UnThreaded | Threaded | Whole Thread (21) | Ignore Thread Prev | Next
Author: noname456 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311082  
Subject: Re: Consolidation Loan Date: 1/1/2003 4:19 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
Fred, et al.

I would appreciate a look see on our major debt repayment and see if you all think it can be improved, IOW, paid down faster or in a better way.

We are teachers at an international school. We are on a 12 mo. salary plan. We work from Aug.-June. We pay living expenses in the US in the summer.


Consolidation Loan (D.M.A.) negotiated interest rates for each cc

$88,000 debt
2,200/mo. x 57 mos. (8/00-3/05)

Paid to date 30 mos.

We proved to be one of the 4 out 5 who rebuild debt:

Consolidation Loan from our Provident Fund. Principal continues to accumulate interest (variable at about 5% average)

$75,000 loan ($10,000 into travel & living expenses for summer 03)
2,000/mo x 60 mos. (out of salary check) money is in Thai Baht

Paid to date 3 mos.


Outstanding cc debt
Bank of Asia Visa $5,800 at 8%


Living Expenses:

Housing/ Part of S & B Package = $0000.00
Allowance to DD 240.00
Food, Water,Household 400.00
Personal Thai Charity 500.00


Net Monthly Salary $5,500 x 12 mos. (after 2nd loan is taken out)

All money after 1st debt consolidation is in Thai baht and converted to today's rate of 43 baht to the $.

I guess I want to know if we are digging ourselves into a deeper hole or that we are on the right course as massively painful as it is.
Thanks for input...please be gentle. I bruise easily :)

Happy New Year...all sound fiscal years for everyone.

Thanks very much.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (21) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.