Comments on: Use cash advances wisely

By: Dan Compton

Dan Compton — Wed, 01 Jul 2009 16:28:41 +0000

Staying disciplined is easy–it’s the world itself that makes the payments hard. Try having two kids in college plus a two year-old in daycare just as this crummy economy hit. They boys’ college fund tanked. So now I’m taking out loans just to get through this next four or five year period.

By: Cindy

Cindy — Wed, 01 Jul 2009 16:14:12 +0000

The reason maybe that some think it is foolish is because people are stretched thin already and maybe cannot make the payments. Or if something goes wrong you might have to declare bankuptcy. But if you’re trying to get ahead in this current market, that is up to the individual to decide.

By: Clark Little

Clark Little — Wed, 01 Jul 2009 16:11:45 +0000

Why is considering taking out a new loan thought of as foolish by financial experts? I thought they wanted us all to keep the economy moving, and for banks to free up more lines of credit. Aren’t interest rates at all-time lows right now?

By: Brian Baker

Brian Baker — Wed, 01 Jul 2009 16:09:39 +0000

I’m considering getting a personal loan to help my son in college this semester. He’s just on the bubble in terms of earning back his qualification for Federal Aid, but in the meantime, he has to keep earning credits. I’m not sure which direction to head for a private loan, though.

By: Branson S

Branson S — Wed, 01 Jul 2009 16:07:15 +0000

Some of us are taking out loans just to keep our houses right now. I’d love to sell it but I’d actually lose money on the deal. So I’m trying to hang on to a house I can’t afford just by taking out loans. I fear I’m headed down a slippery slope!

By: Brandon Baker

Brandon Baker — Wed, 01 Jul 2009 16:05:28 +0000

That all sounds right, of course. But what about taking out a loan to take advantage of this market in terms of buying stock or real estate? I’ve been considering doing this but it would stretch me pretty thin. Just seems like the payoff could be so enormous.