MRTA

Many of us, when sign the Loan Agreement, the "Licensed Loan Shark" will ask us to buy a MRTA (Mortgage reducing term insurance).

More then often, we switch the loan to other loan account, and the other "licensed loan shark" will ask you to buy another MRTA.

What happen if you got 2 MRTA? Nothing.... you just pay for nothing.... the original "licensed Loan Shark" doesn't benefit from your MRTA and they have no obligation to refund your MRTA.

You have to ASK! you have to search High & Low for the original MRTA copy! and CANCEL IT and ask for refund!

This usually amount to a few Thousands ringgit. You are paying the few thousand ringgit EXTRA! that serve no purpose!

Remember to claim it back!

Brilliant Idea?

I have took up a 200k loan to settle my credit card debts. It's a brilliant idea? or just pull us to greater depth of debts?

Recently, 2 business proposal appears in front of me. actually 3 proposals. Don't know to take it or not.

1. Cyber cafe - the partner is not realiable.

2. Hotel business - payback period is long. let me think about it again.

3. Swiflet farming - I am in. My financial independant depends on this.

All the best to us!