Debt will take forever to pay off
Hi, i was wondering which option would be best in my current situation. I have a new mortgage, car loan (that i need for work. I owe $4,500 in student loan which is currently in interest relief, and $7,800 between 3 credit cards. One of those credit cards is 19.5 % interest, and i dont have enough room on the others to transfer. I want to obviously keep my house and car, not ruin my credit completely and pay down my debt but need a break with the interest. What should i do?
Posted from: Nova Scotia
I would first look at a consolidation loan, at least for teh credit cards. The student loan is likely best handled directly with student loans. This should allow you to continue to protect your credit, but also give you a break in your interest rate.