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  • Case Study (15%) Personal Debt Restructuring: Bankrupt-Since-2013

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    SHOBANA96
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    A 30-year old individual with significant personal debt seeks advice on restructuring their obligations. They have 4 credit cards totaling $15,000 with interest rates from 20-29% as well as a $10,000 personal loan at 12%. The advisor recommends paying off debts in order from highest to lowest interest rate to reduce total interest costs, starting with the two highest interest credit cards at 29% and 25%. Developing a budget and paying more than the minimums each month will help repayment times and costs.

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    Case Study

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    A 30-year old individual with significant personal debt seeks advice on restructuring their obligations. They have 4 credit cards totaling $15,000 with interest rates from 20-29% as well as a $10,000 personal loan at 12%. The advisor recommends paying off debts in order from highest to lowest interest rate to reduce total interest costs, starting with the two highest interest credit cards at 29% and 25%. Developing a budget and paying more than the minimums each month will help repayment times and costs.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    11 views2 pages

    Case Study (15%) Personal Debt Restructuring: Bankrupt-Since-2013

    Uploaded by

    SHOBANA96
    A 30-year old individual with significant personal debt seeks advice on restructuring their obligations. They have 4 credit cards totaling $15,000 with interest rates from 20-29% as well as a $10,000 personal loan at 12%. The advisor recommends paying off debts in order from highest to lowest interest rate to reduce total interest costs, starting with the two highest interest credit cards at 29% and 25%. Developing a budget and paying more than the minimums each month will help repayment times and costs.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Case Study (15%)

    Personal Debt Restructuring

    https://www.thestar.com.my/news/nation/2018/08/15/almost-65k-malaysian-youth-declared-
    bankrupt-since-2013/

    https://www.thestar.com.my/opinion/letters/2018/08/24/bankruptcy-among-the-young-a-serious-
    concern/
     Find one case where you advise him or her to restructure his or her debt obligations
     Write up a brief introduction about the case – how many credit cards , loans obligation etc
     Prepare a table detailing out which debt to sette off first and which one should be the last
     You can suggest either a snowball method or a higher rate method or both
     https://www.youtube.com/watch?v=O3FRc9USz8g
     Sample of a case study

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