Posted by Andrea on April 26, 2000 at 05:05:10:
I’ll be facing this here shortly too…
One of the things that I think I’m really gonna have to be solid on if I am to find people who are maybe not even remotely aware of how notes ‘work’ (as I really was only a few weeks ago; before DOW… what an excellent primer!) is the explanation of how I can afford to pay them what may seem like exorbitant rates.
Other possibilities are credit cards and places like AGFC that will happily collect an arm and a leg from you for a consumer loan that can be collateralized be ANYTHING, heck, I’ve even seen people running ads in the classifieds : Need $10,000 can pay 16 % (or 18% or whatever)… secured, blah, blah, blah…
And then the trick will be to keep track and be more than dependable on keeping up those payments… not too long after it all gets going, I’d be willing to bet it’ll just get easier. Having a track record always helps, eh?
Andrea