2006-07-23 13:01:51 · 7 answers · asked by moose 1 in Business & Finance ➔ Personal Finance
So basically what you are saying is you are going to rob Peter to pay Paul.
Credit is not the answer. So many people get caught in the credit trap - just like I did. It was about the time when I had $27K in credit card loans, $40K in auto loans, and another $240K in mortgage - and no money to live and enjoy life on - that I realized I had fell in the credit trap. Don't worry, you are not alone.
There are services out there that can help. Check with CCC (Consumer Credit Counselors). They can help get creditors off your back, consolidate your bills, and work on getting you one monthly payment to pay off your loans.
The way to get ahead is to remember this: credit is for buying assests, and cash is for liabilities. (Assets are anything that actively make you money - like stocks, bonds, Real Estate investing. Liabilities are anythin that lose value upon purchase, require more money than they pay out to maintain, and/or lose value over time - like cars, TV's, poor house choices, computers, clothes, toys, basically anything you can buy off a shelf).
2006-07-23 13:10:41 · answer #1 · answered by Christopher B 6 · 3⤊ 0⤋
Do not get a loan..pay off your debt by paying off a lil more each month..
2006-07-23 20:28:32 · answer #2 · answered by Heather b 3 · 0⤊ 0⤋
Get a loan through prosper.com. You may be able to get one at a lower APR. This might help you consolidate your loans and pay less monthly as well.
2006-07-23 20:03:38 · answer #3 · answered by Meg...Out of Hybernation 6 · 0⤊ 0⤋
$1,000 isn't much to be in debt. Try getting $40,000 in personal debt like me and then you'll start worrying.
2006-07-23 20:18:29 · answer #4 · answered by NOVA50 3 · 0⤊ 0⤋
are you kidding me??? a loan to pay off a loan?? if you are doing this, you are seriously financially ignorant...
2006-07-23 20:06:25 · answer #5 · answered by Dr. Linder 4 · 0⤊ 0⤋
There is some useful advice here.
2006-07-24 02:06:16 · answer #6 · answered by Anonymous · 0⤊ 0⤋
AMERICAN GENERAL
2006-07-23 20:05:34 · answer #7 · answered by Anonymous · 0⤊ 0⤋