I acquired 2 Credit cards, at ang utang ko na tig P5,000 per card, ballooned for about P45,000 in 2 years, na parang hindi nababawasan dahil minimum lang binabayaran ko every month with interest, lumaki pa hanggang P80,000.
It took me another 2 years before I could finally pay up all my maxed out credit cards. It took me two years I’ve reached bottom low before I wisened up. At talagang makawala dito at instead ay mag-acquire na lang ng assets or investments!
I was able to build my emergency fund, and is now investing on insurances and stocks.
Meron din akong kaibigan na with just a tiny amount as start at hindi nababayaran, lumaki ng hanggang P300,000! Unbelievable! The power of compounding effect on the negative side of debt! Plus she always was getting harrassed of getting calls after calls from collection agency, then letters and even subpoena.
Noong nasa Dubai ako, katulad ko maraming stuck paying piles of loan after loan. Ang hirap dahil kahit you wanna get out of your job, location or situation, it seems na nakatali ka sa utang ng napakatagal.
Ngunit alam mo ba na once one entered into a loan agreement, one commits himself to payments over a period of time, hence presuming that nothing untoward will happen such as loss employment and other unexpected expenses, which no one can ever tell.
According to Bible at Prov. 27:1
Sternly warns us not to boast of the future for no one knows what tomorrow may bring.
I do have a friend, na napakaganda ng trabaho sa isang malaking firm for 10 long years, his salary have multiplied during those years 8 times!
Ngunit, alam naman natin na kapag lumalaki ang income, mas lumalaki din ang expenses at spending. Hindi ibig sabihin na yumayaman ka.
So he got more credit cards, got house and car loans. But the most unfortunate thing happened, and he got laid- off! Natanggal siya sa trabaho, at nahirapan makahanap ng ganun kalaking salary na iniwanan niya sa ibang kumpanya! Ngayon ay na re-possess ang kanyang bahay, at hindi na mabayaran ang kotse. He now had to live below his usual lifestyle. Very sad story.
Wag mawalan ng pag-asa. Kaya mong makaahon! One step at a time.
1. First, what you need to do is to cut up and cancel your credit cards, otherwise you may be tempted to continue using your cards and further increase your debt load. Pwede naman ang isang major credit card na minimum lang at only for emergency nababayaran ang complete balance agad.
2. Second, discipline to pay double than what you're paying on your credit cards every month para madaling matapos, and really simpify your expenses and shopping habits.
3. Worst comes to worst and you have maxed out, at nag- balloon na ang utang sa banko, at ang collection agencies threatening and chasing you, at parang hindi mo na talaga mabayaran? Don't be depressed, as long as you are firm in paying your debt at ayaw mong takbuhan. May hope pa. You may send a promissory letter or make a compromise with the the bank to lessen the interest.
At hindi napipilitan sa laki ng interest! I have tried it myself and have lessened the debt interest for almost more than 80%! Hanggang sa nabayaran ko, dahil wala silang magagawa compared sa hindi mo na mabayaran at all hindi ba?
We want to get out of debt, dahil hindi ito ang plan ni God sa atin. But to be loyal to him and give back to him through tithes, and as a help for those poor.
According to Bible at Proverbs 21:5
The plans of the diligent lead surely to advantage,
But everyone who is hasty comes surely to poverty.
Kung gusto mo ng advice or tulong we can talk, depende sa current situation mo, laki at tagal ng utang. Message me here, or Email me with your contact # at 0915 6736645.
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