Opt For Unsecured Loans First ! May 3, 2007
Posted by Vedis in : Loans , 2comments
I have to admit that getting a credit card and loan has been very easy. Even if you don’t apply for a loan, you will be called and congratulated that you have been successfully eligible for a credit card or a loan.
Unbelievable, ya ? It did happen to me two weeks ago. One of the banks called me and told me that my card was upgraded to Gold Card ! Wow… and hey, I had been longing for a Gold card ! Well, I would jump on the chance if it was before my debt elimination program.
” Ms Teh, would you like to activate your account now ? ” asked the officer politely.
I had the impulse of saying ‘ YES ‘ at that moment. However, I found myself saying ,” Let me consider first. I will get back to you if I want to activate it.”
Can you believe it ? I turned down the offer. I am glad that I have done so.But, the story did not end there.
The next day, the officer called again. This time, I was offered an unsecured loan of $2,000 at an interest rate of 9.88 % per annum. I know this is unsecured loan as I have been reading a lot of information on unsecured loans (personal loans). The idea of an unsecured loan is that you can borrow money without the risk of your personal assets being up for repossession should it all go wrong.
It is undeniable fact that many people are trapped with credit card debts and it is my belief that a lot of these people have had bad credit history (like me).People like us are only eligible for bad credit loan: Unsecured loan and Secured loan.
I have had a few unsecured loans as they generally offer lower interest rates. It is pleasing to see that unsecured loans are more accessible nowadays.
It’s true that unsecured loans are the safer option on the market if compared to secured loans.I have been asked if I would consider to consolidate loan. Debt consolidation loan enables us to combine other debts into one monthly payment.
Honestly speaking, this will only be my last resort. No doubt, this kind of loan offers extra money and lower interest rates - but they come with the additional burden of having to secure the loan. You have to link it to your assets , and normally your home ! Should anything go wrong, there goes your home ! Think twice.
For the time being, I will only opt for unsecured loans. Besides, I am cutting down my debts gradually. I am on the right path to debt free life, are you ?
Have you made up your mind to get out of debts ? If so, read more money saving advice daily to keep yourself away from being ignorant.
Student Loan Consolidation April 14, 2007
Posted by Vedis in : Loans , add a commentAttention to borrowers of Arizona student loans and Washington student loans!
- Do you want more money in your pocket every month?
- Do you want to improve your credit rating?
- Do you want to reduce your monthly payment ?
- Do you want to simplify your monthly bill-paying paperwork with one payment a month?
Having lots of debt can seem a bit overwhelming, but it doesn’t have to be! Student loan consolidation can be a very helpful option when trying to eliminate your college debt.
Consolidation can significantly reduce your monthly payment burden. You stretch your repayment period from the standard 10 years to up to 30 years, depending on the amount of your education debts. The lower payment means you’ll have more money available to meet other household expenses, including car payments, childcare, and career-related necessities.
Like any debt, student debt loan consolidation can influence your credit and your future decisions. It is never too late to consolidate student loan and lower your monthly expenses.
