[matt_435xi]

the final deposits are just around the corner and most of the vendors/reception want cash/check, and quite honestly I don't want to start accumulating credit card debt.

i rather not take out a home equity loan, although that may be the best option. i am not a financial expert so i figured some smarties on e90post could recommend different options or suggestions on what they may have done or heard?

any good online sites for this type of loan? lending tree or e-loan?

the plan is after we receive our cash gifts we should be able to knock this loan out, but until then we need some cash to fianance our day.

thanks for your advice/help in advance!

[PaulBailey@ltbmw]

I am no expert but this doesn't sound like a good idea. . . You'll be getting into debt before you're even married and just hoping that the money people give you will cover it. . . Why don't you just wait till you have the funds for the wedding?
Why the rush?
Taking a loan out for a wedding just seems like a very poor investment and decision

[Spool]

1. Getting married, Failed
2. Borrowing loan for wedding, Failed again

[Spacegray335i]

Originally Posted by Spool

1. Getting married, Failed
2. Borrowing loan for wedding, Failed again

Planning to be a monk or just pimping the rest of your life?

[matt_435xi]

your damn right its not a good idea, but its the situation i am in. weddings can cost crazy amounts of money, and a portion of it i have to finance in some way. based on the # of guests we will be fine in the end as we are not financing the entire wedding just a portion.

i am asking for advice, not to be flamed.

[jaiman]

How long before the wedding do they want to be paid? If its less than 30 days credit cards may be the way to go.

My wedding was put together in 25 days and ran exclusively through my card just to get the airmiles.

[G-Mach1]

Originally Posted by matt_335Ci

your damn right its not a good idea, but its the situation i am in. weddings can cost crazy amounts of money, and a portion of it i have to finance in some way. based on the # of guests we will be fine in the end as we are not financing the entire wedding just a portion.

i am asking for advice, not to be flamed.

I completely agree with you.
Most of us will need to take a loan or some thing in order to have a weeding. Most people don't realize that. Unless you are born with a gold spoon in your mouth that is the reality. It is easy for people to sit down and lecture on how you should not get in to debt. In paper it is all sounds good but in real world it is different. Also on the same not I don't agree with getting in to debt to have a fancy weeding either.

Having said that I will not count on the cash gifts to pay off the loan. If I were you I will take a equity loan on the house. But before that you have to sit down and come up with a plan to pay off the loan and give your self a realistic time frame to pay the loan.

Good luck

[TofuTurkey]

Originally Posted by matt_335Ci

any good online sites for this type of loan? lending tree or e-loan?

I don't have the experience, but from what I hear, Lending Tree etc. may pull your credit report multiple times to get the lowest rates. And these pulls do significantly lower your credit score. I just search around myself for the best rates.

Good luck, sorry not to be of more help...

[Icedog_16]

Originally Posted by G-Mach1

I completely agree with you.
Most of us will need to take a loan or some thing in order to have a weeding. Most people don't realize that. Unless you are born with a gold spoon in your mouth that is the reality. It is easy for people to sit down and lecture on how you should not get in to debt. In paper it is all sounds good but in real world it is different. Also on the same not I don't agree with getting in to debt to have a fancy weeding either.

Having said that I will not count on the cash gifts to pay off the loan. If I were you I will take a equity loan on the house. But before that you have to sit down and come up with a plan to pay off the loan and give your self a realistic time frame to pay the loan.

Good luck

This pretty much makes the most sense.

Fortunately, we didn't really get into much debt with our wedding (we paid for the whole thing ourselves); but if I had it to do over, I would probably rather have just taken the honeymoon and invested the rest.

[UncleWede]

It's the first major party of your life together, enjoy this moment and don't worry about the money so much. If you've good credit, the interest on the cards won't be too bad if you're that aggressive on the pay-off. Nothing (besides a visit from aunt flo) will ruin a honeymoon faster than arguing over whether to get wine or champagne, ravioli or salmon. ENJOY yourself!!!

[matt_435xi]

thanks for the positive responses guys/girls! we will be very aggressive paying it off, so much so that we will both get rid of our BMWs...................yeah right!!!!

[UncleWede]

"Let the bitchin begin" and you've not even said I do yet

[sillygoat]

www.prosper.com

not sure if its really what youre looking for but i just found it and it seems pretty interesting.

[matt_435xi]

Originally Posted by sillygoat

www.prosper.com

not sure if its really what youre looking for but i just found it and it seems pretty interesting.

that is interesting, jeez this internet is amazing!

[ironjw]

Originally Posted by Spool

1. Getting married, Failed
2. Borrowing loan for wedding, Failed again

lol

good luck OP

[DasBoost]

http://www.bankrate.com/

Here's another great place to do some research.

[phantom330]

I feel you there, weddings are EXPENSIVE! We had a small wedding (100 people) and it was upwards of 20k. Luckily our parents paid for it all or I would have been in the same situation as you, I had enough problems paying for the rings!

[BMW!]

Originally Posted by matt_335Ci

your damn right its not a good idea, but its the situation i am in. weddings can cost crazy amounts of money, and a portion of it i have to finance in some way. based on the # of guests we will be fine in the end as we are not financing the entire wedding just a portion.

i am asking for advice, not to be flamed.

good idea to have the wedding fund first... tell her to wait unless she'll run away

[oldaccount]

Originally Posted by Spool

1. Getting married, Failed
2. Borrowing loan for wedding, Failed again

+1.

go into debt in order to fulfill some broads materialistic, narcissistic childhood fantasy that lasts 1 day and will be forgotten by all the next. genius.

arent her parents are supposed to be paying for this, anyway?

[BMW!]

Originally Posted by ironjw

lol

good luck OP

3. Marrage Final Failure
haha just playing

[AndrewAZ]

With todays average prices of weddings your going to probably have to take out a home loan.....

[darkcloud]

Originally Posted by phantom330

I feel you there, weddings are EXPENSIVE! We had a small wedding (100 people) and it was upwards of 20k. Luckily our parents paid for it all or I would have been in the same situation as you, I had enough problems paying for the rings!

Dude you've got to be kidding me! 20k for 100 people. What did you guys pick out!!!!

I'm just around the corner and we're having the reception at a Crowne Plaza with 275 invited guests with the choice of a real Filet, Salmon or Chicken Prosciutto for around 25k. That's including florist, wedding cake, bar etc.

Rings are expensive though

Originally Posted by Suareezay

arent her parents are supposed to be paying for this, anyway?

*DING*, where's this option at??


Dude no offense but you should have been saving since you came to the decision to even propose if you knew you would be footing the bill.

If you have to pay the balances a couple days prior, which is what our people are requiring, then I'd stick it on an AMEX. They now allow you to carry a balance a large purchases and you'll get a decent amount of points. It's what I would do knowing I'd pay it off within a month or two.