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01 Aug 2008

Seeking help
Need Advice

I have just bought a house and it cost R266 000.00. I am moving in December 2008, surely the deduction will start month end of December. My bond will be R3200.00 per month for 20 years. I lend R10 000.00 from the savings club, which accumulate interest so I cant afford to pay that before December.

I saw this advert on the newspaper to consolidate your debts, I was thinking of borrowing R350 000.00 with this I am intending to spend it like this: I want to pay my house R266 000.00 cash, pay the social club money R10.000.00 with interest cash, The remaining money I will use it to buy curtains, sofas etc. For this loan that I want to take I will be paying R2600 per month for 20 years but interest rate will affect it. I need your advice will I be making the big mistake of my life. Or will this help to survive becaouse I am earning R7000.00 after didaction.

Thank you for your advices
Answer 346 views

01 Jan 0001

I haven't the faintest idea ! What made you think a psychiatrist was the right guy to ask about this financial issue ?
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