L
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If you can get lower rates and lower payments, then absolutely. |
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bagpuss
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Not always the best idea - depends how controlled you can be with the cards etc after you pay them off.
Be careful who you borrow from - some charge realllllyyyy high fine if you settle early (mad I know)....
xx
T |
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dawnya a
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As long as you are sure that you are going to get the money from the sell of the house. That could take awhile. Just be sure you can make the payments until then or else you are putting yourself in a bigger hole. |
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Sharon M
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Before you do this, ask yourself these questions: will the loan cost me less interest than the other debts? Will I not incur any other debt while I'm paying off these loans? Can I afford the payments? If the house doesn't sell or doesn't sell for what you expect, can you still afford the loan? If the answer to these questions is yes, then absolutely. |
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filmwatcher59
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Don't they all say you will be paying less in the short term, but that your payments will go one for longer? Do some calculations. Ask your CAB to check what you've decided. |
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Ree_x
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you should consider all the pros and cons to getting a loan such as the fact that the housing market is not very good at the moment and some houses are taking months to sell, how short term the loan is going to be and how much the rate is on it. You should also think how many people you could make smile at christmas and whether you would get benefit out of this. I think you know whether it is a good idea or not after doing this. |
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Pascal
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Go for it, treat yourself |
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trevor
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If you are definately owed money that you are sure of getting, a short term loan is a good idea to give you peace of mind and to enable you to enjoy Christmas.
If you have a bank account ask the bank first - their loans, in my experience, are usually cheaper and more flexible. |
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god knows and sees else Yahoo
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As an objective person, figure out all the pros and cons first. Interest rates, what if the ex does NOT give you the money you are expecting.
Second, I and you do not deserve anything, we have to earn it, dont forget with this loan you just get MORE into debt.
Really think about the pros and cons first............ |
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?
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no it is not. |
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RT 66
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If you can meet the payments, consolidating debts can be a good idea. However, if your bills are way out there and you can't handle the consolidated payment amount, you may want to contact your creditors and work out payment plans that will make it possible for you to live, not just survive on a thread. |
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iongaku07
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If you have lots of debt, consolidation may save you time and money. Depending on your financial situation, there may be a solution that's right for you.
When you're struggling with lots of debt, debt consolidation may be an attractive solution. This term refers to combining your debts into one, and making one monthly payment to one creditor instead of making multiple payments to many creditors. You might even get out of debt faster and save money along the way. Debt consolidation comes in several forms, including credit counseling, balance transfers, and debt consolidation loans, so review your options carefully before making a decision. |
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Lord drydreamer of that ilk
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It is never a good idea to get a loan to pay of debts |
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.......
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Only if the interest rate is lower and the payment helps. It is sooo much better to just start barrelling your lowest debt until it's paid off then put that money into the next one and so on. |
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