Ok people lets make this as simple as possible.
I owe $25,000 in (one credit card) monthly payment is $660
I owe $15,000 in (another credit card) monthly payment is $550
I owe 37,400 on my solar, apr at 7.99 monthly payment is $345
My total monthly payments is about $1600 for those 3.
Option 1: im thinking about taking a loan from my equality from my home to pay off this debt
Option 2: apply for a loan through lightstream and see if the rates would be lower than option 1.
Suggestions?
Some options to get rid of 80k in debt
byu/2uyy inpersonalfinance
Posted by 2uyy
1 Comment
Nothing will change unless you change your life.
You’re broke, broke and have been spending recklessly.
You need to physically cut up your credit cards. Delete them from your google/apple wallet. Take them off autopay. You’re not a responsible credit card user and need to take drastic steps to stop the bleeding. Once you do that, create a strict budget, which means dramatically reducing the spending you’ve done.
If you can do that, then a consolidation loan probably makes sense. If not, you’re rearranging deck chairs on the Titanic.