Help in a Pinch

Here’s a story for you.

Back in the days when I was young and irresponsible (read: most of my 20s), I was one of those people who looked at credit cards as being “free money.” Of course, there also came a time when I was selling off my music CD collection to pay my Visa bill, so obviously I was an idiot.

There came a time though, when I considered Personal Loans as my only option. In way over my head, I applied for and received a personal loan to pay off my debts. The difference was amazing – I went from panicking over my next car payment which was already overdue to writing the check a couple weeks in advance, knowing I now had the funds to pay it. And the personal loan that I had taken out covered more than a few of my debts, rolling them into a much lower payment, to the point where I didn’t have to feel guilty about buying groceries.

I’d definitely consider getting one again in the future should the need arise (and that need could be for any reason – loss of income, unexpected medical bills that deplete our modest savings, major home repairs, etc.). The idea of having ONE low payment each month versus two car bills and four or five credit cards to keep track of is a definitely plus. For now I’m fine with the status quo, but having been in pretty dire straits at one time in my life, I’d go running for a loan should it ever come to that again. I know that loans can work – they can save someone when they are in financial trouble. It certainly helped me.