Author Topic: Please share your thoughts  (Read 773 times)

emmajacob36

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Please share your thoughts
« on: Sep 16, 2011, 11:48:00 AM »
Is it safe to use small regional lenders or would I be better protected borrowing from a larger bank?

James Falla

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Re: Please share your thoughts
« Reply #1 on: Sep 16, 2011, 11:54:59 AM »
Hi Emma
 
As long as the bank is reputable I would be inclined to use the one which gives you the best rate of interest. Are you thinking of consolidating your debts?
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emmajacob36

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Re: Please share your thoughts
« Reply #2 on: Sep 23, 2011, 11:10:42 AM »
Hi Emma
 
As long as the bank is reputable I would be inclined to use the one which gives you the best rate of interest. Are you thinking of consolidating your debts?

Yes I am thinking of consolidating debts. Please advice.

James Falla

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Re: Please share your thoughts
« Reply #3 on: Sep 29, 2011, 11:26:07 AM »
If you are looking to borrow so you can consolidate, then the most important piece of advice I can give you is make sure you do an income and expenditure statement and work out your disposable income first.  Disposable income is what you can pay your creditors after all of your monthly living expenses ar taken into account. If the monthly consolidation loan repayments are affordable based on your disposable income then go for it. If they are not then do not borrow more as you will simply end up making things worse.
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