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Wedding Loan?

abc7077 Posted: Oct 27, 2002 10:24 AM+

abc7077 MEMBER SINCE: 4/02 TOTAL POSTS : 1143 WEDDING DATE: Dec 07, 2002

Posted: Oct 27, 2002 10:24 AM

Wedding Loan?

FH and I are paying for the wedding. We are looking to see if there is some sort of wedding loan with a low interest rate that we can take out and then immediately put the gifts in and whatever extra we need to to pay for the rest. Anyone know about a loan that would let us do that??? Without an enormous interest rate??? Thanks!!!!

girlygrl33 Posted: Oct 27, 2002 10:28 AM+

girlygrl33 MEMBER SINCE: 10/02 TOTAL POSTS : 2644 WEDDING DATE: Apr 22, 2005

Posted: Oct 27, 2002 10:28 AM

Re: Wedding Loan?

That is a great question. FH and I are in the same boat, that is why we havent set a date yet. I'm anxious to hear any suggestions too.

Marcela1654 Posted: Oct 27, 2002 11:10 AM+

Marcela1654 MEMBER SINCE: 2/02 TOTAL POSTS : 10382 WEDDING DATE: May 16, 2004

Posted: Oct 27, 2002 11:10 AM

Re: Wedding Loan?

Hi, I don't know much about wedding loans. But if you go to the Knot.com Loan
You can get free information on a wedding loan from MBNA.

Good Luck!!

abc7077 Posted: Oct 27, 2002 12:02 PM+

abc7077 MEMBER SINCE: 4/02 TOTAL POSTS : 1143 WEDDING DATE: Dec 07, 2002

Posted: Oct 27, 2002 12:02 PM

Re: Wedding Loan?

thanks for the info! I will check into it. Anyone else??? Thanks

NIHA Posted: Oct 27, 2002 01:16 PM+

NIHA MEMBER SINCE: 1/02 TOTAL POSTS : 3206 WEDDING DATE: Jun 22, 2002

Posted: Oct 27, 2002 01:16 PM

Re: Wedding Loan?

I would suggest applying for a 0% or low interest rate credit card that lasts for 6 months or 1 year. This way, you can pay for some stuff on a credit card, then transfer the balance to the lower card, and pay it off within the time frame.

abc7077 Posted: Oct 27, 2002 02:26 PM+

abc7077 MEMBER SINCE: 4/02 TOTAL POSTS : 1143 WEDDING DATE: Dec 07, 2002

Posted: Oct 27, 2002 02:26 PM

Re: Wedding Loan?

Nina, the problem is that if you can't pay with a credit card, only cash, you can't get a cash advance without having to pay a very high fee. I am looking to get cash for paying.

NIHA Posted: Oct 27, 2002 04:16 PM+

NIHA MEMBER SINCE: 1/02 TOTAL POSTS : 3206 WEDDING DATE: Jun 22, 2002

Posted: Oct 27, 2002 04:16 PM

Re: Wedding Loan?

That's true, I did get a cash advance, but what I did was since one of my CC was offering a low rate for cash advances, I took them up on that offer, and then paid off that balance with a 0% interest card. It was the complicated way to do it. But, we paid everything off the month after the wedding and were debt free.

MarcellaBella Posted: Oct 28, 2002 11:52 AM+

MarcellaBella MEMBER SINCE: 7/02 TOTAL POSTS : 7370 WEDDING DATE: Aug 09, 2003

Posted: Oct 28, 2002 11:52 AM

Re: Wedding Loan?

How about a line of credit??

But in all honesty, unless you are really desparate and really strapped for cash, I suggest that you do something other than take out a loan.. Once the wedding is over, you want to be able to relax and enjoy yourselves and whatever money you get from the wedding (sorry if that sound bad), rather than continue to work hard to pay everything off..

karen32 Posted: Oct 28, 2002 12:05 PM+

karen32 MEMBER SINCE: 8/02 TOTAL POSTS : 4562 WEDDING DATE: Oct 25, 2003

Posted: Oct 28, 2002 12:05 PM

Re: Wedding Loan?

Can you take a loan from your 401(k) at work? You'll be paying interest to yourself and the market is so bad right now, your 401(k) probably isn't doing much for you anyway and the paperwork is minimal compared to a regular loan.

Good Luck!!

cecil Posted: Oct 28, 2002 12:08 PM+

cecil MEMBER SINCE: 9/02 TOTAL POSTS : 257 WEDDING DATE: Mar 28, 2004

Posted: Oct 28, 2002 12:08 PM

Re: Wedding Loan?

A lot of places do not let you pay with a credit card, we wanted to charge just to get the miles on his credit card to use for or honeymoon, so far we have been able to use the credit card for deposit at caterers, and I heard you can use it at the florist.

Mary05 Posted: Oct 28, 2002 01:01 PM+

Mary05 MEMBER SINCE: 9/02 TOTAL POSTS : 184 WEDDING DATE: Sep 25, 2005

Posted: Oct 28, 2002 01:01 PM

Re: Wedding Loan?

I would NOT borrow against my 401K. I am looking into a loan or refinance. This way the interest is tax deductable and that will help! I am planning on calling Liz at IPI skyscraper mortgage. I know someone who used them and said she was very helpful. Liz Nikolic at 516-997-1234 Extension 235 Good Luck. I would definetly look into this option. Either a Loan, equity loan, or refinance. Usually no closing costs and you can pay it back early if you want. If not your house maybe your parents.