Jump to content

Recommended Posts

Posted

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?

 

Posted

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.

Posted

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.:stoner:

Posted
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.:stoner:

 

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.

 

 

 

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...