Are you still waiting for Uncle Sam to put Humpty Dumpty back together again? Are you sitting around in hopes that somehow your financial problems will just fade away? Are you betting on the lottery and playing scratch offs thinking you just might be the next winner? Forget it bean head it isn’t going to happen.
It seems so easy to do when a person has never been in that situation before. Borrowers know how tough it is to make finances work, especially once credit scores drop and options are very limited.
We now find out that there were no conditions attached to the bailout and the banks receiving this money are not using it as liquidity to make new loans available to qualified individuals or businesses. They are not even using this money to pay off or retire all those bad direct loans no third party payday lenders. Rather they are buying up assets or smaller distressed banks and of course paying the CEOs their hard earned bonuses.
Unless you have full intentions to pay off the charge cards when the statement comes, you may want to find a new way to solve the money problem. If you are relying on charge cards or cash advance direct loans to make household payments then you will want to look into cutting back monthly costs.
Now if my math is right, if $55 billion is half of all the bad loans then $110 billion is ALL of them. Which means that the politicians could have bought out all those bad loans for $110 billion as soon as this credit “crisis” started.
But that doesn’t give us the right to go and destroy their lives just because we can. If we can’t accept that sometimes you must just walk away and chalk up a failed relationship – in business, at church, or in love – to just live life, and learn from the experience.
It is necessary to read through the terms and conditions carefully. Interest rates and terms of the loan can be deceiving, so they must be clearly understood by the borrower. Don’t be afraid to ask questions, and don?t sign anything until you know what you are signing. Sometimes, a company might offer loans at a lower rate of interest but charge a high processing fee, negating the effect of any discount. Conversely, a company may claim to have no processing fee, yet attach a higher rate of interest or higher monthly payments.