Quote:
Originally Posted by FireFly
I have no collateral. My parents would have no problem doing it, except that their credit isn't the greatest because they also refuse to put the land up as collateral. I know I can make the minimum payments, it's the principle of the thing. Everyone else can do it alone, I can too....
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Being one of the most stubborn people in a very stubborn family, I can respect the feeling.
Though at some point, you do have to suck it up and ask for a little help. I know in my case, the Bank of Mom allowed me to keep from going under, allowing me to be in a place now where most of my spare money is going towards my goals, rather than my debt.
I'm not sure why they would have to put the land up as collateral though, especially if they have a car or something close in value to the LoC.
Though, these are the banks we are talking about. The same clowns that will happily give you a platinum Visa card with no collateral, but make it challenging to get a LoC.