Im getting this loan to pay off my family and friends.. I owe alot of them money and want to get a loan to pay them all off so I can have a payment each month. I cannot pay them off one by one
is this what you are telling the potential lender? if i was them, and heard this, i would definitely deny it. if you can't pay the people you owe now, how are you going to pay the new lender you owe?
You're family and friends suck if they can't work with you on paying them back month by month or some similar kind of setup. I would much rather borrow from my family or friends because I know they are going to be WAY more flexible than any financial institution.
Save $1,000 a month. After 15 months, pay your loans off. Or after 8 months, pay them 50% off and pay off the rest after 15 months.
I have a problem saving money.. Birthdays kills me, I have 7 nieces and nephews, 20 family members, and a handful of close friends... My friends and family don't ask me for the money but it haunts me everyday of my life... I just want to suffer by paying interest rather than not paying them back at all...
Consider this a learning opportunity. Learn to save. Everytime you want to spend the money you are saving, think of your obligation to repay your friends and family.
Life/money is so much simpler when you create a simple little budget for yourself and don't go over it. But first you have to build up a decent chunk in savings so that you aren't living paycheck to paycheck. Seriously, you can write it on a post-it note its so simple. A) Add up how much money you make per month. B) What are your monthly expenses? (Rent/House payment/Car/Bill Payments/Food/Utilities/etc) Itemize all the items in B and either put how much they cost (if they are fixed) or how much you can spend without breaking the budget (esp for food). Then make sure B stays less than A each month.
I want to thank you ahead of time for the moment a few years from now that you will declare bankruptcy and pass that debt on to the rest of us. I really appreciate it.
If i paid 500 a month, it would take me about 30 months to pay everyone off... If i borrow 15000 loan and pay everyone off at once, I would be paying the "bank" 500 a month, for 36 months and lose the interest money which i am agreeing to do so... I dont want to owe "people" "friends and family", I rathe owe the "bank"... think about it hard my friend... why do people consolidate their debts again? in my case.. same thing bro... Think about it hard...
You could borrow the money from the mob. <a href="http://photobucket.com/images/mob%20simpsons" target="_blank"><img src="http://i59.photobucket.com/albums/g309/Fionn-Whelan/Simpsons/mafiasimpsons-1.jpg" border="0" alt="Springfield Mob Pictures, Images and Photos"/></a>
thats a nice sum of money to borrow from people. seems like your family would have just given it to you if was that much. thats just me though.
