Should I get a personal loan or HELOC to pay off my debts?
Dakine808 asked:
I have about 7k in credit card debt. I also need some extra money for the property tax coming up by the end of the year. Would a personal loan be better than a HELOC?
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I have about 7k in credit card debt. I also need some extra money for the property tax coming up by the end of the year. Would a personal loan be better than a HELOC?
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Tags: Extra Money, Heloc, Personal Loan
March 4th, 2009 at 9:33 am
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You need to save more and spend less thats the way to get out of debt Bud.
March 4th, 2009 at 1:37 pm
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Robbing Peter to pay Paul is not the answer. Reduce your spending, make a budget, stick to it and save money. Get a part time second job if you have to.
March 5th, 2009 at 6:15 am
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I believe that the personal loan will have a much higher interest rate than your equity line would. Call your bank & get the rates for each & then decide
March 6th, 2009 at 2:39 am
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There are not too many companys willing to give you a personal loan for this amount. If you get a Heloc you can write off the interest. My choice is a HELOC …..
March 9th, 2009 at 11:27 am
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Sometimes it makes sense to do a HELOC, sometimes it doesn’t. Look at the whole picture and figure out which one makes most sense for you right now…I have a little experience with this stuff. If you have too much debt, you may not qualify for a note loan…kindof a catch 22, eh. if your credit is good, do a fixed rate 2nd instead of a heloc.
March 12th, 2009 at 2:31 pm
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hmm, let me see if the NHBS Team I gotten assistance from just months ago can help you with that, you might want to vsit them
hope all be well soon
have a super day=)
March 14th, 2009 at 10:04 pm
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it won’t matter, as personal loans have high interest rates
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