(Closed) Emotional financial rolller coster.. de-stressing, venting… sorry its long

posted 8 years ago in Emotional
Post # 3
166 posts
Blushing bee
  • Wedding: August 2011

((Hugs)) Sounds like a rough situation to be in, and I know about rough financial situations. At least his dad came up with the money-or at least said he’ll come up with it. I had to come up with $900 for my school tuition after I lost my financial aid and my father refused to pay any portion of it-saying he didn’t have the money (which was b/s since the next week he gave my older sister over that amount) My suggestion? I wouldn’t take out a loan, but that’s because I believe in living a debt-free life especially in the tough times we’re living, I mean you don’t want to be living on borrowed money even if it’s something you’ll pay off. What happens if you put your car up as collateral and wind up defaulting on the loan? You’d loose your car and then, i’m assuming, have no way to get to work so you’d just wind up deeper and deeper into trouble. ((Hugs)) and I hope you have the chance to de-stress soon!

Post # 4
583 posts
Busy bee
  • Wedding: July 2010

That sucks so bad! I feel your frustration!

As far as deciding whether to put the extra money on credit cards or to take a loan on your car, all you have to do is look at the interest rates and take the lower rate. But if the interest rate for the reverse loan on your car isn’t low enough to justify the risk of losing your vehicle, then that tells you to put things on the credit card.

Judging from what you said here, you’ve got a lot of good things going on financially. Fiance will have a job in June, and then you won’t have to worry about his flaky dad and his money that might or might not come through. You’ll be able to pay this off in a year either way. Focus on that to get you through this!

The topic ‘Emotional financial rolller coster.. de-stressing, venting… sorry its long’ is closed to new replies.

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