Debt – An Eliminate Your Debt Offer I Could Refuse
Debt Elimination – This week in my mailbox I got this offer to “eliminate” my debts in 2007? from a national nursing association that apparently offers loans to nurses that can be used for anything you are willing to spend money on, including paying off your bills. It struck me that this “loan” is marketed to nurses like myself as a way to eliminate debt. In the end, it’s another debt. The only useful part of such an offer is the interest rate – 8.99% and you pick the length of the loan – thus choose the size of your monthly payments.
The bottom line? This offer markets itself as a way out of debt while it really simply shuffles the debt from one place to another. Since there is that sniggly little statement that tells me they reserve the right to raise the interest rate at any time for any reason they deem fit – I’m not even guaranteed the rate will stay low. I could be silly enough to take them up on their offer and eliminate my debts into one BIG DEBT thinking I will save on interest rates when in fact – I am still in debt and the rate can jump at any time.
My thoughts – there is a part of me that wants the easy way out. I have a love – hate relationship with money. Often unsure what is the right move for me but I chose to NOT start another debt to fix my problems with debts I already have. Living without credit and loans is a harder lifestyle but it’s what I choose. Your thoughts? 
Tags: budget, debt, Eliminate Debt, loan, money
