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Can you take out a loan to pay for the wedding?

madseason Posted:

Can you take out a loan to pay for the wedding?

Seriously? Can you?

MikeandJess Posted:

Re: Can you take out a loan to pay for the wedding?

I'm sure you can but the interest rates are really really high

AMGBride2008 Posted:

Re: Can you take out a loan to pay for the wedding?

Yep... I think you just take out a personal loan from the bank...

ant n tilde Posted:

Re: Can you take out a loan to pay for the wedding?

yup - you can take out a bank loan for basically anything but its kind of stinky interest

there are also credit unions etc.

just be careful please - you dont want to start your new life with debt!
madseason Posted:

Re: Can you take out a loan to pay for the wedding?

im not gonna do anyting just yet....as long as its an option!

Ilovebriani Posted:

Re: Can you take out a loan to pay for the wedding?

awww....i bet you can....dont know where though. after all my student loans (over 70K)....i cannot afford any more loans....

at this rate....with the cost of the wedding i could be paying off my freakin student loans in one shot (more than half of them anyway)!!! i must be insane for not doing that instead of the wedding.
ant n tilde Posted:

Re: Can you take out a loan to pay for the wedding?

Posted by Ilovebriani

awww....i bet you can....dont know where though. after all my student loans (over 70K)....i cannot afford any more loans....

at this rate....with the cost of the wedding i could be paying off my freakin student loans in one shot (more than half of them anyway)!!! i must be insane for not doing that instead of the wedding.


yup i have about $40 K in student loans ( for a degree and a masters degree that i am not even using) so i DEFINITELY understand your pain

i never want to take out a loan again. . . seriously.
ntunison Posted:

Re: Can you take out a loan to pay for the wedding?

yup you can! that's what i'm going to have to do... interest is high, but if you use the gifts from the wedding to pay it off then you don't have to worry about it...

Espo22 Posted:

Re: Can you take out a loan to pay for the wedding?

You can but just be careful bc after interest you'll basically be paying double for everything.

madseason Posted:

Re: Can you take out a loan to pay for the wedding?

forget that!
Ilovebriani Posted:

Re: Can you take out a loan to pay for the wedding?

Posted by Espo22

You can but just be careful bc after interest you'll basically be paying double for everything.


yeah its true....and the interest would be higher for a private loan like that. it really comes out to a lot more that you end up paying back. like i said before....after having all my student loans....i would not wish them on anyone!! they may seem like an easy way out at first (i used to feel that way)....but it is a lot of work paying them off.
beachbum05 Posted:

Re: Can you take out a loan to pay for the wedding?

Go through your bank if youre interested....

But honestly, the other ladies are right....interest rates are high.....

I say, (and i say this with caution), if you need to pay for some things on borrowed money, open a credit card with a LOW APR....or one that has 0% interest for a year......and do it that way....?
missigreg Posted:

Re: Can you take out a loan to pay for the wedding?

statefarm offers personal loans... and i got a rate somewheres around 5% which is pretty good.

failurebydsign Posted:

Re: Can you take out a loan to pay for the wedding?

5% is fantastic..id do it..but my credit is shot

SeaMaiden Posted:

Re: Can you take out a loan to pay for the wedding?

i also have over 70K in student loans and was feeling guilty for spending half of what i owe on a wedding. I feel better knowing im not the only one. but at this point i am in so much debt, what difference does 30k more make??
BubbasBride Posted:

Re: Can you take out a loan to pay for the wedding?

At least if you are going to have debt, student loans are considered a 'good' kind of debt to have!!

Snowflake08 Posted:

Re: Can you take out a loan to pay for the wedding?

that depends on where you are taking the money from

cherish83 Posted:

Re: Can you take out a loan to pay for the wedding?

you could.. but honestly i wouldnt... try and keep it as low in cost as you CAN afford.. i'm trying not to use credit cards because i dont want to start out in debt and IMO, you can't count on wedding gifts to help pay off cards or loans.. i would be on the safe side and not if you could

cherish83 Posted:

Re: Can you take out a loan to pay for the wedding?

Posted by BubbasBride

At least if you are going to have debt, student loans are considered a 'good' kind of debt to have!!



lucky for me and FH, combined we have about 70k in student loans
Belongs2DanBuckley Posted:

Re: Can you take out a loan to pay for the wedding?

what about credit cards?

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