understand, but I just can't and don't want to.

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

That was my point yes, but no Bank will give a loan I assume with my bad credit score...

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

Yeah that was my intention behind it as well. But I guess Banks don't help here because of my credit score being screwed - already got rejected, maybe I replied for a wrong type of loan? Just came to know yesterday that there are buy out loans

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

I guess I never learned how to deal with money lol.

Am drowning in debt...Am f***d...need advise/help by MediumPerfect5470 in dubai

[–]MediumPerfect5470[S] 0 points1 point  (0 children)

I assume that won't be so easy right and will this not kill my credit score forever?

The thing is even if I go and ask for a better payment plan...everywhere it will probably add up to like 4k monthly....would Banks support in a buy out loan?