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Refinancing or Equity Loan, what should I do

Posted on 11/11/12 at 6:07 pm
Posted by Globalx39
Where I live
Member since Jun 2006
804 posts
Posted on 11/11/12 at 6:07 pm
I'm looking into consolidating debt from 3 credit cards total approx $25k. What option is best for me to get rid of that debt and those cards forever?
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 11/11/12 at 8:39 pm to
You haven't provided nearly enough information. Any other assets? Any equity in a home? Anything at all you can borrow against at a lower rate?
Posted by Tigerpaw123
Louisiana
Member since Mar 2007
17252 posts
Posted on 11/11/12 at 9:21 pm to
I hope you are the exception, but most people who use the equity in their house to pay off credit cards ultimately end up with the cards maxed out again and the extra debt they snowballed into their mortgage ....be carefull.
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