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Valerie

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Has anyone tried getting a general purpose loan from UPS Savings? I am just curious if it is handled like the VanGuard. Hubby has decided to buy a motorcycle and we figured borrowing the money from ourselves is much better than other financing. We requested the paperwork on the 5th and still have not received anything.
 
purchase of a primary residence;
post-secondary education expenses;
to prevent eviction or foreclosure from your primary residence;
unreimbursed medical expenses;
adoption-related expenses; or
funeral expenses for a family member.
 
Valerie said:
Has anyone tried getting a general purpose loan from UPS Savings? I am just curious if it is handled like the VanGuard. Hubby has decided to buy a motorcycle and we figured borrowing the money from ourselves is much better than other financing. We requested the paperwork on the 5th and still have not received anything.
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Sorry, you no longer have this option since ups took the plan over. Only strict guidlines apply
 
Johnnybegood said:
I've taken one so they are not that strict.......
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You must prove that you have a hardship in order to receive one of two hardships allowed. Did you read post #1 Now I guess if you can persuade the plan administrator that purchasing a motorcycle is a hardship I would say that they are not that strict!!!!!! Hello, The question was pertaining to a general purpose loan to purchase a motorcycle.
 
Johnnybegood said:
Medical bills, Education, Losing your home these are hardships...We no longer have general purpose loans.....
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:bgroovy: You don't read very well. There is a general purpose loan $1,000.00 and a home loan of $1,000.00 both are at 9.25%. better navigate your UPS Savings Advantage site a little better, you may get educated.:wavey:
 
Valerie heres something that works good.

You take out a either a personal bank loan at whatever interest you can get,or if you have a credit card that isn't maxed,and has a high credit amount.
Make your purchase.
Than transfer that loan to a interest free credit card.
I know for myself my mail box is always being flooded with credit card offers to transfer highier rates to zero interest for 1 year,some even offer 18 months,with a transfer fee,not more than $75 dollars depending on the amount.

I know this works,my wifes only bad vice is spending money.
This is one reason I can't live on a fixed retirement income at this time.
But I've been playing credit card tag for around 5 years now.
Always paying the fee to have zero interest.
I pay more than the monthly payment to pay down my debt.

Just a thought,I know all the credit card companies want americans to be indebted to them all their natural lives,or maybe they just need a tax write off for all of these mail offers they keep sending out?

This could work for you.
Unless your hubby wants one of those T.V. custom chopper motor cycles?
Than you'll have to take out a second mortgage.
 
dvr49 said:
:bgroovy: You don't read very well. There is a general purpose loan $1,000.00 and a home loan of $1,000.00 both are at 9.25%. better navigate your UPS Savings Advantage site a little better, you may get educated.:wavey:
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You better make a phone call and get educated because. there is no genaral purpose loan as we new it at ovt. The closest thing to it is a loan to help buy your primary residence otherwise hardship rule apply I called .
 
:bgroovy: O.K. I apologize I went back to the wed site and reread the plan , you are correct . I will be more responsible in the future.:duh:
 
Valerie said:
With the price of gas and fuel these days it is practically a hardship to drive back and forth to work!!!!
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This is good, and I agree with you. I have a motorcycle and use it when ever possable. The best milage you can get and it does not hurt so much when you fill the tank. Only $8.00 high test and your good for a couple hundred miles.
 
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