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2
Posted on 2/14/16 at 12:25 am to RebelOP
*sigh*
The products I'm talking about hold the cash for the remaining balance of the loan. It's not like you can cash out the savings account to handle an unexpected expense after taking out a loan against it.
How the hell does handing over 5000 in your savings account in order to get a 5000 dollar loan give you flexibility of liquidity? As you pay it back, you can potentially regain access to the principal.
It's the exact same as far as liquidity goes, except you are being charged for the service. You can't tap that principal, no matter how dire the emergency, without paying off the loan first.
The products I'm talking about hold the cash for the remaining balance of the loan. It's not like you can cash out the savings account to handle an unexpected expense after taking out a loan against it.
How the hell does handing over 5000 in your savings account in order to get a 5000 dollar loan give you flexibility of liquidity? As you pay it back, you can potentially regain access to the principal.
It's the exact same as far as liquidity goes, except you are being charged for the service. You can't tap that principal, no matter how dire the emergency, without paying off the loan first.
This post was edited on 2/14/16 at 12:46 am
Posted on 2/14/16 at 11:03 am to RebelOP
quote:
Don't try, we've tried. It's useless
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