A policyholder can withdraw or borrow these funds for any reason that they desire,
including paying off higher interest debts, supplementing retirement income, or even for taking a nice vacation.
Not exact matches
Credit card
debt and interim loans,
including overdraft protection arrangements and payday loans, typically charge very
high interest rates, and can also have penalty fees that make these
debts difficult to
pay off.
They give debtors a strategy that
includes paying off debt on
higher interest rate cards first to speed up repayment.
Well, that's what Point is doing, and it has some intriguing uses -
including being used as a «bridge loan» to cover the costs for buying a new house, to
paying off high interest debt.
The reasons for you to refinance
include a desire to reduce your monthly payment and
interest rates, to reduce your overall loan amount or to get a low -
interest loan to
pay off higher interest credit card
debts.
(a) A matched 401 (k) should always be the first priority, even before
paying off the 18 % credit card sooner, (b) next comes the
high interest cards, (c) the lower
interest debts including the car loans, (d) the emergency fund.
Policyholders can either withdraw or borrow against the cash value of the policy for any reason,
including paying off high -
interest debt, supplementing income, or even taking a nice vacation.
This may
include supplementing his or her retirement income,
paying off high -
interest debts, and / or taking a long awaited nice vacation.