nasanews Posted September 1, 2017 Share Posted September 1, 2017 Let us say you own somebody 50K and pay him minim 20% monthly. Well there is a better loan percentage which is 4% on 200K. Which one should you pick? Link to comment Share on other sites More sharing options...
swissie Posted September 2, 2017 Share Posted September 2, 2017 Your GF wants you to pay off her neighborhood loan shark and increse the debt-level to 200'000 Bht ending up on her Bank-Account. Run Forrest, run. Link to comment Share on other sites More sharing options...
nasanews Posted September 2, 2017 Author Share Posted September 2, 2017 Why should I run, the world has been running on interest and debt, and still going on! So instead of paying 10K per month over a 50K loan is not as bad as paying 2K over 100K loan. Link to comment Share on other sites More sharing options...
tomwct Posted September 2, 2017 Share Posted September 2, 2017 There is no question here! Are you out looking for a new GF? Link to comment Share on other sites More sharing options...
nasanews Posted September 2, 2017 Author Share Posted September 2, 2017 The U.S debt is more than 20 trillions and still the greatest country in the world. Link to comment Share on other sites More sharing options...
inThailand Posted September 2, 2017 Share Posted September 2, 2017 20% interest monthly? Even here that is excessive. Link to comment Share on other sites More sharing options...
Watchful Posted September 2, 2017 Share Posted September 2, 2017 3 hours ago, nasanews said: Why should I run, the world has been running on interest and debt, and still going on! So instead of paying 10K per month over a 50K loan is not as bad as paying 2K over 100K loan. Nasa, you are thinking about this all wrong. The US government borrows money at 2.15% per year on 10 year treasuries. Even at 4% per month this equates to over 48% per year! Your issue isn't which is better; the issue is you simply must unwind this debt! Let me offer a strategy. Borrow from new lender $60K and with that you can pay off lender #1 (50K loan plus 10K interest). Now each month you pay the new lender 10,000 and between 8 and 9 months you'll retire the loan. Just make certain that with the new lender the deal is 4% on the balance owed. Now apply your belt to your GF's ass and warn her she'll get it worse if she ever does anything this stupid again. Link to comment Share on other sites More sharing options...
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