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10k loan.

By Terry Savage on July 20, 2022 | Credit/Debt

Bello Terry, I have the opportunity to secure a 10k loan, but I must put up my 2010 Taurus. I am trying to fix my credit and possibly buy a home in next 5 years. I have not a lot, but about 4k in debt ( plus student loans). Is this the worst idea? I am asking you because I don’t want friends and family bias. I am 46 years d.

Terry Says

You didn’t say why you want/need the loan! So how could I know if this is a good deal.
My best guess is that this is a TERRIBLE move! You don’t get out of debt by digging a deeper hole!!

Right now there is such a great demand for workers everywhere. So get an evening/weekend job and earn some more money perhaps as a waiter at a nearby restaurant. That’s how to get more $$– not through an expensive loan!!

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