Why do banks write off bad debt
Why do banks write off bad debt? Did you ever wonder why banks announce that they’re writing off bad debt? In many cases, banks do not prefer to write off bad debt since loans are their primary assets and source of future revenue. However, sometimes, there are loans that are toxic and cannot be repaid […]
E-commerce frauds in India
Over the past few years, the entire world was under lockdown due to the pandemic. Digitalization boomed due to lack of mobility and the restriction imposed by the official authorities on not leaving the house for any reason. It changed the entire mindset, and a new digital world with a rise in e-commerce frauds in […]
Illegal loan lenders are back in the digital frauds
Instant loan providers are thriving in the presence of the digital frauds. They are luring gullible people looking for easy loans by harassing them later, using recovery agents, and sometimes even leading them to experience mental illness or suicide. Let’s have a look at how these sharks bit people in portion by tempting them to […]
Blackmail by loan application is rising in Mumbai
Blackmail by loan application is rising in Mumbai Just in the past few days, many cases of illegal loan apps of harassing people to recover their loans have come to light. The article speaks about a 32-year man residing in Malad, Mumbai who took his life after he was tortured by recovery agents. They shared […]
The Importance of the Financial year in India
As a part of British inheritance in India, we still follow the pattern of considering April – March as the fiscal year. It has been 150 years since India followed the same pattern, whereas other 156 countries considered January-December as the fiscal year. Does India consider April-March as its fiscal year, an advantage over these […]
Phishing Scams, What Does it Mean and How to Prevent it
Phishing Scams, What Does it Mean and How to Prevent it As a democratic country, India is now introducing the concept of the digital world. In past recent years, pandemics have majorly affected many people’s lifestyle as well as the mental health. People started taking loans to meet their needs and adapted to digital payment. But […]
What Is The Best Way To Refinance/Consolidate Credit Card Debt?
A lower annual percentage rate on the new debt than on your credit cards is perfect for debt consolidation. This can lower interest expenses, make your payments easier to manage or reduce the time until repayment. How much debt you have, your credit score and other factors will determine the optimal consolidation strategy. If you […]
Home Loan or Personal Loan? Which One is Right for You?
Loans can help you make purchases, bridge a short-term cash flow gap, or build a long-term asset such as a home. Most financial institutions, including banks, non-banking finance companies (NBFCs), and housing finance companies (HFCs), offer a variety of loans to meet the needs of their customers. Customers can choose between home loan or personal […]
How Can the Snowball Method Help You Pay Off Debt Faster?
Although trying to pay off debt can feel overwhelming, there are methods that can be useful. There are typically two ways you can use to help reduce your debt; each has advantages and disadvantages. Because every person’s debt situation is unique, there is no right or wrong answer when it comes to the best technique. […]
How to remove a suit filed in CIBIL when a loan is closed
Being served with legal papers can be frightening and confusing. Choosing the court where the lawsuit will be heard must be one of your first priorities. You must take measures to get the litigation deleted from CIBIL’s records if it has been filed there. This blog post will cover how to defend your credit score […]
