What if I miss some payment during the plan?
Different payment facility will impose different penalties. Therefore, find out exactly what the implication is and if the payment plan is actually affordable to you.
How do I know that I am deep in debt?
A proper cashflow exercise or check will uncover that you are unable to meet your financial needs. If your expenses including payment to debt facilities exceed 70% of your income,…
What is an alternative to credit card since it is not permissible in Islam?
The best alternative will be to restrict your usage to Debit cards. There are two views from scholars regarding the usage of credit cards but for safe spending habits debit…
How will your debt management plan impact your credit score?
While a Debt Repayment/Management Scheme can help you manage your debts, it is noted on your credit report and can lower your credit score initially. This is due to a…