Mainly I need to consolidate and pay off my credit cards. I keep getting letters, I owe IRS, and I have no savings account.
I was a approved for a personal loan, for a decent amount of money. Its wont pay off all my current debt, but it will help with a lot of my little bits of debts here and there, and mostly the IRS.
But I'm kind of scared to get into a loan. Its 4 years only $140 a month and I can pay off early. Is it a good idea?
People that get into debt usually have no idea how to handle finances. I would think getting an extra job would be better than a loan. The IRS does charge a large amount of interest but you need to simply work out a plan with them and don't miss a payment. 29% is a ridiculous amount of interest and I suggest you don't take that loan. Figure out how to live on less and pay more on your debt. It's the price you pay for spending more than you earn.
You don't mention the APR. You don't mention the APR on your current loans.
If the APR on this loan is lower, that's better.
But don't use this as an excuse to charge your cards back up again.
Keep in mind, that you will still owe the money, all you did was trade who you owe it to. This will only work if you make NO new debt. The loan is not free money.
Yes, and I'm sure the interest is much less than your credit cards. Just make SURE that you don't take on new credit card debt after getting the loan and paying the credit cards off.
29% !!!!!!!! Your cc rates are lower than that (or else you are in DEEP doo-doo). You do not "need" to consolidate your cc debt (unless the total of the minimum payments is honestly more than you can handle).
I would NOT take that deal.
better than owing the IRS money - they can garnish your wages, freeze your bank accts, put a lien on real estate if you don;t pay
http://is.gd/loansmaster
