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SERIOUS money question: NEED HELP!!!

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Old 11-27-2006, 09:38 AM   #1
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SERIOUS money question: NEED HELP!!!

OK guys,

I'm not the brightest financial mind here, so I need some assistance in how to get out of this or at least delay it temporarily. So I financed my fiancee's engagement ring last year at the "Introductory 0% for 12 months" interest rate. So, it's about to expire and I was informed that I have been accruing interest all along and basically if I don't pay the whole thing off by December 1st, I'll accrue almost 1000 dollars worth of interest.

1) I don't have the money to pay the whole thing off.
2) I'm NOT going to just EAT 1000 dollars.

Does anybody have any advice on what I can do? I'm REALLY freaking out here. I tried to apply for a credit card to transfer the balance, but they said that takes 3-4 weeks. Any help would be GREATLY GREATLY appreciated..
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Old 11-27-2006, 09:49 AM   #2
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Re: SERIOUS money question: NEED HELP!!!

I don't know much about finance either, but I think your only option is to put it on a credit card.
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Old 11-27-2006, 09:55 AM   #3
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Re: SERIOUS money question: NEED HELP!!!

You are in a tight spot. Do you have any cards to charge it to? Amex has no limit. If you belong to a Credit Union, espically Navy Federal they process personal loans fast. I just had the same deal with Room Store but I put away the money each month for it. Then just gave them a big check at the end of the promotional period.
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Old 11-27-2006, 10:12 AM   #4
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Re: SERIOUS money question: NEED HELP!!!

Do you have anyone that could loan you the money until you get another credit card set up?

That's typically the deal with the no interest deals, if you don't pay it off within the specified time all the interest then comes due.

Or you could always sell your body on a street corner.
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Old 11-27-2006, 10:15 AM   #5
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Re: SERIOUS money question: NEED HELP!!!

So I took combined advice, I did a balance transfer from my that account to my existing card. That's a lot of money, but at least I won't get the thousand dollar hit. Thanks for the advice guys.

Next time, I'm just selling my body.
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Old 11-27-2006, 10:52 AM   #6
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Re: SERIOUS money question: NEED HELP!!!

Can't you just borrow the money form your fiancee?

Like everyone said, it's very late in the ball game to move that money to another account It's very late. You're best bet is to a) hit up your parents, preferably your mother, for a loan or b) transfer the money to another card after you paid the balance off by some other means.
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Old 11-27-2006, 10:59 AM   #7
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Re: SERIOUS money question: NEED HELP!!!

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Can't you just borrow the money form your fiancee?

Like everyone said, it's very late in the ball game to move that money to another account It's very late. You're best bet is to a) hit up your parents, preferably your mother, for a loan or b) transfer the money to another card after you paid the balance off by some other means.
LOL funny that you say to borrow from Mom.

I always hated asking my Dad for money when I was in college. I felt like I was going before a judge and jury. I could always count on Mom though, she would toss me a 20 spot and not ask any questions.
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Old 11-27-2006, 11:06 AM   #8
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Re: SERIOUS money question: NEED HELP!!!

The final details of the transfer are this: I called my Amazon.com credit people, told them the deal, they did a wire transfer as of today. If I would have waited for tomorrow, it would have been too late. They transferred the entire 2,500 I had left on the ring to my Zales card.

I called the Zales people and told them the money was coming and they put a note on the account the payment was coming and that even if it was late, they wouldn't charge me the interest. My Amazon.com people got me a 6% rate on the 2,500 transferred over (which is far better than my purchase rate of 12%). So I'm good, for now.
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Old 11-27-2006, 11:11 AM   #9
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Re: SERIOUS money question: NEED HELP!!!

Good deal. It always pays to be up front with the credit card companies. Lots of times they will try to help you out if you're in good standing and you show that you aren't just trying to duck out of paying.
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Old 11-27-2006, 11:11 AM   #10
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Re: SERIOUS money question: NEED HELP!!!

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Originally Posted by TheMalcolmConnection View Post
The final details of the transfer are this: I called my Amazon.com credit people, told them the deal, they did a wire transfer as of today. If I would have waited for tomorrow, it would have been too late. They transferred the entire 2,500 I had left on the ring to my Zales card.

I called the Zales people and told them the money was coming and they put a note on the account the payment was coming and that even if it was late, they wouldn't charge me the interest. My Amazon.com people got me a 6% rate on the 2,500 transferred over (which is far better than my purchase rate of 12%). So I'm good, for now.
Damn! Cubic zirconium is really getting expensive these days! Did you get the special chapmagne colored stone? My wife pretended to not be impressed with the rock I gave to her but deep down I knew she loved it. Too bad she lost it shortly after. She picked out a new one that was a little more pricey and looked a little different than the one I selected but I guess it turned out for the best. I just have 724 more payments on it before it's mine...errr...hers {sigh}
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Old 11-27-2006, 11:13 AM   #11
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Re: SERIOUS money question: NEED HELP!!!

To make a long story short, we both got drunk and went to "look" at rings. I ended up buying the featured ring. You know, the one that's by itself on a pedastal over the rest of them? Yeah, great decision by me.

At least this situation is fixed as of this morning. I was freaking out more than I had in a long ass time.
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Old 11-27-2006, 11:33 AM   #12
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Re: SERIOUS money question: NEED HELP!!!

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Originally Posted by TheMalcolmConnection View Post
To make a long story short, we both got drunk and went to "look" at rings. I ended up buying the featured ring. You know, the one that's by itself on a pedastal over the rest of them? Yeah, great decision by me.

At least this situation is fixed as of this morning. I was freaking out more than I had in a long ass time.
Rings and alcohol, now that's a lethal combo!

There should be a man law about this.
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Old 11-27-2006, 11:37 AM   #13
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Re: SERIOUS money question: NEED HELP!!!

Yeah, I mean the Mexican restaurant was right next to Zales.

I was like, "This is the one you want? OK then, you don't get it now, but you at least got to pick it out."
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Old 11-27-2006, 11:38 AM   #14
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Re: SERIOUS money question: NEED HELP!!!

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Rings and alcohol, now that's a lethal combo!

There should be a man law about this.
Actually, there should be a federal, state and local regulation requiring a breathalyzer test taken before purchasing at any jewelry store.
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Old 11-27-2006, 11:40 AM   #15
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Re: SERIOUS money question: NEED HELP!!!

I work with a guy who bought his girl's ring with his student loan money, which basically means that she'll be helping him pay it off once they're married. Always a great way to start off the rest of your lives.
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