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

[charley18]

@trendymom2 this is why she wants it back

 

[trendymom2]

@charley18 Let go of the gold is the best course of action.

 

[charley18]

@trendymom2 unfortunately cant

 

[lunamu]

@charley18 You are right, personal loan is a bad idea. You are putting interest on interest.

0% is the only way to go. But realistically, the cash advance idea would probably not work for you. Here's why: 0% cash advance is usually up to 90% of credit limit, and for a 1 year term. So you'll need to be approved for a credit card with close to 30k limit, and pay back close to 2k per month. Otherwise the normal credit card interest applies.

I'm afraid you don't have any other good choices but to let the gold go.

 

[charley18]

@lunamu thanks for the input. i understand your point. 2k is a little too steep

 

[jesuslovespancakes]

@charley18 You said that the gold is too valuable. Is there any way for you to verify the total value of the gold? If you can't, then it's a risk that's not worth taking.

 

[charley18]

@jesuslovespancakes i will get it verified.

 

[mandy18]

@charley18 let go of the gold and let that be a lesson to your mom not to believe in investment scams anymore

 

[charley18]

@mandy18 my grandmum's gold from the 80s are there. my mum pawned it for a lower value.