Consolidating credit card debt with mortgage | Page 2 | TigerDroppings.com
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PlazaDeBurbanko
LSU Fan
Houston
Member since Jan 2011
634 posts

re: Consolidating credit card debt with mortgage

Extremely. If you are able to get a limit big enough to consolidate all the cc's. Typically company's will give 6mo - 18mo. Figure out how much u need to send to pay it off within the 0% period


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Ace Midnight
LSU Fan
Currently asymptomatic
Member since Dec 2006
37167 posts
Online

re: Consolidating credit card debt with mortgage
quote:

She has been made well aware of my disdain for debt. She has car, house, 10 in CC, 80 from school.


Before she commits to anything, I would make her complete Ramsey's Financial Peace University, or at least read Total Money Makeover.

I wish I had 20 years ago...


ACT
USA Fan
Member since Sep 2010
1092 posts

re: Consolidating credit card debt with mortgage
Are these easily available via Google?


Tigerpaw123
USA Fan
Louisiana
Member since Mar 2007
9806 posts

re: Consolidating credit card debt with mortgage
The vast majority of people who do something like this, within one year will run credit cards up again and then have the heloc plus the new cc debt. $90,000 worth of non secured debt is not good, I would advise to pay off all cc debt, then make a big chunk of the student loan debt before doing anything else


txtiger21
LSU Fan
Dallas, TX
Member since Jul 2010
264 posts

re: Consolidating credit card debt with mortgage
quote:

I would make her complete Ramsey's Financial Peace University.


Agreed. She is the target audience for these classes. Find a class.


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ACT
USA Fan
Member since Sep 2010
1092 posts

re: Consolidating credit card debt with mortgage
quote:

within one year will run credit cards up again


This is why I strongly advised her to cut them up. I worry about her spending habits and it honestly concerns me moving forward in the relationship.


Tigerpaw123
USA Fan
Louisiana
Member since Mar 2007
9806 posts

re: Consolidating credit card debt with mortgage
I wish you luck, but honestly it sounds like she is the kind of person that even if she cuts them up will not be able to resist the next offer that comes along , will sign up for the store charge because they give her 10% off her current purchase, or the 0% interest offer that comes in the mail. Sounds like she needs a new way of thinking more than a new way to consolidate, as mentioned earlier look into Dave Ramsey's products


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