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Personal loan
Taking loan to repay another loan?
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[QUOTE="Jasz, post: 281682, member: 61772"] I would have said you can never be too careful when it comes to money, so take that extra loan and make sure you pay it off as soon as possible, but It's a very funny and risky idea to take a loan to repay another loan. You'll be paying interest on what you borrowed in the first place, and if you don't pay it back, you'll end up paying that interest as well. It's also not smart if you're going after a loan for an expensive purchase—say, buying a car—and then using the money to pay off an existing loan. If you can't afford the loan on its own, why not just pay off the car? If you do decide to go this route, make sure that your credit score is pristine before taking out any new loans. That way you'll have less risk of having your credit score impacted negatively by this type of transaction. [/QUOTE]
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Taking loan to repay another loan?
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