Of Facebook Relatives and mobile numbers…

So when one has free time, s/he starts marking Uncles, Aunts, Cousins on Facebook. Set up the relationships. Not bad till one starts receiving calls for a certain relation from collection agencies.

The social network boom has got almost every person hooked on it. And Bank and Credit card defaulters better beware. Collection agencies have now started tapping Facebook to find the elusive persons or have started contacting the relatives for recovery.

Now how do they contact the relatives? Simple thru their mobile numbers which have been posted on the profiles!!!

Read a few newspaper articles about such incidences. Got to know of one such incidence yesterday thru a cousin. Infact read one article in the newspaper in which a Collection agency agent befriended an elusive defaulter on Facebook, arranged for a meet, where he found that the real intention was to recover his dues.

Ones intention of setting up relations is not bad, but cant certainly get you in trouble if your relative is that elusive defaulter…….

But yes…posting of mobile numbers should certainly be thought of again!!!

Sources :

http://www.dnaindia.com/mumbai/report_that-sexy-facebooker-is-a-recovery-agent_1478225

http://www.ndtv.com/article/cities/recovery-agents-harass-defaulters-kin-on-facebook-134654

http://www.goanewsonline.com/index.php?option=com_content&task=view&id=6830

Cost of owning a car

Technorati Tags: Car,EMI,Loan,expenses,fuel

Got a mail stating that my Car Insurance is expiring soon. Made me once again realize how fast a year flies. Also reminded me of the words of a Gentleman who has been a guide to our family since years.

Once we both had purchased our cars around the same period, if I remember correctly this was around 12 years back. We were both discussing our respective cars when his words of wisdom started flowing in.

According to him, the best way to purchase a car is on installments, for according to him, where else will you get a loan at such a low rate of interest and also benefit in your taxes. However he had a word of caution over there. While getting the loan is easy, one should also have other factors in mind. According to him, in two to three years, you need to change your car battery, then depending on your usage change the tyres, annual expense of maintaining and servicing the car, normal expenses over wear and tear of the car, annual premium of Insurance, the worst case scenario of major accidental expense on the car, and last but not the least….the fuel expenses.

He said one should average these all costs over five years of usage of the car and add the amount to the EMI to understand if one is making the right choice while going in for the loan or no. The car should not become a white elephant for you.

Well buying a car is the easiest thing ever today….but do calculate the actual Cost of Owning the Car……