Bank loan or consolidation debt program card credit payment?
Due to a family tragedy, my husband and I are currently $ 26,000 of credit card debt. All payments are current and are paid on time cards with accounts that remain open (not continue to claim, however). We are seriously looking to pay before the interest is eating us alive. My husband wants to take a bank loan and pay off the cards in this way, but I wonder about the debt consolidation programs learned (I know some of them are scams and some are real). Any advice or experience?
A bank loan will require some form of collateral like a house. If you can not repay the loan, you lose the house. Debt consolidation is garbage Your Credit Score. You are better to negotiate with each credit card. The mention of those who may have to declare bankruptcy due to high rate and could reduce rate. In most cases, I would.
Debt Consolidation : Consolidate your credit card debt Student Loans for College Students
