Lost Your Job And Can’t Pay Your Personal Loan
Losing your job can turn a manageable monthly repayment into a serious financial concern. If you’re unable to pay your personal loan, missed EMIs, recovery calls, and the fear of default can add to the stress. But missing a payment does not automatically mean immediate legal action. The important step is to understand your financial […]
Government Has Brought Credit Card Spend Under LRS Ambit
The Central Government has changed the Foreign Exchange Management Act guidelines to include credit card spending outside of India under the Liberalised Remittance Scheme (LRS). As a result, from July 1, such credit card transactions will be subject to a 20% tax collected at source (TCS). The amendment was implemented this week by the Central […]
What Is Financial Wellness, and Why Is It Important?
The basics of Financial wellness guide to the state of a person’s overall financial health. It goes beyond the concept of just having money and focuses on achieving a sense of financial stability, security, and peace of mind. It encompasses different values of personal finance that include saving, budgeting, debt management, investment, and proper planning […]
Why did RBI withdraw the 2000 Rupee note?
Demonetization resulted in the use of Rs 500 and Rs 1,000 notes being prohibited, currency notes of Rs 2,000 were launched in November 2016 under Section 24(1) of The RBI Act, 1934, primarily with the objective of fulfilling the currency requirement of the economy after the legal tender status of Rs 500 and Rs 1000 […]
Loan Applications Getting Banned Mind-Boggling News By Indian Government!
Remember the time when the Indian government banned several Chinese mobile applications, including TikTok and Shein? This ban was implemented in June 2020 amid concerns over data privacy and security. The government stated that these apps were “Prejudical To The Integrity & Sovereignty Of Our Country.” The ban on Chinese applications was part of a […]
Why Is Financial Literacy Important For Children to Learn?
Apprehending financial topics is important for everyone, no matter what caste, creed, or age group you are. Whether it’s managing your home, or handling student loans, the use of this topic helps individuals to take control of financial crisis. Making a stern decision is also very important when it comes to money management. Financial literacy […]
The Importance of Seeking Help When You’re Unable to Pay Your Debt
Pay Your Debt Consumer debt levels have expanded in each class, however, home loan, vehicle, and Mastercard debts were the greatest driver of the general increment. People are forced to take loans, which makes them spend more than they earn. High inflation and financial stress brought on by the pandemic are increasing household debt, particularly […]
What Is Loan Restructuring & How Can It Benefit You
The procedure of loan restructuring might be initiated by extending the loan’s maturity date, with or without modifying the interest rate. The principal payable amount is spread out over an extended payback term in this technique, which relieves borrowers by lowering the EMI load. Another loan restructuring option that can assist a troubled borrower is […]
What does a recovery agent do?
What does a recovery agent do? Recently, many debt collection agencies have harassed people in order to collect on their unpaid debts. As a result, majority of people have been affected by mental illness, and some have even committed suicide due to pressure. What does a recovery agent do? A majority of people receive threatening […]
The dark side of buy now pay later schemes
Buy now pay later schemes is the most instant solution and the coolest way to purchase an essential item, but looking at it closely, it might be a sign of massive interest rates and a debt trap. It is easier than ever to get what you want, when you want it- regardless of how much […]
