DEBT Resolutions

17/08/2023

*LPO and contract Financing*

🔥🔥🔥 Don't Miss to Supply your LPO coz of finance or perform contract
😋😋 *LPO Finance Requirements:
👁️‍🗨️ A Genuine LPO from a reputable Organisation
👁️‍🗨️Tax compliance
✔️ Having a bank account
✅ Admit the financier as a signatory to your account
✅ No security is required, interest 5% per month
🤝 Overseas source of funds
✉️ Financing upto 70% of the LPO or Contract value, subject to minimum LPO value of 1M and above

07/06/2023

Avoidable Debt collection myths

21/05/2022

My advice:
Please do something with the delayed marking payment once it is paid
* 10 percent church pledges
* Pay your credit card
* Pay your plot arrears
*Increase progressively your share capital in your Sacco (mhasibu)
*Pay school fees arrears
*Pay your car insurance arrears
*Pay your dowry arrears
Please don't use the rebates for:
*Wedding pledges
*Group visits and group trips
*Family get-together pledges
*Rent arrears
* Input deposit to qualify for bank loans
* Tax penalty from late tax return
* Uber driver arrears.

16/02/2022

"Credit is like Looking glass once sullied by breath can be wiped clear again, but once cracked can't be repaired"

11/02/2022

You can read more!

05/01/2022

16/12/2021

Major examples of situations when Debt counseling would help include:
• A job loss or reduction in work hours causes financial problems.
• Your work is steady, but you are still living hand-to-mouth because you cannot create a budget or do not have the discipline to live with one.
• You use Mobile Loans to pay everyday expenses like rent, utilities, food and gas because you don’t have enough cash in your wallet or money in your bank account to pay those expenses immediately.
• Overspending on things like dining out, entertainment and clothing means there is never enough money left over at end of month to put in savings account or emergency fund.

11/12/2021

Reasons why people find it difficult to break the debt cycle

Understand the debt cycle, be the one to break it.
The ‘debt cycle’ is an out-of-control spiral that starts with an expense that is beyond the current budget, combined with ill-management of the available credit line, leads to missed due dates and accumulation of charges, concludes with continual borrowing that leads to increased debt, and eventual default.
When your expense exceeds your income, you go into debt. Goaded by easy access to excess purchasing power, when one overlooks its own limitation and continues in the path of mounting debts, default is inevitable. This attracts various charges including interest compounding on a daily basis. At some point, the interest cost becomes such a substantial monthly expense, that your debt spirals out of hand.

Seek our Debt Counselling Services

08/12/2021

I saw it coming, it's now signed into law

President Uhuru Kenyatta has signed into law the Central Bank Act, 2021 that brings digital lenders under the watch of CBK for the first time.

08/12/2021

I saw it coming!

President Uhuru Kenyatta has signed into law the Central Bank Act, 2021 that brings digital lenders under the watch of CBK for the first time.