Debt Councelling

When there was a post on how credit cards are dangerous for lives, most readers felt the post was quite negative.

No lesser mortal than RBI has woken up to this startling fact of debt trap which people fall into. They have advised and asked banks to setup debut counelling services. Read more of it here

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5 Responses to Debt Councelling

  1. praneshachark says:

    seems good proposition yes you need counselling when you are
    in trap. I know one colleague of mine who has helped many to come
    out of heavy debts by arranging alternate finance and also talking to
    earlier borrowers and getting relief in debts after making a rework with
    reasonable interest.
    plastic money lures people without knowing the consequences people
    will get into trap. you must always committ yourself to the extent you are
    able to repay within reasonable time.

  2. pegasus says:

    wow another way to collect service tax…
    personally i believe credit cards are good for the nation
    the the government, for the merchants, banks, and the consumer…
    but consumer has to be prudent… if he is not then
    “a fool and his money soon part their ways”
    and credit cards only accelerates it.

  3. Praneshachar,
    You were lucky to be bailed out. Realization of this evil is the first step towards controlling this spiral.

    Pegasus,
    Very well said about fools.

  4. praneshachar says:

    mohan
    I was not in tap anytime so far I spoke about a colleague of mine who
    helps the trapped persons by arranging alternative funds and also getting waivar of good amount from earlier lending agency/individual

  5. Praneshachar,
    oops sorry. Wrong understanding.

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