Jump to content

Borrowed money to pay off credit cards

Recommended Posts

  • 1 year later...
Guest Mark Wilson

Personal installment loan will be your safest option if you have accrued considerable debt or when you really need to create a big investment. Personal loan are pretty straight forward, convenient and also you won’t have to cite grounds for the borrowing.  Personal installment loan will also be foreseeable and simple to handle since you pay in small installments.

Edited by BV80
Removed unauthorized link
Link to comment
Share on other sites

The answer to whether I would do this or not would depend greatly on the contracts for each entity I am dealing with.  If I have a credit card with a very good arbitration agreement and they were not known to be aggressive with arbitration (like Discover or AmEx), then I would not want to replace those debts with a loan that may not have as good of a contract attached to it.

On the other hand, if I had cards without arbitration and could get a loan that did include an arbitration provision, I could see using such loan to pay off those cards.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.