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How to repay a loan faster?

I’m a man with no future planning for my expenditures…I owned a personal loan of $10,000 and now I can’t repay and the company is noticing me continuously. so please help me out with some of the great advices how to repay my loan fastly.

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Answer #1

I hear ya. I’ve been there. Take heart it’s not hopeless. First, and most important, DO NOT DECLARE BANKRUPTCY. You’ll ruin your credit and getting it back is very hard and a long process. That said, take a look at your budget. See if there is any room for cutbacks or trimming. For example, if you go out to eat twice a week, cut back to maybe twice a month. If you pay your own utilities, turn stuff off. Dump the extra things that are not essential right now. Take the money you will save and start paying the loan back. No matter what, pay them something. Usually you can make an alternative arrangement with your creditor and they will work with you as long as you pay something. Be dedicated to this though. I have learned it’s too easy to not pay or make excuses as to why you “need” the money for something else. Another option is taking a second job until you’ve paid the loan back. What ever you make on the second job, use it to pay off the loan. No one wants to work more than they have to but you may need to do it. Good Luck.

Answer #2

Dear praveen_yadav, Most banks/credit companies will take any type of payment. They are bothering you because you perhaps are not paying anything towards your loan. If you have a problem setting a side enough to make them happy out of your paycheck each month then seek out a financial advisor. Most banks will supply such services for free. Sue…good luck

Answer #3

Hope this helps.

http://funadvice.com/r/151piop0h84

Thanks.

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