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« The Best Financial Book I've Ever Read, Part 3 | Main | Identity Theft Issues Everywhere »

July 20, 2005


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Love your site, thanks for the link! I remember waking up a few years ago, and noticing that my credit cards were taking over my financial life. I was buying and buying and buying...they are addictive. I think that the reason that I go with Dave's plan over Suze's is that I know that I am a credit "junkie." I cannot give myself any leeway when it comes to credit card use. It's either all or nothing. Some may think that this is crazy or "weak," but I think that this is a sensible response to a real problem I had (have). Thanks again for your great site.

I'm new to blogging, but came across your site in the WSJ Sunday Edition. I am retired and have reached my financial goals thru never going into debt (aside from mortgage). I recently grew so tired of offers for interest free loans from my credit card issuers that I signed one of their "free" blank checks into my MM account in the amount of $10,000.00. I then bought 10K worth of an exchange traded stock that I,ve had for several years which pays 12.5% dividend. I only have 6 months of "no interest" on the loan, but for the last three months I've been getting $80.00 plus a month and the stock has risen $1200.00 in value. I love the idea of making money on the bank's money. There are a few things you should know before trying this. Mail me for details.

I admire his ingenuity and just pray that the dividend is secure!

401(k) loans are such a bad idea, I'm surprised it's offered. Plus if you leave your job while still paying your loan off, you need to pay it immediately or face IRS penalties. OUCH!

The problem most of the time is that when people use home equity to pay off credit card debt, they have never addressed the problem of why they have the credit card debt in the first place - that's what makes it so terrible. Since the source of the problem never has to be addressed the likelihood of credit card debt coming back is extremely high.

The "correct" ways to pay it off addresses this problem by forcing you to figure out how you got there in the first place. I'm not against using a home equity loan to pay of credit card debt IF you have solved the problem that got you there in the first place corrected before doing so. That is a big "if" for most people.

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