Saturday, October 29, 2011

Helping Hand Required – Loan for a respectable family in trouble

Assalam o Alaikum,

I’ve come to know about a respectable family who are in big financial trouble these days. They had a good business earlier, but due to financial losses, their business is reduced and what remaining is generating very limited monthly income. Out of that, they are paying the Interest/Riba based monthly payments against the loan which they took to increase their business, while the original loan amount remains the same. The family now understand their mistake and is keen to get rid of the interest/riba based loan as soon as possible. Total loan amount is around 4 lacs and they have collected almost 2.75 lacs, they need an interest/riba free loan of 1.25 lacs now. They’ll have to pay a payment of PKR 16,000 every month while the load amount remains as it is.

Can each of us pool some funds so that burden will not be on one or few people and yet we be able to help the family quickly, before the start of the next month?

It’s an URGENT call, and I am sorry about that, but still I thought to give it a try, if we be able to collect and pay the amount of 1.25lac to the family, they will not have to pay for the month of November.

As for the return, family has promised to pay PKR 5,000 per month to me and we’ll then return this amount back to whoever we’ll agree on together. I have no issues to be the last one to get the payment back.

IMPORTANT – Family is eligible for Zakat/Khairat donations

Please connect with me via my cell/email/facebook/twitter to extend helping hand.

Thank you and Jazakumullahu Khair!

~SMH