daddy-poorbucks

4 Comments

  • born2setfree@yahoo.com'

    Deatrice Randle

    I decided to check out your Blog because I’m a Single Mother thinking about taking out a personal loan. I have a Credit Card I’m trying to get paid off and then there is the ever present School Loan I’ve been paying down for the past 25 years as well. You have great information on your web page however, I understand that taking out a loan can be tricky because in my research, I haven’t found a loan company who’s interest rate is lower than my Bank nor the Federal Education School Loan Department. I’m concerned about paying more in the long run if I take out a Loan to pay the first 2 off and then the Interest Rate on the 3rd loan is twice as high or more.. I even found a loan company that only offered me 350.00 in the actual Loan but by the last payment, I would have paid them back 2,500.00. I clicked out of that website so fast I bet it made their Heads Spin. LOL!

    Reply
    • Daddy Poorbucks

      Thank you for your comments. The good thing about checking out personal loans here is that you can see your rates without actually impacting your credit so there’s really no harm.

      Be careful about any student loan refinancing of your federal student loans as doing so will take you out of programs available to you for loan forgiveness as well as income-driven payments. With the number of years of payments you have made, you should contact your loan servicing company and see if there are any opportunities for forgiveness.

      I’m the meantime, please feel free to check out our Personal Loans page. We have lenders with very competitive rates available.

      Reply
  • motuke97@gmail.com'

    Michelle Otuke

    Hi Daddypoorbacks, Thank you for your great article on how to get loans for single parents. I am looking to pay down my debt which would be useful for me in saving up for unexpected expense budget in the near future. Do you have any advice on the minimum amount I should save in order to ensure that I don’t spend money on things that I probably do not require?

    Reply
    • Daddy Poorbucks

      Hi. Yes, I would roughly look at housing at 25%, allocate 5-10% for unexpected items, 10% to savings or more, if you can, keep food at 15% or less and then factor in transportation,healthcare and the other items I mentioned like TV, internet, utilities…

      Reply

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