New with a decision ... could use help!

iVillage Member
Registered: 11-11-2004
New with a decision ... could use help!
5
Tue, 06-10-2008 - 1:48pm

Hi I'm from Ontario, Canada and having a little trouble here.

Lorilori-sig.gif my miracles picture by jelomu

iVillage Member
Registered: 11-17-2007
Tue, 06-10-2008 - 8:17pm

I say do it if it is same interest or lower Make sure it is not variable interest on the line of credit

iVillage Member
Registered: 04-10-2003
Wed, 06-11-2008 - 9:39am

I agree with Mary Ann. You need to first make sure that the LOC isn't variable and won't go


Bex -

iVillage Member
Registered: 11-17-2007
Wed, 06-11-2008 - 10:23am

Bex


Recently on the Suze Orman show she was telling people to convert their student loans to credit cards with cheap interest rates. Because in the USA if you have to go bankrupt you can not charge off your student loans but you can your credit cards.


So things when it comes to debt are changing all over the place. What was a bad thing to do yesterday is a smart thing to do today.


I am so sorry you can take off interest. My God if we didn't have the interest and medical to take off of our personal taxes

iVillage Member
Registered: 03-27-2005
Wed, 06-11-2008 - 1:49pm

I personally don't think it's ever a good idea to exchanged unsecured loan with a secured one.

iVillage Member
Registered: 11-11-2004
Wed, 06-11-2008 - 3:25pm

That's why I was hesitating.

Lorilori-sig.gif my miracles picture by jelomu