Financial Information
Using cash advances from credit cards to pay off student loans?
This is a great idea! Since I can’t write off student loans in a bankruptcy, why not just take out thousands of dollars in cash advances to pay off the student loans! Then I’ll just claim bankruptcy. Yayy!
It is never a great idea to use cash advances for any reasons.
If you’re planning to pay for anything via credit card, why not pay for it by swiping them or by charging them online? Cash advances apply a higher/very high APR as opposed to purchase APR. I am pretty sure, most avenues where you pay up student loans accept major credit cards. Go swipe them or equavalent online. Then, you know the drill.(i-e: making payments & settling debts fast)
Declaring for bankruptcy is not easy.