YAH!!! Finally some good money news!

iVillage Member
Registered: 11-13-2003
YAH!!! Finally some good money news!
5
Mon, 11-14-2005 - 8:18pm
We have been getting trampled by some stupid debt on those high interest cards that my dh insists on using. I swear I am going to rip them up lol. He always promises to pay them off, and of course, we never have extra cash to do so, and they sit there with a growing balance at about 29% interest. Anyways, I was talking to our bank today, and got a loan from them to pay it all off and consolidate it all. Thier interest is only at just over 7% so that will make a HUGE difference in what we will pay every month. The amount we will be paying the bank is like a quarter of what we've been paying the cards on just the interest alone. I am sooo relieved. I just hope I can control myself from buying a new entertainment unit for the living room lol!

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iVillage Member
Registered: 04-22-2003
Mon, 11-14-2005 - 8:27pm
That's great! I want to consolidate too but we would have to use home equity & we want to move in a couple of years. We need the equity to be our down payment
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Lilypie Baby Ticker
Lilypie Baby Ticker
iVillage Member
Registered: 11-13-2003
Mon, 11-14-2005 - 8:31pm
we had to do that as well. I am a little leary of it, but this is the bank that we have our martgage with, so if something happens...well they already own the house lol. They said if we sell, we have to pay a small fee on the loan, but it works out to be a small amount so I dont care. I just want once to be able to pay a bill, and actually pay off the principle, not just the stupid interest kwim? I have gone through the house and collected a bunch of cards. I will raid dh's wallet when he gets home, and I am getting rid of these annoying things lol.

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iVillage Member
Registered: 01-06-2004
Mon, 11-14-2005 - 8:31pm
That is great news.
The one thing you can do is take that extra money you have and still use it on the crads, you will pay it off faster if you pay more then the expected amount each month.

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Lilypie Baby Ticker


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iVillage Member
Registered: 09-21-2004
Mon, 11-14-2005 - 10:57pm

That IS great news! I would completely throw those cards away.


Traci

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iVillage Member
Registered: 04-08-2005
Tue, 11-15-2005 - 1:51am

WOOHOO Lesley! That is good news. Can you breathe a little better?

Olivia

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