I think it's ok to ping your credit. I am doing that now. In four years we will be out of debt. I think if you don't get into the habit of running up your debt and learn to control when your on the spending program is perfectly fine. Why not get everything paid in a short time rather than paying interest month after month makes no sense. But the point is to learn control.
I don't think so, but it would depend on how big a ding my credit would take. If it were 20 points, that I could make up quickly, but if we're talking 200, that would not be a wise choice for the future.
Unfortunately, the exact recipe is what gives it the same taste. You can get it close, but it will take trial and error. A purest would omit the sugar, but for practicality, you need sugar. You could just use the sugar wash recipe and add in some corn for flavour. You can look back through the post and see an all corn recipe and all sugar recipe. For every 1/5 of sugar you take away, add 1/5 of the corn recipe. Once you have enough corn, you can start to cut back in smaller ratios until you hit it just like you remember.
Look on the bright side, it's fun and you can mix the products later to achieve a perfect flavour.
Maybe I would ding my credit to get out of debt. The credit can be rebuilt in the next few years, in those years I would be working on whatever I did to get into the mess that caused this, so would be unlikely to need credit, I would need to not be buying new things and working on saving money and paying off this debt and rebuilding my credit to create new good habits so this wouldn't happen again.
I would ding my credit score in order to pay off debt. My reasoning is because your credit score will eventually rise again, and that's a certainty, but your debt can keep building and building and who knows how long it might take you to get out of debt.
I had to make that same decision 2years ago. I owed $250k on my house that was worth $80k. Bank wouldn't refinance, then I lost my job. Consulted with many financial advisors and attorneys. I decided to file for bankruptcy. Yes I lost my house, but I no longer have the fear and stress and health problems related to the burden of my debt. Now I am rebuilding my credit. I was able to get a credit card and get a loan. Both helped me to re-establish my credit. It was a challenging situation and I will probably never want to buy real estate again. But for me I made a informed decision to ding my credit to get out of debt, so I knew what the consequences would be. My decision has helped me to move on with my life.
I would take a ding to my credit score to get out of debt. It doesn't matter how good your credit score is if you have a lot of debt that you're dealing with, because you don't have money to buy what you need. But having debt paid off would give me freedom to use my own money to buy what I need and not need that credit that would look at my credit score. And I could rebuild my credit score over time slowly. Being debt free is a big goal of mine right now.
I think I would ding my credit to be debt free, all that interest adds up and takes forever to pay off. It adds up so fast. I would rather pay cash if I could.
Currently the husband and I are in a very small amount of debt (~$10,000 in student loans, no car note, no credit cards, etc.) and we have successfully been able to pay off all of our past debts quickly and efficiently. If, however, we would get in a situation where we had a substantial ($100,000+) amount of personal debt (medical bills or something of the like) we would absolutely ding our credit to pay it off. I don't see this happening though, because we have made a pledge to live a debt free life, and if possible when we buy a home we will pay cash for it.
I did it... filed bankruptcy to get out of debt. And it was the best decision I ever made, given the circumstances. It was a huge ding to my credit, but after 10 years I'd made a complete recovery, I have no debt other than a mortgage and I have a FICO score of 800.
It took years to recover, but it was the right thing to do at the time. I live in a Community Property state (Louisiana) and my ex-husband left me with $750K in debt from his failed business, as well as an IRS lien on our house, 2 young sons and a part-time job. There was no other way out. I could never have repaid that amount of money.
So my answer is it depends on your circumstances. If you can pay off the debt in a reasonable time, that's one thing. If you can't, that's another. I was being harassed by my ex-husband's creditors, followed by private investigators looking for him, though he was long gone. Sometimes, you do what you have to do. I have no regrets!
It depends (such a typical answer in personal finance!). I would take a look at my seven year picture.
If there was a reasonable chance that I could use more debt in the future to sustainably make my life better I would be hesitant to ding my credit. If; however, I felt like my debt was overwhelming and I could not see any improvements in my life income wise over the next seven years I would take the credit hit in a heart beat to wipe out my debt. Bankruptcy and debt restructuring are amazing tools that can help protect you in the long term. Just make sure you use them when it ACTUALLY makes sense and when you REALLY need it, not when you just wish you had more money to spend.
I've seen many people (employees) act like the own the whole place going so far as acting like security guards, sounding entitled, not caring wether the customer is happy or not but is more on the look out for profit and all it earned them was a complaint from me to their higher ups as well they stay in the same position for years and years because they know nothing but acting like they own the place. This information is for the dumb to benefit the rich and smart.
These tips actually work pretty well. I wouldn't use a razor much longer than a couple weeks though because I prefer the aloe strip to still be working. Another good tip, don't buy blades at the store. I use Harry's Razors. They are classy and less than half the price of blades in stores. Buying online combined with these tips will save you some serious doe.
That depends...if I was about to make a large purchase I needed financing to obtain, such as a home, education, or vehicle, then no, I wouldn't. Otherwise, I would! Although I suppose it would depend upon the size of the ding. If someone gave me $50k to pay off my student loans to shave 50 points off my FICO score, I would, but if it was going to cost me 300 points I wouldn't.
I wouldn't ding my credit to get out of debt. I've found that debt has not affected my high credit score in any way, so in my mind, debt is the preferable situation.
I think it's ok to ping your credit. I am doing that now. In four years we will be out of debt. I think if you don't get into the habit of running up your debt and learn to control when your on the spending program is perfectly fine. Why not get everything paid in a short time rather than paying interest month after month makes no sense. But the point is to learn control.
I don't think so, but it would depend on how big a ding my credit would take. If it were 20 points, that I could make up quickly, but if we're talking 200, that would not be a wise choice for the future.
HenryHuggleMonster,
Unfortunately, the exact recipe is what gives it the same taste. You can get it close, but it will take trial and error. A purest would omit the sugar, but for practicality, you need sugar. You could just use the sugar wash recipe and add in some corn for flavour. You can look back through the post and see an all corn recipe and all sugar recipe. For every 1/5 of sugar you take away, add 1/5 of the corn recipe. Once you have enough corn, you can start to cut back in smaller ratios until you hit it just like you remember.
Look on the bright side, it's fun and you can mix the products later to achieve a perfect flavour.
Zorcy
Maybe I would ding my credit to get out of debt. The credit can be rebuilt in the next few years, in those years I would be working on whatever I did to get into the mess that caused this, so would be unlikely to need credit, I would need to not be buying new things and working on saving money and paying off this debt and rebuilding my credit to create new good habits so this wouldn't happen again.
I would not do it and hope I would never be in that position.
I would ding my credit score in order to pay off debt. My reasoning is because your credit score will eventually rise again, and that's a certainty, but your debt can keep building and building and who knows how long it might take you to get out of debt.
I'm a writer living in Paris, and my girlfriend and I together get by on a lot less than 12,000 per year.
I had to make that same decision 2years ago. I owed $250k on my house that was worth $80k. Bank wouldn't refinance, then I lost my job. Consulted with many financial advisors and attorneys. I decided to file for bankruptcy. Yes I lost my house, but I no longer have the fear and stress and health problems related to the burden of my debt. Now I am rebuilding my credit. I was able to get a credit card and get a loan. Both helped me to re-establish my credit. It was a challenging situation and I will probably never want to buy real estate again. But for me I made a informed decision to ding my credit to get out of debt, so I knew what the consequences would be. My decision has helped me to move on with my life.
I would take a ding to my credit score to get out of debt. It doesn't matter how good your credit score is if you have a lot of debt that you're dealing with, because you don't have money to buy what you need. But having debt paid off would give me freedom to use my own money to buy what I need and not need that credit that would look at my credit score. And I could rebuild my credit score over time slowly. Being debt free is a big goal of mine right now.
I think I would ding my credit to be debt free, all that interest adds up and takes forever to pay off. It adds up so fast. I would rather pay cash if I could.
I'm torn and hope I don't have to choose! BUT I probably wouldn't ding my credit.
I would ding, but not a huge dent worth.
Currently the husband and I are in a very small amount of debt (~$10,000 in student loans, no car note, no credit cards, etc.) and we have successfully been able to pay off all of our past debts quickly and efficiently. If, however, we would get in a situation where we had a substantial ($100,000+) amount of personal debt (medical bills or something of the like) we would absolutely ding our credit to pay it off. I don't see this happening though, because we have made a pledge to live a debt free life, and if possible when we buy a home we will pay cash for it.
Debt lingers over my head and sucks up all my money. My credit score will recover. I would take a hit on my credit score to get out of debt.
I did it... filed bankruptcy to get out of debt. And it was the best decision I ever made, given the circumstances. It was a huge ding to my credit, but after 10 years I'd made a complete recovery, I have no debt other than a mortgage and I have a FICO score of 800.
It took years to recover, but it was the right thing to do at the time. I live in a Community Property state (Louisiana) and my ex-husband left me with $750K in debt from his failed business, as well as an IRS lien on our house, 2 young sons and a part-time job. There was no other way out. I could never have repaid that amount of money.
So my answer is it depends on your circumstances. If you can pay off the debt in a reasonable time, that's one thing. If you can't, that's another. I was being harassed by my ex-husband's creditors, followed by private investigators looking for him, though he was long gone. Sometimes, you do what you have to do. I have no regrets!
It depends (such a typical answer in personal finance!). I would take a look at my seven year picture.
If there was a reasonable chance that I could use more debt in the future to sustainably make my life better I would be hesitant to ding my credit. If; however, I felt like my debt was overwhelming and I could not see any improvements in my life income wise over the next seven years I would take the credit hit in a heart beat to wipe out my debt. Bankruptcy and debt restructuring are amazing tools that can help protect you in the long term. Just make sure you use them when it ACTUALLY makes sense and when you REALLY need it, not when you just wish you had more money to spend.
I don't think I would ding my credit cards. though one never does know what one would do if pushed by extreme measures.
I've seen many people (employees) act like the own the whole place going so far as acting like security guards, sounding entitled, not caring wether the customer is happy or not but is more on the look out for profit and all it earned them was a complaint from me to their higher ups as well they stay in the same position for years and years because they know nothing but acting like they own the place. This information is for the dumb to benefit the rich and smart.
If needed to.
These tips actually work pretty well. I wouldn't use a razor much longer than a couple weeks though because I prefer the aloe strip to still be working. Another good tip, don't buy blades at the store. I use Harry's Razors. They are classy and less than half the price of blades in stores. Buying online combined with these tips will save you some serious doe.
Check it out.
i don't think i would. i'd rather spend longer getting out of debt.
That depends...if I was about to make a large purchase I needed financing to obtain, such as a home, education, or vehicle, then no, I wouldn't. Otherwise, I would! Although I suppose it would depend upon the size of the ding. If someone gave me $50k to pay off my student loans to shave 50 points off my FICO score, I would, but if it was going to cost me 300 points I wouldn't.
I wouldn't ding my credit to get out of debt. I've found that debt has not affected my high credit score in any way, so in my mind, debt is the preferable situation.
I am in debt right now, so I would say yes I would ding my credit!
Would be better to be debt free and not paying interest on debt.