How to beat the bank - An advice to your woes
Firstly, you have accumulated $100K in debts,
And you have a housing loan to service,
I do not know the outstanding amount,
So I am going to just give you an example,
Your salary is $3,500 monthly,
How much do you think you will need,
Just the bare minimum so that you will allocate,
As much as possible to service your outstanding,
Now you really have to do the immpossible,
To raise more money in a short time,
And allocate most of your future earnings,
With a projected financial plan you can afford,
To try to settle with your major creditor first,
To avoid being blacklisted into bankruptcy,
For your housing loan, you will have slightly more time,
But time is not on your side,
To be able to tell the timeframe of action,
Is an advantage on your side,
As banks and creditors have standard protocol to achieve,
To file a writ against you,
Talk to a financial planner,
Reorganise your finances to acheive your aim,
I am sure he is just as capable as me,
But you need to make sacrifices,
To fight any actions against you,
To find new finances/creditors who will listen,
And reorganise your loans with a plan,
Remember if you are not committed,
To what you have promised,
Not only will your new creditors lose faith in you,
And everyone in the market,
So remember the risks involved,
The disadvantages of default,
But I am sure all creditors will listen,
They will rather collect as much as they can,
Rather than put you up for bankruptcy.
Give me more details,
An I will find a solution,
But remember this lesson and the ills of gambling,
Cause you will never beat the banker(casino).
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