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| *Ostroff, Fair and Company>>>Credit |
Bank loans? |
I am thinking about taking out a bank loan of 4,000 to pay off all my credit cards off and have one month payment and on interest rate. I have the opinion of 24 or 48 months and I was thinking about the 24 month. I can also double up on payments if I want to. The interest rates are from 11-18%... I know its high...but I am also only 21 and I personally don't have anything Calateral is not an opition. I am wondering if this sounds like a good idea. I have two major visa with high interest rates and then a lot of different store cards. I hate having payments due at different times.. So please help me! If you can get the loan at a better interest rate, pay it off early and not run up your credit cards again? Then this would be the thing to do. The problem is that people are creatures of habit and tend to go out and do the same things over and over expecting the results to change. (Definition of insanity) If you are one of the few that has the will power to not do this? Then go for it. Just be careful. Source(s): Finance Manager for over 7-years. No need to get a loan to pay off the credit cards; just stop charging and pay the credit cards. Pay minimum payments on all except the smallest, then put all money toward the smallest. when that one's paid off, move to the next one. Eventually they will all be paid off and you'll be debt free. Being debt-free with no payments is a great way to live, so stay that way. If you don't have MONEY to buy something, don't buy it. Save up cash until you can pay for something. If you can get the loan at a lower rate and then pay off it will be better for you. Remember always to take loans from reputed banks and not from private lender. To know more you can visit http://www.hstrial-tgeorge1.homestead.co... try this site... http://www.helpgetfunded.com they maybe able to help you get the finances you need... |
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