I do have alot of bills to pay.
2007-01-23 01:08:32 · 12 answers · asked by Baby 2 in Business & Finance ➔ Personal Finance
Keep enough to pay the first three payments. Pay off some bills. Go to Morgan Stanley and invest the rest in a Foreign stock mutual fund. This will pay you at least 20% at year's end. At that time, use the 20% to pay on more bills, and then pay off as much of the loan as you can. Good luck!
2007-01-23 01:14:12 · answer #1 · answered by nunnayo b 2 · 0⤊ 3⤋
Well you just answered your own question. If you choose to take the loan then you are going to have to repay much more then the amount of money that you got. I would look at it long term. Can you make the payments that you have to now? Would you actually come out ahead if you took the loan, paid off all of the other items and still had to pay back the loan. Just try to look at everything before you take the loan. Cheers
2007-01-23 09:13:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Don't be an idiot! This has got to be a huge scam. No one just SENDS a freakin $5000 check. If you read the fine print you are probably promising your soul as repayment. Do touch it. If you have bills to pay, you don't pay them by taking on more debt. Take out a second job, work overtime, sell things on ebay, cut back on your own consumption and get out of this debt before it causes you to do something stupid in desperation or before you pay thousands in unnecessary interest payments for borrowing someone elses money!
2007-01-23 09:15:09 · answer #3 · answered by CSUflyer 3 · 1⤊ 0⤋
first check if its one of those ads painted to look like a check by banks or credit card companies.
If its a real check i suggest u repay immediately. borrowing money with high interest to repay bills is adding fuel to the fire and in fact defeats the purpose of settling the bills. I suggest you look for a line of credit or a short term loan with low interest rates. You can get loans with interest rates of 1-3% per annum these days but those are long term loans. look for a reputable bank offering a promotion for a line of credit. sometimes they may offer u 6 months interest free! the best part is there is no fixed repayment period so ure not saddled with it for a long time. :)
2007-01-23 09:16:48 · answer #4 · answered by Whore_of_Babylon 2 · 0⤊ 0⤋
Its not a loan it is a voucher--rip it up. Chances are these systers know you have bills and they are opportunists. Just pay a little on
your bills each month, the companies cannot take action on you unless you are paying "0"
don't be suckered in, they love to a job on people.
2007-01-23 09:27:57 · answer #5 · answered by THA 5 · 0⤊ 0⤋
if it has a high interest rate, STAY AWAY! in the long run you will end up paying 3-4 times that.. also, if you make the minimum payment every month, you will only pay about $1-$2 on the principle and the rest to interest.. slowly your monthly payment will increase because your principle amount will increase...
2007-01-23 09:13:28 · answer #6 · answered by luvtheMarines! 2 · 0⤊ 0⤋
I searched all over the net and came upon tons of spam. However this site helped for us: loandirectory.info-
RE I received a check in the mail for a $5000 loan. What should I do? It has a high interest rate.?
I do have alot of bills to pay.
2014-09-04 22:13:45 · answer #7 · answered by ? 1 · 0⤊ 0⤋
First, did you ask for this money? Second, can you afford to pay the monthly payments on this potential loan? If you answer "No" to either of these two questions then I strongly suggest you either destroy the cheque or send it back to the sender asap.
2007-01-23 09:13:28 · answer #8 · answered by dragondave187 4 · 1⤊ 0⤋
Tear it up. You would just have another bill to pay.
2007-01-23 09:12:29 · answer #9 · answered by Floyd B 5 · 0⤊ 0⤋
Shred it up if you are going to throw it away.
As for accepting it or not is up to you.
High interest rate would make me pass on it.
2007-01-23 09:13:15 · answer #10 · answered by Havana Brown 5 · 0⤊ 0⤋