I would avoid it at all costs, but if my credit was getting dinged anyway because I couldn't make payments, I would look to take the immediate hit to get out and start rebuilding sooner.
I would ding my credit to get out of debt. For me, the freedom of being out of debt far outweighs the consequences of a low credit score for a few years. Of course, I'll qualify that by saying that I don't have any plans to apply for any kind of loan that would require a decent credit score. And I know that after a while, I could work my credit score back up, all with the benefit of not having debt stressing me out and weighing on me.
If you were going to pay off all of my debt to take a decent sized ding on my credit, I'd do it. Pay off both mortgages and my student loans for me and I wouldn't need to borrow money again for years, so what would it matter? That's better than any sign up bonus credit card.
If I were deeply in debt I'd consider that a bigger issue than my credit score. So yes, I'd take the hit and then work diligently to stay out of the hole in the future -- and take steps to rebuild the credit.
Fresh berries are my splurge! Even a small container of raspberries or blueberries stretches into several breakfasts when combined with yogurt and almonds. A winning combo of super-foods that keeps me sated until lunchtime.
Hoping I can get an answer I've been trying to figure this out for years.. My Grandfather Henry McDaniels was a Constable and moonshine runner ( how convenient) in Greenup KY back in the 30's He has a still in Gainsville FL museum. He passed away when I was very young and My father also. I am getting up in years and I am feeling a sense that I need to learn about this to carry on for my son and his. Family tradition is important to me and I have missed out on this completely. I know a great deal about stills/processes etc from watching them.. The 1 thing I have no clue about is how much corn to sugar to water. example if I have a 10g pot and I put 5 gallons of water in it how much corn and sugar do i use?? Any help would be great as I've tried to figure this out for about a year.
I would, but not to the extent of declaring bankruptcy, but just about anything less! And this is only because we've lived under the hindrance of debt since graduating college, I just want to be free and if I choose to undertake debt again, to do so as a cognizant adult now that put some real strategy behind it.
I am in the take a chance with a 'ding' group. Credit can be improved with some common sense tactics, and being debt free adds to your overall resource toolbox IMHO.
I wouldn't sacrifice my credit to get rid of debt. Credit is too important to all aspects of life nowadays - job applications, your home, your car, not just finances.
Considering that nowadays your credit score is used for everything from housing to employment, I will never intentionally damage my credit by any measurable amount. Ever.
I have had to do this. I was a single woman trying to dig out of my prior marriage debt. I wasn't planning to purchase anything so it didn't matter if it dinged my credit or not
We're already have a mortgage, and we have some savings. So, yeah, I think I'd ding our credit if it meant getting out of debt. It would obviously be the last resort, but we're trying to save up for major expenses, like double-paned windows or my husband's full mouth dental implants (*not* cheap). So I think we could get away with a ding or two.
I would take the credit ding only as a last resort. My first choice would be to get fanatical about paying off the debt by only paying for absolute essentials, downsizing/selling stuff, and increasing my income by taking a second job in the evenings and on weekends. You know, the old fashioned way.
I would take the credit ding only as a last resort. My first choice would be to get fanatical about paying off the debt by only paying for absolute essentials, downsizing/selling stuff, and increasing my income by taking a second job in the evenings and on weekends. You know, the old fashioned way.
Hello! I think I would take a hit to my credit score in order to pay off my debt. I'm currently working hard on that now and I know that I can always help my score get higher and rather worry about that than owing anyone money! Thanks wise bread!
I would. I am a student planning on going through medical school so I'm looking at half a million dollar of debt in education before I see my first real paycheck.
Yes, if I knew I could completely get out of debt and would not need the credit score to buy anything significant in the near future.
I would avoid it at all costs, but if my credit was getting dinged anyway because I couldn't make payments, I would look to take the immediate hit to get out and start rebuilding sooner.
No, I wouldn't do that
I would ding my credit to get out of debt. For me, the freedom of being out of debt far outweighs the consequences of a low credit score for a few years. Of course, I'll qualify that by saying that I don't have any plans to apply for any kind of loan that would require a decent credit score. And I know that after a while, I could work my credit score back up, all with the benefit of not having debt stressing me out and weighing on me.
Yes, I'd do it, as long as it wouldn't be doing anything I view as unethical, like shirking the debt. Being debt-free would be wonderful.
If you were going to pay off all of my debt to take a decent sized ding on my credit, I'd do it. Pay off both mortgages and my student loans for me and I wouldn't need to borrow money again for years, so what would it matter? That's better than any sign up bonus credit card.
If I were deeply in debt I'd consider that a bigger issue than my credit score. So yes, I'd take the hit and then work diligently to stay out of the hole in the future -- and take steps to rebuild the credit.
I wouldn't ding my credit to get out of debt.
Fresh berries are my splurge! Even a small container of raspberries or blueberries stretches into several breakfasts when combined with yogurt and almonds. A winning combo of super-foods that keeps me sated until lunchtime.
Yes! Just to have it gone at this point.
Hoping I can get an answer I've been trying to figure this out for years.. My Grandfather Henry McDaniels was a Constable and moonshine runner ( how convenient) in Greenup KY back in the 30's He has a still in Gainsville FL museum. He passed away when I was very young and My father also. I am getting up in years and I am feeling a sense that I need to learn about this to carry on for my son and his. Family tradition is important to me and I have missed out on this completely. I know a great deal about stills/processes etc from watching them.. The 1 thing I have no clue about is how much corn to sugar to water. example if I have a 10g pot and I put 5 gallons of water in it how much corn and sugar do i use?? Any help would be great as I've tried to figure this out for about a year.
I would, but not to the extent of declaring bankruptcy, but just about anything less! And this is only because we've lived under the hindrance of debt since graduating college, I just want to be free and if I choose to undertake debt again, to do so as a cognizant adult now that put some real strategy behind it.
I am in the take a chance with a 'ding' group. Credit can be improved with some common sense tactics, and being debt free adds to your overall resource toolbox IMHO.
I wouldn't sacrifice my credit to get rid of debt. Credit is too important to all aspects of life nowadays - job applications, your home, your car, not just finances.
Nothing is guaranteed so I would not take that hit/risk
Considering that nowadays your credit score is used for everything from housing to employment, I will never intentionally damage my credit by any measurable amount. Ever.
I have had to do this. I was a single woman trying to dig out of my prior marriage debt. I wasn't planning to purchase anything so it didn't matter if it dinged my credit or not
We're already have a mortgage, and we have some savings. So, yeah, I think I'd ding our credit if it meant getting out of debt. It would obviously be the last resort, but we're trying to save up for major expenses, like double-paned windows or my husband's full mouth dental implants (*not* cheap). So I think we could get away with a ding or two.
No I wouldn't ding my credit b/c I've worked to hard to build up this credit.
I would rather be debt free
I would ding my credit to be debt free, certainly.
I would take the credit ding only as a last resort. My first choice would be to get fanatical about paying off the debt by only paying for absolute essentials, downsizing/selling stuff, and increasing my income by taking a second job in the evenings and on weekends. You know, the old fashioned way.
I would take the credit ding only as a last resort. My first choice would be to get fanatical about paying off the debt by only paying for absolute essentials, downsizing/selling stuff, and increasing my income by taking a second job in the evenings and on weekends. You know, the old fashioned way.
Hello! I think I would take a hit to my credit score in order to pay off my debt. I'm currently working hard on that now and I know that I can always help my score get higher and rather worry about that than owing anyone money! Thanks wise bread!
I would. I am a student planning on going through medical school so I'm looking at half a million dollar of debt in education before I see my first real paycheck.