Loans

[ChatBox]

Do you like loans? I'm getting $100 or something for my first loan but I am going to regret having to pay them back. :lol:

 

[SettledHate.]

My brother (21 years old) saved money for 5 years and got offered a 300 thousand dollar loan. For saving. 🙂

 

[Justin]

I never have got loans. I don't like them.

 

[ChatBox]

If you have a money tree then you don't have to worry about loans. 😉

 

[SettledHate.]

^ Hmm, yeah, that could work.

 

[PurpleCrow]

I would never advise getting loans or credit cards. They are very bad, or at least can end up that way.

I'm 21 and I have about £10,000 to pay back. One credit card, god knows how many store cards and a £1,000 student loan.

Was fine and dandy while I was working but now I'm not I have red letters coming through the door each day.

 

[Blah.]

I've had one and almost went to court because I didn't pay it.

 

[Kino]

I've never taken a loan before.

 

[Nebulous]

I applied for a loan from my bank. They denied me.
I was only asking for $2000 and they could have automatically deducted the payment from my account, its not like I have a way of running away from my payment.. Well If I switched banks I guess.
Anyways, its not like it was 20,000. :roll:

 

[birdy]

Loans make the world go around, we live in circle of credit - they are sometimes a necessary evil and without them the whole of the world would come to a hault.

 

[Nebulous]

Loans make the world go around, we live in circle of credit - they are sometimes a necessary evil and without them the whole of the world would come to a hault.

Thats one reason why the economy is in the crapper. Too much money being given out and not much being repaid.

 

[ToYz.CoMiX]

If you want to buy a house or a new car, you're probably going to get acquainted with a loan at some point.

Just don't buy a lot of frivolous stuff on credit. Save up for stuff like new TV's. If you really have to, make sure you get a credit card or loan that offers no APR for 18 months or so. Divide the cost of payments by the months you have without APR and see if it's manageable.

Don't let credit hang over your head though. I've seen way too many people let that **** eat them alive.