Loaned monry and balance transfers
September 7th, 2010 by Questions
I have a line of credit that has a 27K balance on it. It`s been at a special low interest rate that was offered to me. That rate has ended, and the minimum payments are through the roof.
I`ve managed to temporarily borrow money to pay it off, and then plan to use another low rate special offer to pay the money I borrowed back.
I`m currently maintaining an R1 rating, make all my payments on time, but am only making minimums. I expect I will have to file for bankruptcy or a CP next year.
Will the fact that I`ve taken credit out against this credit line again reflect badly on me, even though I`m just putting back the balance that was already there?
Posted from: Ontario