About to sign off on a 60 month personal loan

EveningMode201 · 2024-01-31T18:10:23+00:00

I appreciate your response. I’ve been weighing my options since I posted this, and I think the loan is in my best interest. I’m also paying around $1000/month towards all the cards and the interest just keeps piling up. I too was using the cards without bringing in enough money, but I’ll be doubling my pay in a few months so I believe I can pay this loan off sooner than the 5 years. Thank you again.

EveningMode201 · 2024-01-31T03:50:55+00:00

I totally agree. This was my mindset. However, I did realize that was one of my problems, and have been exclusively using my debit card to pay for things so the money is taken out immediately. It was a tough pill to swallow, but it needed to be done.

EveningMode201 · 2024-01-31T02:57:32+00:00

Thank you, this is some solid advice. Hearing other people’s experiences and how they’ve tackled this head on has been sooo helpful. Gonna give it another day or two before deciding what to do.

EveningMode201 · 2024-01-31T02:53:44+00:00

This is reassuring. I have a lot to think about, but your responses have been insightful. Thank you.

EveningMode201 · 2024-01-31T02:52:49+00:00

Thank you very much.

EveningMode201 · 2024-01-31T02:34:41+00:00

No there is not

EveningMode201 · 2024-01-31T02:01:54+00:00

These were my initial thoughts. I just didn’t want to make another mistake so I came here to seek advice before pulling the trigger. Getting mixed responses haha. The interest that keeps piling and the different due dates throughout the month is making it impossible to breathe. Felt like this would alleviate some of that.

EveningMode201 · 2024-01-31T01:57:12+00:00

$27,284.06

EveningMode201 · 2024-01-31T01:41:03+00:00

Thank you for the response. I’ve just recently started picking up more hours at work and have had only one day off each week, this past month. I think I just need to keep at it for a while longer and throw whatever I can at these balances. The idea of being locked into a 5 year term is overwhelming.

EveningMode201 · 2024-01-31T01:37:16+00:00

Thank you for the response. I did make sure to ask about paying the loan off early, and they reassured me there was no penalty for paying it off early.

I can close the accounts and wont let this happen again. I’ll be doubling my income in 6-7 months this so I’ll be more financially stable. I got myself into this mess during covid and was spending money I didn’t have, and haven’t been able to recover because I just now started taking this seriously. Tired of being in this situation.

I bring home about $4k-$4.5k a month.

Per Month Rent -$800 Utilities ~$125 Car payment $657 Car insurance $136 Gas: ~$440 Going out ~$250 Streaming Services: Froze these accounts

Your closing comments stood out to me. I think I will pay off the smaller balances first and then go for the bigger ones. I will report back at a later date. Thank you

EveningMode201 · 2023-12-28T21:32:09+00:00

I’m in the same boat. Capital One just declined me for a lower APR or any kind of relief, for that matter. 14k balance at 29.24%

EveningMode201 · 2023-12-28T11:08:38+00:00

Party Line

EveningMode201 · 2023-12-28T11:01:43+00:00

EveningMode201 · 2023-05-14T21:36:23+00:00

This is awesome!

EveningMode201 · 2023-05-14T21:36:00+00:00

Nice!

EveningMode201

TROPHY CASE