Personal loans/Debt loans

[Snoogans]

<p>I was looking into getting a loan to rid myself of all debts. In total, including the current payoff of my car, my debt sits at about $29,000/ That really isnt that bad since 18,5 of that is the car itself.</p><p>I was wondering if anyone knew a specific type of loan I should look at. Im either gonna go for a loan to pay everything or everything except the car. I dont, however, have any collateral being I dont own anything, and i cant use a car as collateral that i just paid off with the loan.</p><p>Anyone have any ideas what the best options are, i do have a co signer with great credit, so i know i can get a loan.&nbsp;</p>

[Death Metal Moe]

Sell.

[Death Metal Moe]

But seriously, I'd love for someone who knows options Snoogans is asking for to answer too.&nbsp; I am&nbsp; just about out of my deep hole.&nbsp; Curious to see what options I didn't even know were available to me.

[Snoogans]

i know my options kinda. I can try to take out a personal loan, but being i dont have collateral, if i got the loan id get slammed on interest. The best option is to have my parents take a home equity loan for the amount and give it to me and then I just give them the money. That would get me a great rate, but I dont know if i feel comfortable asking my parents to do that. <br />

[Death Metal Moe]

<p>Yea I wouldn't feel comfortable asking my parents to do that either.&nbsp; I mean parents are usually willing to help their kids out of a hole, but what happens if you get unemployed suddenly or on disability.</p><p>It's a risk, and I understand your point of not wanting to put their house in jepoardy.&nbsp; But yea, as young men, we'll get ass raped with interest and no collateral.</p>

[angrymissy]

<p>For a regular personal loan the interest rates are going to be ridiculous.&nbsp; Most likely it will be higher than what you are paying on the car.&nbsp; The only way to get a loan like that with low interest is a home equity loan/ line of credit.</p><p>Citibank does personal loans and so does Beneficial and MBNA.&nbsp; No matter how good the credit or the co signer credit, you will get slammed on the rate strictly because it is a &quot;personal loan&quot;</p>

[angrymissy]

<p>Forgot to mention one other option if you have a good credit co signer:</p><p>Get a 0% interest for a year credit card and put all your debt on that.&nbsp; Pay 0% interest for a year, if it's not paid off by then, transfer to a new 0%, or low APR card.</p>

[Snoogans]

<p>Yea, as soon as you find a CC company that will give a 23 year old guy who is doing this to get out of CC debt a CC with no interest for a year and a 30000 dollar limit, and then find a way to pay that all off in a year, then sure, ill be glad to do that.</p><p>and the personal loan is still cheaper then the car. even if the rate is 4% higher, im paying back just that money. Buying out the car now would costs just under 18G's, where as paying off my car loan in total would come out to in the mid 20's, so the rate wont matter. Factor in that my CC interest rates cant get much higher, it would still save me alot of money in the end.</p><p>However, since I do have great credit, but its very short term, id need my rents to cosign, so I'll prob just go with the home equity thing, assuming they bite. Its cool, it'll knock out my school loans and shit all at once too.&nbsp;</p>

[Justice4all]

<p>Snoogs.....call me and I can help you out with this kind of situation(or point you in the right direction).</p><p>Good luck bro.</p>

[Death Metal Moe]

<strong>Justice4all</strong> wrote:<br /><p>Snoogs.....call me and I can help you out with this kind of situation(or point you in the right direction).</p><p>Good luck bro.</p><p>No, he does not want to be your 'Boy Toy' for $100 a day.</p><p>Perv.</p>

[SatCam]

http://ffmedia.ign.com/filmforce/image/parnell2.jpg
<br /><br /><br /><br />


Wife: (sighs) I just can't get these numbers to add up.

Husband: Like we're never going to get out of this hole.

Wife: Credit card debt, does it ever end?

CP: [walks in] Maybe I can help.

Husband: We sure could use it.

Wife: We've tried debt consolidation companies.

Husband: We've even taken out loans to help make payments.

CP: Well, you're not the only ones. Did you know that millions of Americans live with debt they cannot control? That's why I developed this unique new program for managing your debt. It's called [presents book] "Don't Buy Stuff You Cannot Afford."

Wife: Let me see that... [grabs book, reads] "If you don't have any money, you should not buy anything." Hmm, sounds interesting

Husband: Sounds confusing.

Wife: I don't know honey, this makes a lot of sense. There's a whole section here on how to buy expensive things using money you save.

Husband: Give me that... [grabs book, looks at it] And where would you get this saved money?

CP: I tell you where and how in Chapter 3.

Wife: Ok, so what if I want something but I dont' have any money CP: You don't buy it.

Husband: Well let's say I don't have enough money to buy something. Should I buy it anyways?

CP: No-o-o-o.

Husband: Now I'm really confused!

CP: It's a little confusing at first.

Wife: Well what if you have the money, can you buy something?

CP: Yes.

Wife: Now take the money away. Same story?

CP: Nope. You shouldn't buy stuff when you don't have the money.

Husband: I think I got it. I buy something I want, and then hope that I can pay for it right?

CP: No. You make sure you have money, then you buy it.

Husband: Oh, THEN you buy it. But shouldn't you buy it before you have the money?

CP: No-o-o-o.

Wife: Why not?

CP: It's in the book. It's only one page long. The advice is priceless and the book is free.

Wife: Well, I like the sound of that.

Husband: Yeah, we can put it on our credit card.

CP: [shakes head]

Announcer: So get out of debt now, write for your free copy of "Don't Buy Stuff You Cannot Afford." If you buy now you'll also receive, "Seriously, If You Don't Have the Money, Don't Buy It!" Along with a 12-month subscription to "Stop Buying Stuff Magazine." So order today!