Summary of my experience:
3. I must make sure that I NOTE DOWN the date of any installment that should be paid in my schedule. And I must pay ON TIME for all the installment.
Sometimes, we tend to forget on which date we must pay for our installment. Sometimes, we are just to buzy to spend a little bit of time to pay. Sometimes, we think it's alright to pay late. I'm still paying, right? So, what's wrong? Well, there's nothing wrong about it until you want to apply for a new loan. If you are the boss, would you consider to approve one's loan if he/she doesn't pay on time for most of the time? Would you have the fear that one day he/she might not able to pay back for you if he/she don't plan their spending habit properly?
4. I must NOT be a GUARANTOR to X (anybody) unless I have prepare that sum of money in case if X does not have the ability to pay anymore or RUNAWAY!
Please refer to my previous post of the consequences of being a guarantor: "I want to buy...Could you please help me..."
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