I Have To Admit

Yes, I have to admit, I'm in a bit of a money crunch right now.

LOL, nothing new there! Being a single parent is never easy.

Anyway, I got one of those "you can borrow" letters in the mail. The offer was about what I need to cover some very pressing bills. So I called, they said I could borrow this money, BUT I'd have to use my paid off truck as collateral.

You know, I just wasn't comfortable with this.

It smelled like BULL DROPPINGS to me!

But then, as I was thinking about this, it suddenly came to me. I called my credit union. Yes, I still have to use my truck as collateral, but since I have direct deposit, they take the money off the top (IE, I never see it) so I can never get behind or have any crazy issues about my vehicle.

On top of that, I got a little MORE money, at a lower interest rate, with a shorter term loan for a little bit lower payments. Plus, when it's auto-pay, you get a discount of 1/4 % off your interest rate!

A much better deal. Plus they're direct paying the bills, so I don't even have to worry about mailing out the checks. The credit union is taking care of everything.

So, my friends, be warned that when you get an offer in the mail, rather than go for the first and supposedly easy loan, check it out. You can probably get a better deal by checking with your own bank or credit union!