On November 8th from 4:00 to 6:00 pm CST, join voices with Steven Curtis Chapman, Jim Daly, and Dennis Rainey
to reach the nation with God’s call to care for orphans.
to reach the nation with God’s call to care for orphans.
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#1
05-30-2006, 03:55 PM
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I closed on my Home Equity loan today to fund the adoption...
I had a phone closing and have to get the papers notarized tomorrow. In the papers is a preapproved credit card application for 0 interest for 1 year. I'm thinking of getting it and using it for some miscellaneous expenses for the adoption because I only took the loan for 25K. What type of expenses could I use a cc for? Is this a smart move or no?
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Tam http://waitingforkevin.blogspot.com/ 5/25/06-Signed with agency 7/3-I600A submitted 7/10-HS visit 7/13-Fingerprints 8/9-Adoption on hold... 8/28-Back on track!  9/5-2nd HS visit 11/2-HS at USCIS 11/30-Received I797C! 12/15-Dossier to Guatemala! 01/28/07-DOB  Kevin William02/05-DOR  2/15-DNA Authorized 2/16-DNA done 2/19-POA in Guatemala 2/27-It's a MATCH 99.95% (received results 3/5) 3/09-Entered FC  3/26-SWI completed Visit trip 4/10-4/13  5/5-PA! 5/10-Entered PGN 5/23-KO 5/24-Back IN 7/20-OUT of PGN!!!  8/8-Submitted for PINK-2nd DNA sent 8/21-PINK! 8/27-Embassy appointment 8/29-HOME! 
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Guatemala Adoption Information
Guatemala Websites
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#2
05-30-2006, 03:58 PM
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Congrats on getting the funding for your adoption. The only thing we were able to use cc's for was our travel expenses, some dossier documents, and DNA. The agency fee, foreign fee, home study, passports, I-600A, and notarizing/certifying/authenticating all were all paid by checks or money orders.
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~~~Daphne~~~ www.GuatemalanHarvest.org Home with Carolina (4) and Evangeline (3) God, thank you for my children
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#3
05-30-2006, 03:58 PM
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FIRST OF ALL CONGRATS ON THE LOAN!!! We took out 30K and will need every penny so I think it may be a good idea to use the CC for this like travel, passports, and all the other "small fees" that add up that you may not have money for on the spot. I know for us it was a HUGE relief having that money in the bank.
Hugs
__________________
 Mindy Referral of Princess Mikayla Faith 6-30-06 DOB 6-17-06 Enter Family Court 8-14 DNA and SWI Complete 8-23 Out of Family Court 9-1 Pre-Approval 10-6 IN PGN 10-11 PGN Kick Out 11-2
Re-Submitted to PGN 11-2
OUT OF PGN 1-2
IN OUR ARMS FOREVER 1-27
Embassy Appointment 1-29
HOME FOREVER AND EVER 1-31
http://theousleyfamily.blogspot.com/
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#4
05-30-2006, 05:09 PM
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credit cards....
I usually don't like to use credit cards, but I have to admit that one gave us an excellent deal after we told that what it was for. They gave us 0% interest for one year! They gave us checks to use and we used that for small fees that soon added up. Hope that helps!
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#5
05-30-2006, 05:12 PM
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I'm an auditor -- so this is the auditor in me coming out
 Using a 0% interest rate (for one year) cc for miscellaneous expenses is OK. But I'd advise when you get your $10K adoption tax credit that you pay off any balance on the cc first. Since your interest on the equity loan is tax deductible -- and interest on the cc isn't. Also any cc that gives you 0% rate for a year usually has a pretty high interest rate after the year has elasped. Best wishes!
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DD from Guatemala  Home forever May 2007 Foster Care Adoption  Fostering baby girl "Sweetie Pie"
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#6
05-30-2006, 05:59 PM
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 Congratulations !! That is a HUGE step !!!
__________________
Maria http://loveyamorethancookies.blogspot.com/ Mommy to 3 beautiful children  M- 8 yr old son G- 5 yr old daughter and Isabella our Guatemalan Princesa ~Waiting for our Ethiopian Princess Jan 2006 We are Starting Our Journey !  Jan 25 -- Paper chase begins May 27-- 171-H IS HERE !! June 8-- Our baby girl referral June 25--POA June 26-- DNA test July 14--FC July 17--PA Aug 18--FC exit Aug 25--IN PGN Sept 11-- KO'ed ( for a baby bc  )Sept 20--Back in Oct 13-KO #2 (Bmom BC) Oct 13-Back in Nov 22-- WE ARE OUT BABY !!  Dec 16-- HOME FOREVER
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#7
05-30-2006, 06:01 PM
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credit card...
Thanks Laura! I totally agree about the credit cards. We only use it if we intend on paying it off quickly. That's really the only "safe" way to use credit cards..... otherwise the balances get bigger and bigger. So yes, only use the credit card option if you're able to pay the balance off BEFORE the 0% runs out.......if not, then it wasn't such a great deal!!. Thanks!! Dulce
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#8
05-30-2006, 07:44 PM
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Thanks, everyone!
Laura-That is exactly what I was planning. Thanks for the affirmation .
__________________
Tam http://waitingforkevin.blogspot.com/ 5/25/06-Signed with agency 7/3-I600A submitted 7/10-HS visit 7/13-Fingerprints 8/9-Adoption on hold... 8/28-Back on track! 9/5-2nd HS visit 11/2-HS at USCIS 11/30-Received I797C! 12/15-Dossier to Guatemala! 01/28/07-DOB Kevin William02/05-DOR 2/15-DNA Authorized 2/16-DNA done 2/19-POA in Guatemala 2/27-It's a MATCH 99.95% (received results 3/5) 3/09-Entered FC 3/26-SWI completed Visit trip 4/10-4/13 5/5-PA! 5/10-Entered PGN 5/23-KO 5/24-Back IN 7/20-OUT of PGN!!! 8/8-Submitted for PINK-2nd DNA sent 8/21-PINK! 8/27-Embassy appointment 8/29-HOME!
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