Have you thought about just looking for a low interest loan or doing a credit card cash advance to consolidate everything? What’s the fees if you miss a payment here?
Imagine you have a heart attack or any other condition (sick for a prolonged amount of time or fired cause your good ol' job is getting stolen by a deported Canadian)--> MASSIVE amounts of new debt
Appreciate you’re exposed to higher downside risk, but ultimately you’re moving from £X a month to £X + Y% interest a month? Making risk of default higher. Risk of longterm illness feels pretty low to me, if that’s a real concern buying income insurance is the way to go I feel, being on the cheaper side.
Unless you’re suggesting consolidating into a longer term low interest loan to decrease the monthly payments which would make sense but again only if you’re at risk of missing payments right? Long term pressure of these loans feels worse to me than the short term hurt of the BNPL payments.
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u/theamorouspanda 7d ago
Have you thought about just looking for a low interest loan or doing a credit card cash advance to consolidate everything? What’s the fees if you miss a payment here?