Professional Documents
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Personal Loan For Joining
Personal Loan For Joining
CREDIT MANAGEMENT
BM1195D
INDIVIDUAL ASSIGNMENT
ISSUES ON CREDIT MANAGEMENT
PERSONAL LOAN FOR MLM
PREPARED FOR,
PREPARED BY,
Not to Forget to making an Investment, for example if she have RM1000 left for every month
saving, try to cut it half for invest to any others bank for example Tabung haji, CIMB Bank or
using gold investment but the best way is ASB, save at least 30% of the salary in the bank to
increase the total of money every month. Plus, She also can use the money to start another
part time job for business for example selling foods, or item that could give profit to her and
use it in investment. For example if she have RM1000, if she could buy the raw material to
that cost RM45 to sell it at office or home and get profit for example RM80, she can increase
the monthly saving, getting profit and invest it to investment bank and get another return. Cut
1/3 of the total profit every 3 month for paying back the loan.
Its good that she makes a loan at 3 different banks, put an authority to pay the loan to the
highest interest rate first, the higher the total, the higher the interest, make a proper
calculation to which bank that she need to pay more than the others. At least put a target
from which banks that she needed to be settled first. For Example, if she have RM1200 to
settle the debt every month, put RM800 to the loan bank that offer higher interest rate and
make a target to settle debt within 6 years than the other bank. It could ease the process for
making another business with the bank if we settled down their debt.
Another step, she can ask for guidance from AKPK or Department of Insolvency for further
help and counselling how to manage the debt. Other than that he can seek from others fund
for example like zakat (Al-Gharimin), Baitulmal, Tabung Dana Ehsan, and any other NGO
that can help people to settled down their debt.
Reference;
http://www.iiumc.com/gara-gara-mlm-siswazah-ini-muflis-di-usia-muda/