Thursday, June 22, 2006

Got debt problem? Go to Bank Indonesia

Bank Indonesia (BI) is to limit credit card subscription, reported Kontan weekly.

A deputy governor of BI received a letter from an ordinary citizen. The latter told the former that he was in debt problem. He couldn't pay up his credit card bills. He got eight credit cards, all overdue.

And Bank Indonesia has a brilliant solution. It will issue a regulation to limit one's credit card subscription. No one can have more than two credit cards.

My goodness.

I'm thinking of writing a letter to the Deputy Governor like this:
Dear Deputy Governor:
I am poor. Every day I eat at warteg. 1 Because I'm so poor, I usually eat and pay later when I have enough money. Some wartegs allow me to do that as long as I return the money with an extra penny or two. Recently, situation is getting worse. I lost my job. I have debt to pay to eight wartegs. But I need to eat, no?

And I'm imagining this brilliant solution: No one is allowed to be customer of more than two wartegs.

1 Warteg is street vendor selling inexpensive food.


treespotter said...

i agree with the solution tho. i don't think we should be allowed to have credit cards in the first place. No credit cards. especially not extra additional cards for girlfriends to fool around with.

we should all go back to food rationing.

maybe even shoes rationing then we can do away with all girlfriends.

maybe also estee lauder vouchers.

Aco said...

mmmh, voucher. liked it.

dHani said...

treespotter: why don't you proposed for the closing of banking and monetary system too? the last time i've heard, money was the root of evil... or was it girlfriends? i forgot...
but you were cruel to do shoes rationing... so cruel i cannot stand... really, i don't wanna know you at all

aco: since when you like vouchers? especially estee lauder ones?? you changed your makeup brand?

random walker said...

daeng, it's not the first (and certainly not the last) time we would hear such argument from BI.

Poly Muthumbi said...

Some credit card problems are as a result of failing to have more information before going for a credit card. You only realize later that your credit card carries very high interest rates and also carries other hidden fees like expensive annual usage fees that were not reflected before you considered settling for a certain credit card company.

Consumer goods like cars, television, computers etc are meant to depreciate in value and credit cards should not be used to purchase them. This is because when you decide to sell them in future they will actually be bought at a lower price. It is good to use cash to buy these assets to avoid any credit card debt problems that could be avoided. It would be a good idea to have a debt because you are trying to settle for a home or you are trying to settle some education. A house will safe you a lot of stress of having to pay rent every month and education may as well give the beneficially a very nice and important job that will definitely compensate for what he/she used the money for.

Poly Muthumbi is a Web Administrator and Has Been Researching and Reporting on Debt for Years. For More Information on Credit Card Debt Problems, Visit H Site at CREDIT CARD DEBT PROBLEMS