Would you rather…Default on all loans, OR…

by J. Money - Published May 26, 2008

I know i just did one of these last week (the George Bush deal), but they’re so much fun! And plus it’s Memorial Day – which means it’s a holiday, and I can do whatever i want ;) That, and it’s also my blog. haha…

Since I won’t be up bright and early like usual on a Monday morning, I was sure to plop this one up at 1a.m., just for you!

Please to enjoy:

Would you rather… Default on all loans, credit cards, mortgages, etc for 5 months straight (no payments allowed at all, no matter what even if you have the money) – OR would you rather give Uncle Sam a one time $20,000 check to avoid it all together?”

And you have to pick one. It’ll suck either way, but which would be better? That’s the tricky part. I’ll post my answer later ;)


Bonus tip: Find a good "balance transfer" offer to help pay off debt faster!

If you’ve been making payment after payment (on time) and still haven't been able to get your debt under control, snatching up a good balance transfer credit card offer may be the ticket to try. That’s where in order to gain your business - credit card companies will let you transfer your existing debt to a new card and let you pay ZERO PERCENT interest on it. Saving you tons every month!

What's the catch? Usually balance transfer cards charge a fee (around 3% of your debt balance) to let you transfer your balance to their 0% interest offer. But we've found a great credit card that will let you do a balance transfer absolutely free. Click here to learn more and see if you qualify!

PS: If you don't trust yourself with another credit card, ignore this! This strategy is to help you get out of debt quicker, not risk adding more to it.

Jay loves talking about money, experimenting, blasting hip-hop, and hanging out with his two beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!

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