I have several credit cards and personal/housing loans. After expenses, paying MAD for cards and EMI for loans, there is hardly anything to save. Are there options for minimizing my monthly outgo?
I tried for a top-up with my existing PL/HL providers (CitiFin, BajajFin, LICHf), but no success. CC providers also declined my request to convert due amount into PL. I applied for debt consolidation with Fullerton/Standard Chartered, but it got rejected. Gold/Savings/Loan from family/friend is not under options for me.
My Cibil score is 811, but banks are not willing to help me due to current outgo. But the thing is that I don’t want any extra loan, I’ll just close the current loan and cards. Let’s say, I am paying 44K monthly for 8.5 L outstanding. If I get a PL for the same, I can close all PLs and Cards and total EMI would be something around 26K. Why Banks do not understand that if a person can pay 44K per month without any issue, he would be able to pay 26K easily.
I tried contacting DebtDoctor and others, but they are more into debt settlement. Which I obviously do not need/want. I have not missed a single payment till now, I have no intention to miss in future as well.
It’s ridiculous that banks are happy to help who can’t pay loans. Also, banks are happy to help who don’t need loans. But when I am interested in paying full amount and need a bit of assistance – no help is there.
If anybody knows any option/ organization (which is not mentioned in this message), which can help me – Please let me know.