Comments on: Should I cash in bonds to pay of debt? http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/ Everything You Want Wed, 08 Feb 2012 21:49:14 +0000 http://wordpress.org/?v=2.7-beta2 hourly 1 By: dave http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/comment-page-1/#comment-37781 dave Wed, 09 May 2007 10:36:54 +0000 http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/#comment-37781 Angela, Cashing in the bonds is certainly a possibility, but there are other options as well. There's a good article at eHow on steps to take to begin tackling your debt. Take a look at it: How to Stop Escalating Debt You can also look here for tips on earning some extra cash online: How to make money on the internet, scam-free Lastly, here's an interesting alternative to conventional lending...getting a "social networking" loan from Virgin Money (from the same folks who run Virgin Airlines): Social Loans from Virgin Money Hope these help. Angela,

Cashing in the bonds is certainly a possibility, but there are other options as well.

There’s a good article at eHow on steps to take to begin tackling your debt. Take a look at it:

How to Stop Escalating Debt

You can also look here for tips on earning some extra cash online:

How to make money on the internet, scam-free

Lastly, here’s an interesting alternative to conventional lending…getting a “social networking” loan from Virgin Money (from the same folks who run Virgin Airlines):

Social Loans from Virgin Money

Hope these help.

]]> By: Advisor http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/comment-page-1/#comment-37780 Advisor Wed, 09 May 2007 00:35:23 +0000 http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/#comment-37780 Something to consider... If you do use these bonds to pay off debt, will that allow you to save? If you can pay off some smaller debts and that frees up cash flow for you which will both improve your lifestyle and allow you to save up some money again over time it might make sense. If, however, you use the bonds to pay down a large debt and you are still making the same payments as before; it will not have a large impact on your daily life and you will have less money available in case of an emergency. The things everyone else said are all true, but usually when it comes to paying off debt, it makes the most sense to find ways to do it that will either improve your lifestyle, or your peace of mind. Something to consider…

If you do use these bonds to pay off debt, will that allow you to save?

If you can pay off some smaller debts and that frees up cash flow for you which will both improve your lifestyle and allow you to save up some money again over time it might make sense. If, however, you use the bonds to pay down a large debt and you are still making the same payments as before; it will not have a large impact on your daily life and you will have less money available in case of an emergency.

The things everyone else said are all true, but usually when it comes to paying off debt, it makes the most sense to find ways to do it that will either improve your lifestyle, or your peace of mind.

]]> By: can't say http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/comment-page-1/#comment-37779 can't say Sun, 06 May 2007 16:38:28 +0000 http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/#comment-37779 If your debt has an interest rate higher than 2 or 4%, it might be a good idea to cash them in to get the debt paid off. It would save you money. If your debt is no-interest and you plan to pay it off in full before interest starts, then keep the bonds. If your debt has an interest rate higher than 2 or 4%, it might be a good idea to cash them in to get the debt paid off. It would save you money. If your debt is no-interest and you plan to pay it off in full before interest starts, then keep the bonds.

]]> By: Theo S http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/comment-page-1/#comment-37778 Theo S Fri, 04 May 2007 22:26:38 +0000 http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/#comment-37778 Well, if you take into consideration that the cost of servicing the debt is higher, which usually is the case, you will be saving some money there. But if you have to sacrifice a part of the fresh capital to taxes, this amount has to be deduced from the gained savings. If you also lose tax deduction of the interest paid, this has to be factored is as well. It might well be that the end result becomes negative because of the accrued fiscal charge, in which case it will be better to hold on to the bond and continue to service the debt. Well, if you take into consideration that the cost of servicing the debt is higher, which usually is the case, you will be saving some money there. But if you have to sacrifice a part of the fresh capital to taxes, this amount has to be deduced from the gained savings.

If you also lose tax deduction of the interest paid, this has to be factored is as well.

It might well be that the end result becomes negative because of the accrued fiscal charge, in which case it will be better to hold on to the bond and continue to service the debt.

]]> By: lilsnob8681 http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/comment-page-1/#comment-37777 lilsnob8681 Wed, 02 May 2007 21:35:33 +0000 http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/#comment-37777 Yes you definitely could. But of course you will have to pay taxes on it. Isn't it sad to see that we are cashing in our hard earned stashed money to pay off debt due to this bad economy. It is ridiculous. I hate it. Good luck and I guess we have to do what we have to do. Yes you definitely could. But of course you will have to pay taxes on it. Isn’t it sad to see that we are cashing in our hard earned stashed money to pay off debt due to this bad economy. It is ridiculous. I hate it. Good luck and I guess we have to do what we have to do.

]]> By: Dont_taze_me_bro http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/comment-page-1/#comment-37776 Dont_taze_me_bro Tue, 01 May 2007 19:04:20 +0000 http://www.web-player.com/should-i-cash-in-bonds-to-pay-of-debt/#comment-37776 Yes, but it will be taxable income, so you'll pay taxes on your 2008 1040. Yes, but it will be taxable income, so you’ll pay taxes on your 2008 1040.

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