My mum has 30k PAJAK GADAI debt. Ideas on how to solve it

[untreue]

@juniebug46 You have no idea, how bad your advice is.

 

[davidnunes213]

@charley18 Do you remember the amount of gold she got pajak? And what type (916 or sth else)? If you do, calculate how much is it with today's price rate then compare to the debt.

Honestly, I would just gadai it away. Unless the gold holds sentimental value, then just pay off that one.

 

[charley18]

@davidnunes213 all of it was 916, i will calculate it. thanks!

 

[mattmanticus]

@charley18 if you have 7500 to start, it means you can already take out 1-4. Sell the gold the moment you get it, and it should be able to clear 5-18. Remainder wont take long to finish.

Gold is a terrible investment anyway, no harm selling it and whatever you have left put into your moms EPF/ASNB

 

[tkchapin]

@mattmanticus The above is the one of the smartest way to solve this without adding more debt .

Cash advance through credit card is daily rest interest rate . Both personal loan and credit card interest are high. Don’t get into more debt

 

[charley18]

@tkchapin hence why i was reluctant!

 

[kate1989]

@mattmanticus I would ascertain weight, see if I can sell more than the redemption price. If yes, okay buy back and sell. Otherwise maybe sell the surat pajak is one of the ways too.

 

[charley18]

@kate1989 alright i got it thanks!

 

[charley18]

@mattmanticus good idea. i will discuss with my sister, thanks a lot

 

[jahveh]

@charley18 Ask yourself this first. Surely your mom put that up for pawn for a reason. has the reason been addressed ? Because if not, don't bother with this. The cycle will repeat itself later.

 

[charley18]

@jahveh no its not. she regrets her decision and wants to give us the gold after taking from pawn shop

 

[changeslife]

@charley18 Better to just let the gold go, and keep the money you want to pay for the debt into ASB/ TH/ EPF/ ASN etc.

 

[charley18]

@changeslife hmmm i want to get atleast abit of it back. just to satisfy her heart.

 

[rabbimike]

@charley18 OP i don't understand you, if your mom pajak her golds. The pajak shop will give her money. After 6 or more months, if failed to get the gold back, the pajak shop takes the gold.

What is the problem

 

[trendymom2]

@rabbimike i think OP’s mom want the golds back because of the sentimental value (inherited and what not). So in order to do that, they have to pay the loan. But if OP doesn’t want a headache, just let go of the golds.

 

[rabbimike]

@trendymom2 OP, just use the money to do something better. Gold is gold. Just buy new gold and make it a copy of those old ones.

 

[charley18]

@rabbimike at current market price, my mums gold worth more than what it was pawned for,

 

[jim2011]

@trendymom2 Mom is not getting back any of the gold tho op is splitting it with sister

 

[trendymom2]

@jim2011 Don’t underestimate child obedience my friend

 

[charley18]

@trendymom2 the gold was supposed to be our inheritance,