I got a personal loan to put all my debts into one monthly payment...well i have a spending problem, and racked up my bank visa to 3000.00, plus my other line of credit with ING. I feel ashamed, and i am going to the bank today to see what i can do about it, im wondering if i could re-open the loan, add these other amounts, and close everything i have, except my bank account. Does anyone know anything about this loan crap?
2007-01-05 06:21:24 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
My credit is still really good, thats reason why the bank left my visa open, but my loan is at 23,000, and im looking at having to add another 6000.00 to that
2007-01-05 06:35:25 · update #1
It really depends on your credit. Going and talking to the bank is where you need to start so as to have them look at things.
http://www.too-many-debts.com/
2007-01-05 06:32:33 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Girl, you better get a grip on that spending issue that you have or you're going to wind up "screwing" yourself. Once you get bad credit it's hard as heck to do anything. You can not add the 3,000.00 onto your existing loan unless it is an open line of credit- which you said it was a personal loan. Your personal loan more than likely carries an interest rate of about 10% or more. So, what is your credit card interest? If it's more than 10% then yes, refinance your personal loan and add all of it, but if it's lower, leave it on the card. After you figure out what to do- cut the credit card up until you overcome your spending problem and pay everything off. I can't stress enough to you how important it is to safe guard your credit. You can't do ANYTHING without credit anymore! Good Luck and get yourself under control.
2007-01-05 06:33:21 · answer #2 · answered by surelycoolgirl 5 · 1⤊ 0⤋
You wil not be able to do that the best thing is to go to the bank they will take care of you and let you know your alternatives.
2007-01-05 06:34:14 · answer #3 · answered by TRINA 2 · 0⤊ 1⤋