When i read the headlines, i thought there is going to be some good suggestions / ideas, which i can pick it up.
Unfortunately, the answers provided by the author is not correct, for instance the effective interest rates on credit card (in india) you pay is 36% to 42% per annum , whereas a personal loan would cost around 18%-20%. In my opinion, taking a personal loan to square up the credit card dues is better and also i would have asked the person to surrender the card, if not required.
The author seems to thoroughly misguide people with wild suggestions, like selling off home, because of a person caught in debt trouble
what would have been a better suggestion is to restructure the other personal loans or to enter into a homesaver loan like the ones offered by HSBC / SCB, which facilitates in prepayment of your debt obligations.
Will rediff get someone better to write answers for such important questions to common man.
I'm 25 and I'm earning 6LPA, my problem is I do not know in which way I can save the tax. Can you please tell me that in what are all the ways I can minimise my tax pay. I gonna take the car loan. Will it save my tax.
