a loan

kuulani

kuulani

New Member
well i'm doing it. i'm off to the bank after work today to try and get a loan to consolidate all my bills. i'm gonna ask for $10 grand.

9.75% for 60 months

is this good?
 
It depends on wether you have the discipline to not rerun the same charge cards back up into the bad zone. Going from 15-18% on credit cards down to 9.75 is always a good thing. That should net you roughly 100$ a month in reduced damage in the long run. Cut up the cards and become a cash and carry individual.
 
i've already called to cancel all but one of my credit cards. i'm thinking about cancelling that one too and applying for a card through my credit union - 9.9% APR.

those credit card companies are so desperate to keep people from closing their accounts. they blabber on and on to keep your business. :rolleyes:
 
no. Its just taking a personal loan out from a bank and using the $ to pay off the credit cards. The bank gets paid back. Everyone is happy. Noone is stiffed.
 
Dude, if they think I don't know shit about accounting then they won't suspect me. You blew my cover this time! :asshole:
 
** someone knocks at my door **
** the godfather enters the room **

Damn.....i know too much :D :D
 
What's the collateral? Is this just a "signature loan" or did you have to put up your car, house, etc.?
 
This is a great idea!

As unc said, though, just don't let yourself get back into the trap again. :)
 
I had to put my car up for collateral (the only thing i almost own). :D

I got approved though, yippee! And I'm closing all those damn credit accounts and only keeping the one through my credit union. Too much cards equals too much temptation :D
 
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