opening too many credit cards has ruined my finances

[SSV]

Op
Conclusion here is
Only your parents can help you in this matter
No matter what others are saying.
As we don't know your financial status
You should speak to your parents or you can take it as loan from parents which u should and must pay back to them after you settle and start getting income


U will get many advices here or in other places
Trust me best one is telling your parents as u are just 23


Rotation is in no sense a source of income
And people doing that are either students looking to meet their expense like me
Or some others who thinks it's income source while it's not
And should be stopped

And for time being stop using your cards
And focus on job findings
And make sure to spent less time here
Reason I am saying is
There are lots of tempting offer deals and tricks
Which force you directly/indirectly to fall for



Hope it will help you

this post should be marked as Solution ...

 

[HumorSimpson]

i was good at rotating money until past two months

This is exactly what CCs makes one to hallucinate.
Every prey thinks its a predator until it falls prey to the hunter.

 

[HumorSimpson]

Ek engineering graduate ki takat tum kya jaano Ramesh Babu!

takat or dehaat ?

 

[RAMESH BABU N]

Speaking from various experiences in my life.
I had lost more than 50L and several years of my valuable life just from helping others , not realising these fundamental facts at that time.. ie. the change has to come from whithin the person invloved...

Apaatra daanam and apaatra saayam.

Help by going out of your way only those who had been duped, looted or scammed due to their low intelligence or by sheer ignorance.

Not those who did it wantedly n with all their energies focussed on doing such things.

In this case, he is not even willing to go to parents and share. What has he got to lose ? Pseudo-prestige n aham. This faulty approach will not help him in his future - before parents, guru and God.

No parents would disown their kids. Specially, if they are in some trouble. They will certainly do something.

It is better than this chap going around various banks and begging for alms.

 

[SSV]

Op
Conclusion here is
Only your parents can help you in this matter
No matter what others are saying.
As we don't know your financial status
You should speak to your parents or you can take it as loan from parents which u should and must pay back to them after you settle and start getting income


U will get many advices here or in other places
Trust me best one is telling your parents as u are just 23


Rotation is in no sense a source of income
And people doing that are either students looking to meet their expense like me
Or some others who thinks it's income source while it's not
And should be stopped

And for time being stop using your cards
And focus on job findings
And make sure to spent less time here
Reason I am saying is
There are lots of tempting offer deals and tricks
Which force you directly/indirectly to fall for



Hope it will help you

this post should be marked as Solution ...

Apaatra daanam and apaatra saayam.

Help by going out of your way only those who had been duped, looted or scammed due to their low intelligence or by sheer ignorance.

Not those who did it wantedly n with all their energies focussed on doing such things.

In this case, he is not even willing to go to parents and share. What has he got to lose ? Pseudo-prestige n aham. This faulty approach will not help him in his future - before parents, guru and God.

No parents would disown their kids. Specially, if they are in some trouble. They will certainly do something.

It is better than this chap going around various banks and begging for alms.

Judgment delivered ...by two judge bench.. Case Closed.... move on to next case please !!

 

[HumorSimpson]

Judgment delivered ...by two judge bench.. Case Closed.... move on to next case please !!

 

[finforgo]

My 2 cents for you
It's not credit cards but it's you who has ruined your finances. Get responsible. Reach out to family and friends, take their help and clear dues. Rotating is not a solution, it's a debt trap. Get disciplined with finances and don't touch another CC unless you have a stable income.

 

[Pradumya]

Op
Conclusion here is
Only your parents can help you in this matter
No matter what others are saying.
As we don't know your financial status
You should speak to your parents or you can take it as loan from parents which u should and must pay back to them after you settle and start getting income


U will get many advices here or in other places
Trust me best one is telling your parents as u are just 23


Rotation is in no sense a source of income
And people doing that are either students looking to meet their expense like me
Or some others who thinks it's income source while it's not
And should be stopped

And for time being stop using your cards
And focus on job findings
And make sure to spent less time here
Reason I am saying is
There are lots of tempting offer deals and tricks
Which force you directly/indirectly to fall for



Hope it will help you

Also if none of these options are feasible then personal loan could be considered as well.
Lesser interest rate than that of CC.

Baaki Doraemon bhaiya ne cover kar hi diya hai...

 

[HumorSimpson]

Also if none of these options are feasible then personal loan could be considered as well.

Paying credit by another credit, is what has put him into this situation.
The only solution is to come clean and take help of his parents.

 

[paxauquabriba-4876]

11 LAKH cc LIMITs - NO INCOME ?

What the hell is happening ?

How could this happen without his parents knowing about this ? Strange to see this happen.

lehman brothers mess coming soon to india
now its cc but soon banks will donate housing loans to anyone that has adhar

 

[SSV]

han at which point and which transaction can be said that lead to this mess up

Going on vacation and conveniently forgetting the bill payments

 

[varun__goel_]

@random1229 how much money do you have RN?

 

[random1229]

10k

@random1229 how much money do you have RN?

i have like 10k

 

[dealminer]

OP mentioned:
"im anyways moving to germany this year for my masters. cant i jus move without clearing anything"

@RAMESH BABU N
Sir pls share your thought on this? I guess he got no idea there. Let your experience speak for it.

 

[varun__goel_]

OP mentioned:
"im anyways moving to germany this year for my masters. cant i jus move without clearing anything"

@RAMESH BABU N
Sir pls share your thought on this? I guess he got no idea there. Let your experience speak for it.

Banks will get the contact details of his parents and friends and start harassing them

 

[Pradumya]

Paying credit by another credit, is what has put him into this situation.
The only solution is to come clean and take help of his parents.

Agreed that option is best. But if that's not feasible due to financial issues then I suggested personal loan. Much less intrest rate than CC.

10k

i have like 10k

 

[RAMESH BABU N]

OP mentioned:
"im anyways moving to germany this year for my masters. cant i jus move without clearing anything"

@RAMESH BABU N
Sir pls share your thought on this? I guess he got no idea there. Let your experience speak for it.

I know cases where such defaulters went abroad for studies n topk up some job... Banks write to our Indian Embassies and catch hold of such guys. Two chaps have lost their job n were evicted to return.
Avoidable nuisance for parents...
Black spots on career n in GoI books, besides those Bank books.
All this for what ?
Just 4 lakhs (in this case) ?
Is it worth it?

 

[dealminer]

Just 4 lakhs (in this case) ?
Is it worth it?

Eventually he had to pay what he owe to the banks. And till that time interest would sweep his and his parents savings.

@random1229 look at the outcome there 👆
It's ugly

 

[SSV]

I know cases where such defaulters went abroad for studies n topk up some job... Banks write to our Indian Embassies and catch hold of such guys. Two chaps have lost their job n were evicted to return.
Avoidable nuisance for parents...
Black spots on career n in GoI books, besides those Bank books.
All this for what ?
Just 4 lakhs (in this case) ?
Is it worth it?

I hope they can do the same in case of Mallya ,Nirav..etc...
That would be equivalent to several thousands times to these two cases

 

[RAMESH BABU N]

And,
Unlike PSU banks, private banks employ 3rd party collection agents who use all types of methods - decent n indecent, legal n illegal, polite n intimidating - with not only the defaulter - but often extends to other family members, close relatives n friends.

This chap needs to be corrected.