Comments on: RRSP Loan Strategy: Pay off high interest debt with a big RRSP contribution http://wheredoesallmymoneygo.com/rrsp-loan-strategy-pay-off-high-interest-debt-with-a-big-rrsp-contribution/ A personal finance blog written by Preet Banerjee Sat, 11 Feb 2012 16:22:10 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: semy http://wheredoesallmymoneygo.com/rrsp-loan-strategy-pay-off-high-interest-debt-with-a-big-rrsp-contribution/#comment-99 semy Fri, 18 Jul 2008 21:22:24 +0000 http://symbiantcapital.com/2007/10/17/rrsp-loan-strategy-pay-off-high-interest-debt-with-a-big-rrsp-contribution/#comment-99 It is a loan, typically offered at prime, that allows the borrower to contribute to their RRSP using the banks money.The upside is that the borrower gets the tax refund in a few months, the downside is that the borrower is stuck with a loan that is paid out of cash flow. To be upfront with you, I'm not a big fan of RRSP loans. The only way that I would consider a RRSP loan is if the total tax return would cover the WHOLE loan. _______ semy <a href="http://www.mydebtconsolidation.name" rel="nofollow">Debt Consolidation</a> It is a loan, typically offered at prime, that allows the borrower to contribute to their RRSP using the banks money.The upside is that the borrower gets the tax refund in a few months, the downside is that the borrower is stuck with a loan that is paid out of cash flow.

To be upfront with you, I’m not a big fan of RRSP loans. The only way that I would consider a RRSP loan is if the total tax return would cover the WHOLE loan.
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semy
Debt Consolidation

]]> By: Preet http://wheredoesallmymoneygo.com/rrsp-loan-strategy-pay-off-high-interest-debt-with-a-big-rrsp-contribution/#comment-98 Preet Mon, 25 Feb 2008 21:17:25 +0000 http://symbiantcapital.com/2007/10/17/rrsp-loan-strategy-pay-off-high-interest-debt-with-a-big-rrsp-contribution/#comment-98 <p>Unfortunately that is a potential catch-22 that people can run into. Alternative forms of financing can be arranged through mortgage brokers on occasion. They might suggest a consolidation loan as another option, or they might have some information on private lenders (who take on higher risk cases and expect higher interest rates in return).</p><p>I hope that helps and good luck!</p> Unfortunately that is a potential catch-22 that people can run into. Alternative forms of financing can be arranged through mortgage brokers on occasion. They might suggest a consolidation loan as another option, or they might have some information on private lenders (who take on higher risk cases and expect higher interest rates in return).

I hope that helps and good luck!

]]> By: TJ http://wheredoesallmymoneygo.com/rrsp-loan-strategy-pay-off-high-interest-debt-with-a-big-rrsp-contribution/#comment-97 TJ Sun, 24 Feb 2008 06:53:46 +0000 http://symbiantcapital.com/2007/10/17/rrsp-loan-strategy-pay-off-high-interest-debt-with-a-big-rrsp-contribution/#comment-97 <p>I have been trying to do just this very thing but (if most people are in the same boat as me) my credit sucks and they wont give me the loan??? Any avenues to obtain the loan, even at a higher interest rate would be appreciated! </p> I have been trying to do just this very thing but (if most people are in the same boat as me) my credit sucks and they wont give me the loan??? Any avenues to obtain the loan, even at a higher interest rate would be appreciated!

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