Installment Loan Question.
Date: Tue, 02/22/2011 - 14:13
Hello!
I have a question for you all! At the end of December/early January, my husband and I had a house emergency, drained our emergency fund, still needed money, so we felt we had little option but to go to Check-n-Go and get an installment loan, house fixed, first two payments made, everything fine.
We are not used to paying such ridiculous interest, and have no desire to do so, so we were discussing why not just let the check go through for March? Is there an issue with doing this? The check will clear, March won't be the most fun month for sure-definetly no extras or spontaneous spending, but we feel like there would be a monkey off our backs.
Thanks so much in advance for any and all answers!
I have a question for you all! At the end of December/early January, my husband and I had a house emergency, drained our emergency fund, still needed money, so we felt we had little option but to go to Check-n-Go and get an installment loan, house fixed, first two payments made, everything fine.
We are not used to paying such ridiculous interest, and have no desire to do so, so we were discussing why not just let the check go through for March? Is there an issue with doing this? The check will clear, March won't be the most fun month for sure-definetly no extras or spontaneous spending, but we feel like there would be a monkey off our backs.
Thanks so much in advance for any and all answers!
yes pay it off if you can just let them know your intentions of
yes pay it off if you can just let them know your intentions of letting the check go through.communicate with them.that is key.
Thanks for the info! My husband did call and asked about it, the
Thanks for the info! My husband did call and asked about it, they said it would be put through, but they didn't seem to keen on the idea, probably because then there wouldn't be tons more interest collected from us, but, ugh, it's ridiculous.
Lesson learned I guess, need to double up the emergency fund!
of course they are not keen on the idea,even the store fronts fo
of course they are not keen on the idea,even the store fronts for the most part want you to rollover for awhile.that is their MO.stick to that and make sure you get a PIF when that does clear.