Reply to I need about $20k to get us through a layoff-home equity loan?

Forum Index » Money and Finances

Reply to "I need about $20k to get us through a layoff-home equity loan?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]No expenses you can cut? Family to borrow from?

It sounds like you are going to have to see if you can get a loan from your bank or credit union, HELOC, or rack up some credit card debt.[/quote]

Op here. We already cut way back, sold a car, etc. No family to borrow from.

My question is the best way to cover these costs, a personal loan? HELOC? Credit card debt is an option (can get a 0% card), but we can’t pay our mortgage or childcare with a credit card.
[/quote]

I know my credit union (it's a small neighborhood one so no point in giving the name) is advertising personal loans of $10k at 0% interest but only for three months and it shoots up after that. It's being advertised to feds in case of shutdown, but isn't limited to feds.

Don't know how your budget shakes out but you can pay for all food and household with a credit card and my gas, electric, cable/internet, car insurance can be paid with credit card. Make a list of your bills and look at their websites. I always pay with credit cards for the cashback where I can.

I know someone who gets letters from chase where it's a zero percent interest cash advance as long as you pay within six months, but you have to pay some percentage up front. (So you borrow 10k, but you pay 5% or $500 as an upfront fee and then no interest if you pay back on time - but one late payment and you accrue all the interest). She's a realtor and her commissions come in at random times so she uses these as bridge loans and always pays them back before interest accrues. I am not sure if this is open to all, or if she gets these letters because she is a frequent customer.

You really should consider getting a job though, even something like online tutoring where you set your own schedule.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics