The loan place said that I can take out an insurance policy that is 10% of the loan...That way if I get sick and can't work it will help pay the bill for up to 6 months...have you ever heard of this before....help I really need the loan..and don't know if this is true...thanks...
2007-10-04 09:24:43 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
how much may oyou klook into get ing a 0 inter3st credirt card instead, collsateral say you have a [priceless collectio nn of chochskis
2007-10-04 09:30:55 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I work at a Credit Union and we also provide this type of insurance on loans which ends up being a less that $10 a month. I would suggest looking at your financial situation right now...if you would get sick or hurt and couldn't work for a couple months would you have enough money to pay all your bills plus the loan. It only takes a few months of being behind on a loan for your collateral to get repossessed. Do you have a family? Could they take care of the loan for you?
It all depends on your situation, but just remember that no one thinks they will get sick enough to not work, but it happens everyday.
2007-10-04 18:35:52 · answer #2 · answered by Kristin 3 · 0⤊ 0⤋
yes there is isurance like that but the odds of you getting sick so bad that you will be out of work that long is very slim and is a wast of money
2007-10-04 16:33:29 · answer #3 · answered by glenn_montgomery88 3 · 0⤊ 0⤋
SCAM.
This is what is called an "Advance Fee Scam". You are probably dealing with someone sitting in an internet cafe in West Africa. If you pay the fee, they will dissappear.
2007-10-04 16:32:12 · answer #4 · answered by Wayne Z 7 · 0⤊ 1⤋