Loans That Tie Us Down

Our lives are surrounded by loans, we need quick cash, huge amount of cash to get a good degree, a car, a home, and just about anything under the sun. My first loan which I undertook under my name would be the dreaded PTPTN student loan in 1999. Ever since then it was loans after loans, all tied to my name.

I sometimes wonder how do I survive with this insane amount of loans. I have 2 housing loans, and one student loan yet to finish. I'm fortunate enough to be able to settle my car loan 3 years ago though.

A quick check on the internet educated me further on easy loans, (eg: Georgia title loan) How does one live beyond their means until these loans are required is actually beyond me, but anyway it's happening out there.

An example of a online loan website
In a nutshell how do auto title loans like these work?

A title loan is meant to be a short term loan; however you can keep the account as long as you need to; provided that you are making your minimum monthly payment on or before your due date.

The finance fee for the transaction is $25.00 for every $100.00 borrowed. For example, if we were to lend you $500.00; the finance fee of this transaction would be $125.00. If you cannot pay the $625.00 in the first 30 days, paying the $125.00 finance fee will extend the loan for another 30 day period. You can do this as long as necessary, provided that you are making your minimum monthly payment on time.

So are you debt free? Or are you like 80% of Malaysian population who is tied down by one or more bank loans? Here's wishing that all of us get a sudden rush of cash to pay off all those loans. The day bank loans no longer have a hold over us would be the day we will be truly free.

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About Isaac Tan
Thank you for reading this post. I hope you enjoyed reading this as much as I enjoyed writing it. My name is Isaac Tan and I cover mostly on lifestyle events with emphasis on happenings in Kuala Lumpur, food reviews, movies, tech and more. Subscribe to my feed and my facebook page. Do follow me on Twitter too at @isaactanjs , contact me via my email at

1 comment :

  1. Hey Isaac! :) As with every middle class family, the husband and I do have times when we do struggle financially and I wish the day would come sooner, rather than later, when we reach financial freedom. I guess being a housewife, we knew it would be harder, but the children are our priority. It's okay if we can't shower them with expensive gifts, or bring them out every single weekend, as long as I'm there to care for them, teach them, nurture them every single day. 

    Just gotta be patient and find other means to make money.. like blogging, for instance.. hahahhaah and for that, thanks for recommending me to Claire! :) I really appreciate that. You are awesome! :) 


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